The pardon is largely symbolic, with Jay Y Lee already out on parole after serving 18 months in jail for bribery relating to his time leading the world’s biggest smartphone and memory-chip maker.
South Korea’s President Yoon Suk-yeol pardoned Samsung Electronics Vice Chairman Jay Y. Lee on Friday, with South Korea’s Justice Ministry saying the business leader was needed to help overcome a « national economic crisis ».
The pardon is largely symbolic, with Lee already out on parole after serving 18 months in jail for bribery relating to his time leading the world’s biggest smartphone and memory-chip maker.
However, it should mean Lee will be able to carry out business activities more freely and could herald some big moves from Samsung, analysts said.
« With urgent needs to overcome the national economic crisis, we carefully selected economic leaders who lead the national growth engine through active technology investment and job creation to be pardoned, » Justice Minister Han Dong Hoon told a briefing.
Lee, a scion of Samsung’s founding family, welcomed the decision and vowed to work hard for the national economy, Yonhap news agency reported.
