![]() The heads of five economic organizations submitted a joint petition to the presidential office in April. Korea should step up and help the local chip industry - namely, Samsung Electronics - to stay ahead of the game, they said. The local business community strongly called for a pardon for the Samsung chief, citing Samsung’s significance to the national economy. Moon’s stance on what he called “economic justice,” however, seems to have changed in recent months, as major economies engage in a power struggle over key supply chains, including those for semiconductors. ![]() The late Samsung Chairman Lee Kun-hee, father of the current leader, was convicted twice, only to be pardoned both times. Moon, a liberal who took charge after two consecutive conservative administrations, has openly criticized the country’s record of leniency toward law-breaking chaebol chiefs. Releasing Lee on parole appears to be a face-saving way for President Moon to heed the calls. In the beginning, appeals were directed to President Moon Jae-in, asking him to grant a pardon. Monday’s decision came amid mounting calls for leniency for Lee, with many citing the need for strong leadership at Samsung Electronics so it can navigate through a global chip war. He was imprisoned in January this year after the top court sentenced him to serve 2 1/2 years, saying he was responsible for paying a total of 8.6 billion won ($7.51 million) in bribes to former President Park Geun-hye.īy that time, Lee had already spent nearly a year behind bars during investigations and lower court trials. The ministry lowered the minimum time an inmate has to serve to become eligible for parole, from 80 percent to 60 percent, starting this month. Lee has spent 18 months of his 2 1/2-year term behind bars. ![]() Under current laws, anyone convicted of crimes such as embezzlement are not allowed to work there for five years following the completion of the sentence. The ministry didn’t mention whether Lee would be given a special exemption that would enable him to formally return to the management of Samsung Electronics. “The committee also said to have considered various factors including public sentiment and his conduct in prison,” he said, adding he has also given his endorsement on Lee’s release. “The committee decided to grant parole to Samsung Vice Chairman Lee Jae-yong, considering the current conditions in the global business environment,” Justice Minister Park Beom-kye said in a press conference, which was streamed live online. The de facto chief of Samsung Group is among over 800 prisoners to be released the same day as part of South Korea’s long tradition of clemency for Liberation Day, which falls on Aug. on Friday, about 11 months before the end of his sentence. He will walk free from the Seoul Detention Center in a southern suburb of Seoul at 10 a.m. The Ministry of Justice on Monday decided to parole Samsung Electronics Vice Chairman Lee Jae-yong, who is in prison for bribery. ![]()
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