The grandson of the Samsung company founder was involved in a corruption scandal. But now Lee Jae Yong is benefiting from an amnesty affecting nearly 1,700 convicts in South Korea.
A year after his parole from prison, heir to the Samsung corporate empire Lee Jae Yong enjoys a special pardon from President Yoon Suk Yeol.
The 54-year-old vice chairman of smartphone market leader Samsung Electronics is the most prominent beneficiary of the decree that the government announced on Friday for a total of almost 1,700 people convicted. Lee was again sentenced to prison for corruption in early 2021. Seven months later he was released from prison on parole.
Lee’s pardon means that he can conduct his business activities more freely again, which was previously impossible for him due to various conditions. However, there is currently another case against the grandson of Samsung company founder Lee Byung Chull. So he has to answer to the allegation of share price manipulation in court. He denies the allegations.
Pardon for ‘carefully selected business leaders’
According to the information, Yoon’s decree will come into force on the day of Korea’s liberation from Japanese colonial rule (1910 to 1945) next Monday. In South Korea, amnesties or mass pardons are traditionally granted on August 15 each year. The chairman of the Lotte Group, Shin Dong Bin, who was sentenced to two and a half years in prison for corruption, will also benefit from the current sentence.
The economy is in crisis, Justice Minister Han Dong Hoon said of the current decree. The pardon applies to “carefully selected business leaders” who contribute to growth through their investments in technology and job creation.
Lee Jae Yong was embroiled in a massive corruption scandal surrounding former President Park Geun Hye, who was removed from the highest state office in March 2017. In a reopened trial in January last year, the court found it proven that Lee had offered the former head of state and one of her confidants money in order to get political support for the transfer of power within South Korea’s largest conglomerate.
Source: Stern
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.
