Lee Jae Yong, heir to smartphone maker Samsung, was sentenced to two and a half years in prison in connection with a corruption affair. Now he was released early.
Seven months after his re-sentencing for corruption, heir to the Samsung corporate empire, Lee Jae Yong, has been released.
He has caused great unrest, he apologizes, said the 53-year-old vice chairman of the smartphone market leader Samsung Electronics on Friday after reports from South Korean broadcasters when leaving a detention center in Seoul. He is aware of the “concerns, criticism and high expectations” of him.
Lee was released early on parole along with more than 800 other convicts. This shortened his prison sentence of two and a half years by almost a year.
The reason for the exemption from punishment by the Ministry of Justice is the day of the liberation of Korea from Japanese colonial rule (1910 to 1945) on August 15. Justice Minister Park Beom Kye said the country’s economic situation was taken into account when deciding on Lee’s conditional release. Samsung is also a leader in memory chips and televisions. Numerous workers and civil organizations had spoken out against Lee’s dismissal.
The background to the proceedings against Lee was the corruption affair surrounding former President Park Geun Hye, who was removed from the highest state office in March 2017. In a reopened trial in January of this year, the court ruled that Lee had offered the former head of state and one of her confidants money to gain political support for the transfer of power within the largest South Korean conglomerate. Lee is the son of former CEO Lee Kun Hee, who died in October.
Two other proceedings are currently ongoing against Lee. So he has to answer in court for the allegation of stock price manipulation. He is also accused of illegally taking a sedative. Lee denies the allegations.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
