Samsung heir to be released from jail Friday after gov't pardon

[Photo by Han Joo-hyung]

Samsung Group de facto leader Jay Y. Lee will be released from jail Friday after government decision to grant parole before his term ends next year ahead of August 15 Liberation Day.

The Ministry of Justice on Monday decided to release jailed Lee on Friday after the heir was considered for parole “given national economic conditions due to the prolonged Covid-19 and global economic environment,” said Justice Minister Park Beom-kye.

“The decision to grant Samsung Electronics Vice Chairman Lee parole was made after comprehensively considering various elements such as social atmosphere and dormitory life,” Park said.

Park’s remarks were made after hours long justice ministry meeting with internal and outside experts to deliberate whether to include Samsung Electronics Vice Chairman and owner of the country’s most valuable business group in the list of parole grant timed with the August 15 Liberation Day.

Shares of Samsung Electronics closed at 81,500 won on Monday, remaining unchanged from the previous trading session.

Lee was sent back to jail in January on retrial ruling sentencing him to finish a two-and-a-half-year term in relation to embezzlement and other crimes connected to the impeached President Park Geun-hye. He is eligible to be paroled after having served 60 percent of sentence as of end of last month.

Lee initially received a 5-year sentence for bribery in August 2017 and served one year in prison but was released after the original term was reduced to half on appeal and suspended. The case was sent back for a retrial which placed Lee back in jail.

The review committee meeting was led by vice justice minister Kang Sung-kook, three internal members including Koo Ja-hyun, director of public prosecutors and Yoo Byung-cheol, head of correctional service, both from the ministry, and outside five outside members including Yoon Gang-yeol, a head judge at Seoul High Court, and Hong Seung-hee, law professor at Wonkwang University.

The review committee came up with a short list for parole for approval by Justice Minister Park.

In several poll results released recently, more Koreans approved early release of Lee than those opposed. Civic groups, however, are still against the idea.

[Photo by Park Hyung-ki]

Under the country’s law, the justice ministry grants paroles under condition that offenders do not repeat crime during remaining jail term.

Lee would be restricted from going on overseas business trips before his term ends. To return to everyday management, he needs an exceptional grant from the justice minister.

Business circle has been petitioning for Lee’s pardon amid stalemated investment by the country’s top chipmaker amid intensifying competition in the chip and other tech front.

In May, James Kim, chairman of the American Chamber of Commerce in Korea, joined the campaign, arguing Lee’s return to management would be in the best interests of U.S. and Korea.

Heads of the country’s five business lobby groups including Korea Chamber of Commerce and Industry Chairman Chey Tae-won and Korea Employers Federation Chairman Sohn Kyung-shik also plan to re-urge Lee’s pardon in a meeting this week with Finance Minister Hong Nam-ki.

[ㄏ Maeil Business Newspaper & mk.co.kr, All rights reserved]