The Federation of Korean Industries, a big business lobby, said in a statement that it welcomed the decision to grant Lee parole."If the investment clock, currently at standstill, is not wound up quickly, we could lag behind global companies such as Intel and TSMC and lose the Korean economy's bread and butter at a moment's notice."
He is likely to get that, legal experts say, due to circumstances such as the amount deemed embezzled having been repaid.South Korea's biggest conglomerates are still owned and controlled by their founding families and there is little precedence for handing over the reins to outsiders even when a senior family member has been jailed.
"If the administration that benefited grants preferential parole for a chaebol owner, we must reconsider the very existence of the Moon Jae-in administration," said Kim Ju-ho, official at activist group People's Solidarity for Participatory Democracy, using the local term for large family-owned businesses.
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