First modification:
Lee Jae-yong, sentenced to two and a half years in prison for being involved in the corruption cases that led to the removal of former president Park Geun-Hye, was benefited along with 1,692 other people by the traditional amnesty granted by the Government. In house arrest since May 2021, from now on he will be able to resume his business rights. Justice argued that it will help overcome the economic crisis.
This Friday, August 12, the president of South Korea, Yoon Suk-Yeol, announced the pardon of 1,692 people, highlighting the leader of the electronics company Samsung, the heir Lee Jae-Yong, who had been sentenced to two years and medium.
Jae-Yong had received a sentence for being involved in a bribery case that made up the corruption network that precipitated the fall of the Park Geun-Hye Administration, which had another year in office.
However, as of Monday, he will be able to resume his professional activities without restrictions after receiving amnesty from the head of state. The South Korean Ministry of Justice justified that the departure of the benchmark Samsung will contribute to economic growth that will help the country to overcome the crisis.
“These entrepreneurs were included in the pardons in consideration of their role in leading national growth through technology investment and job creation,” Justice Minister Han Dong-Hoon said.
For his part, Yoon Suk-Yeol expressed that he hopes this decision will improve the lot of “ordinary people who have been affected by the prolonged Covid-19 pandemic.”
“I hope it will be an opportunity for all South Koreans to work together to overcome the crisis,” he said.
Samsung billionaire Lee Jae-yong, who was convicted of bribery and embezzlement last year, will be “reinstated” to give him a chance to “contribute to overcoming the economic crisis” of South Korea, Justice Ministry says announcing his pardonhttps://t.co/OZcL40ZTdB pic.twitter.com/MpImyF8hKw
— AFP News Agency (@AFP) August 12, 2022
Jae-Yong, with a net worth of 7.9 billion dollars according to ‘Forbes’, was under house arrest after serving 18 months in jail. Among the conditions was the five-year disqualification from his business work.
After being pardoned, he said in a statement that he wants to “contribute to the economy through continued investment and job creation for young people.”
Previously, Samsung, the world’s largest smartphone manufacturer and which annually bills the equivalent of a fifth of South Korea’s GDP, presented a massive investment plan of 346,000 million dollars for the next five years and the creation of 80,000 new jobs.
Yoon’s decision comes within the framework of Liberation Day, a day that commemorates Japan’s defeat in World War II, which allowed Korea to emerge from colonialism. Symbolically, the country’s president selectively releases prisoners.
Among the beneficiaries also appears the president of the Lotte Group, Shin Dong-bin, other tycoons and ordinary citizens, including those with terminal illnesses or who are serving their last sentence.
Left out was former President Lee Myung-bak, who was in power from 2008-13, and local governors, all of them entangled in corruption cases. His departure was denied so as not to lower Yoon’s approval rating.
With EFE and AFP
#Samsung #boss #pardoned #South #Korea #combat #economic #crisis