Lee Jae-yong, vice president of Samsung Electronics, was pardoned by the President of South Korea today. Jae-yong will be able to take control of Samsung again.
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Samsung’s de facto leader, Lee Jae-yong, was paroled in August 2021 after serving two and a half years in prison on charges of bribery, perjury and embezzlement. The amnesty granted by Korean President Yoon Suk-yeol came amid growing concerns about global inflation and ongoing supply chain problems.
“In order to overcome the economic crisis by reviving the economy, Samsung Electronics Vice President Lee Jae-yong, whose sentence has just ended, will be reinstated,” the South Korean Presidential Office said in a statement. statements are included.
Up to 12 years in prison
Lee is Samsung’s vice president and has served as the company’s de facto president since his father, Lee Kun-hee, suffered a heart attack in 2014. He faced up to 12 years in prison after being accused of bribery in 2017. The case was part of a corruption scandal that led to the impeachment of former South Korean President Park Geun-hye.
Lee, who has always denied the allegations against him in court, will face overseas travel restrictions under South Korean law. But the country’s justice ministry reportedly has the authority to make exceptions.
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