Will Samsung and Lotte chiefs receive pardons?

Will Samsung and Lotte chiefs receive pardons?

President Yoon Seok-yul will meet Samsung Electronics Vice Chairman Lee Jae-yong and Lotte Group Chairman Shin Dong-bin on August 15 of the National Liberation Day of Korea to address various downside risks, including: Expectations are rising for forgiveness to help. Industry insiders announced high inflation and unfavorable exchange rates on Monday.
Yun was thinking of his first special amnesty. And it is believed by many to include amnesty to key business people. Since his inauguration, Yun has emphasized economic recovery and that the Korean economy is suffering from external difficulties.
“The absence of leaders inevitably puts a strain on corporate governance, and given the external challenges facing companies, it seems likely that amnesty will be granted,” said an industry representative.


The Justice Minister will meet the Amnesty Review Committee around August 9. After the amnesty review committee selects candidates, the election is confirmed by the approval of the president and the decision of the Diet.

Samsung Electronics Vice Chairman Lee Jae-yong

On July 27, Prime Minister Han Duck-soo also announced plans to propose to the president to pardon key businessmen, including Vice Chairman Samsung and Chairman Lotte. Lee, who was sentenced to imprisonment for bribery and embezzlement, was released on parole to commemorate the anniversary of the national liberation during the Moon Jae-in administration last year and expired on July 29.

The Vice-President is currently barred from employment under the Act on Strengthening Punishment of Certain Economic Crimes. After completing his sentence, he is not allowed to work for a criminal organization for five years. If the amnesty is granted, the employment restrictions will be lifted.

But some say that even with the amnesty, Lee would not be completely free.

“Although Vice Chairman Lee has been pardoned for this case, he is also involved in several other cases in which he has been summoned to court, so he is not fully exempt from court orders.

But the pardon will help him some by letting him run his business,” said an industry insider, who asked not to be identified. was sentenced to four years’ probation. In his case, movement is restricted due to a probationary period, but employment restrictions do not apply.

Lotte Group Chairman Shin Dong-bin


Industry observers expect a large number of business leaders to be included in the special National Liberation Day pardon.

Unlike politicians, there is little disagreement between the ruling and opposition parties over amnesty for business leaders, and the president has a strong desire to revitalize the economy through increased investment and job creation.

Public opinion on amnesty for business leaders is also positive.

In a poll of his 1,006 adults conducted by polling firms Embrain Public, K-Stat Research and Korea Research, 77% of respondents support pardoning the Samsung vice chairman. I understand.


Credit/Source : KoreaTimes


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