Samsung’s Lee to walk free from jail on Friday

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The Ministry of Justice of South Korea on Monday decided to parole Samsung Electronics Vice Chairman Lee Jae-yong, who is in prison for bribing former President Park Geun-hye with 8.6 billion won ($7.51 million). | AsiaNewsNetwork

“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.

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 in bribes to former President Park Geun-hye. 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.

The local business community strongly called for a pardon for the Samsung chief, citing Samsung’s significance to the national economy. Korea should step up and help the local chip industry — namely, Samsung Electronics — to stay ahead of the game, they said.

 

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