Samsung boss Lee Jae-yong, convicted in bribery case, gets presidential pardon

Samsung boss Lee Jae-yong, convicted in bribery case, gets presidential pardon

In this file photo taken on 6 May, 2020 Vice-Chairman of Samsung Electronics Lee Jae-yong speaks during a news conference in Seoul. AFP

Seoul, South Korea: The heir and de facto leader of Samsung group received a presidential pardon Friday, the latest example of South Korea’s long tradition of freeing business leaders convicted of corruption on economic grounds.

Billionaire Lee Jae-yong, who was convicted of bribery and embezzlement in January last year, will be “reinstated” to give him a chance to “contribute to overcoming the economic crisis” of the country, Justice Minister Han Dong-hoon said.

Lee – the 278th-richest person in the world, according to Forbes, with a net worth of $7.9 billion – was released on parole in August 2021, after serving 18 months in jail, just over half of his original sentence.

Friday’s pardon will allow him to fully return to work by lifting a post-prison employment restriction that had been set for five years.

“Due to the global economic crisis, the dynamism and vitality of the national economy have deteriorated, and the economic slump is feared to be prolonged,” the Justice Ministry said in a statement.

The pardon was given so that Lee — and other similarly pardoned high-level executives — could “lead the country’s continuous growth engine through active investment in technology and job creation,” the ministry added.

Lee, 54, received his pardon along with three other businessmen on Friday, including Lotte Group Chairman Shin Dong-bin, who was sentenced to a suspended two-and-half-year prison term in a bribery case in 2018.

Lee is the vice-chairman of Samsung Electronics, the world’s biggest smartphone maker. The conglomerate’s overall turnover is equivalent to about one-fifth of South Korea’s gross domestic product.

He was jailed for offences connected to a massive corruption scandal that brought down former president Park Geun-hye.

There is a long history of top South Korean tycoons being charged with bribery, embezzlement, tax evasion or other offences.

News Related

OTHER NEWS

Should I confess it was me who fell asleep in the Zoom meeting?

An employee was caught snoozing during a Zoom meeting. Getty Images I fell asleep for a couple of minutes during a Zoom meeting. My camera was off, and there were ... Read more »

Choosing to have two jobs can be more satisfying than one

For many, working two jobs is a choice that can enrich lives — and career prospects — in many ways. Shutterstock We often associate working multiple jobs as a way ... Read more »

174 dead as tear gas triggers stampede to exit soccer match in Indonesia

At least 174 people have died in a stampede after tear gas fired by police sparked panic among fans rioting after a soccer match in Indonesia, in one of the ... Read more »

Philippines’ pet weddings, blessings highlight World Animal Day

Pomeranian dogs Michi and Mochi were among 15 four-legged couples that tied the knot at a pet wedding ceremony in the Philippines on Sunday that was held along with a ... Read more »

That's quite an Eiffel! Kimberley Garner flashes her pert bottom as she cruises past iconic landmark during Paris Fashion Week

Kimberley Garner put on a very peachy display as she posed up a storm in a Sunday Instagram video, taken during a trip to the French capital during Paris Fashion ... Read more »

Lizzie Cundy dazzles in a plunging silver minidress and matching sequinned boots as she departs her Talk TV show

Lizzie Cundy dressed to impress in an eye catching glittering ensemble on Saturday evening as she departed her Talk TV show in London. The former WAG, 53, showed off her ... Read more »

MySejahtera introduces new digital blood donor card feature

The MySejahtera app isn’t as widely used now as it was when we needed it to check in at various places. But that doesn’t mean the government wants to let ... Read more »

Enjoying the Balmoral sunshine: King Charles waves to well-wishers en route to Crathie Church as he attends Sunday service with Queen Consort Camilla

The King, 73, waved at those who'd gathered close to Crathie Church in Balmoral on Sunday morningCharles attended the service alongside Camilla, Queen Consort, 75, as the couple spend time north of the border following the end of the period of private mourning for the late Queen The couple are currently staying at Birkhall on the Balmoral estate, which Charles inherited following the death of his grandmother, the Queen MotherIt was revealed yesterday that King Charles is hoping to turn Balmoral into a public memorial to the Queen by opening it up further to visitors for more of the year Read more »

Giants vs. Bears: Preview, predictions, what to watch for

An inside look at Sunday’s Giants-Bears Week 4 matchup at MetLife Stadium. Marquee matchup Bears DE Robert Quinn vs. Giants LT Andrew Thomas This is a high-level battle. Quinn, 32, ... Read more »

Commentary: College football review: From Lincoln Riley to Brent Venables, grading new coaches

Just how bad was the Oklahoma Sooners’ defense on Saturday during their 55-24 humiliation at the hands of Texas Christian? The numbers spell it out clearly: 27 first quarter points. ... Read more »

Pope Francis appeals to Russian President Vladimir Putin to end 'spiral of violence and death,' decries nuclear war risk

Pope Francis appeals to Russian President Vladimir Putin to end 'spiral of violence and death,' decries nuclear war risk Pope Francis appeals to Russian President Vladimir Putin to end 'spiral ... Read more »

Two men charged over alleged assault of Prince Andrew heckler

Image: Prince Andrew was walking behind the hearse when a man shouted out Two men have been charged over the alleged assault of a man who heckled Prince Andrew as ... Read more »

Europe travel bucket list: Northern Lights, Pompeii and Lake Como among top 50 destinations and experiences

The European bucket list includes seeing the Northern Lights (Paul Zizka /SWNS) The European travel bucket list for people in the UK includes seeing the Northern Lights, the Eiffel Tower ... Read more »

Column: USC star Caleb Williams rebounded against Arizona State. Is he ready for bigger tests?

Caleb Williams is the kind of player who can make an entire stadium “ohhhh” multiple times a game. By spinning out of a certain sack. With a jump pass to ... Read more »

Orioles pitchers: We weren’t pitching around Aaron Judge

Both of the Orioles’ pitchers and their manager insisted their plan against Aaron Judge on Saturday was merely a matter of locating pitches as carefully as possible. Not one of ... Read more »

Over 25 deaths as packed tractor wagon overturns in India

A relative mourns near the body of one of victims of a road accident in Kanpur, Uttar Pradesh state, India, Sunday, Oct.2, 2022. A farm tractor pulling a wagon loaded ... Read more »

Police issue warning on surge in phishing scams involving Singpass

SINGAPORE – The police have warned against a surge in a new type of phishing scams where fraudsters target victims through SMSes to obtain their Singpass log-in credentials. Members of ... Read more »

Who won the London Marathon 2022? Results from this year’s iconic race, time they won it in and past winners

The took place today, with a taking to the streets of the English capital. Meanwhile, it is thought that around the same number completed in this year’s ‘virtual’ race, which ... Read more »

Two men, 34, are charged with assault after heckler, 22, who 'verbally abused Prince Andrew' was 'thrown to the ground' during Queen's coffin procession

Two 34-year-old men were charged with the assault of a Prince Andrew hecklerThe 22-year-old protester was seen shouting at the disgraced Duke of YorkAndrew, 62, was walking behind mother's coffin on the Royal Mile in Edinburgh He stopped royal duties in 2019 due to involvement with the late Jeffrey Epstein  Read more »

Polls open in Brazil for election that could return a leftist president after four years of far-right politics

Polls open in Brazil for election that could return a leftist president after four years of far-right politics Polls open in Brazil for election that could return a leftist president ... Read more »

Caruso cuts into Bass’ lead, poll finds, as L.A. mayoral race heads into final weeks

Rick Caruso has made significant progress in the race for mayor, closing a large part of the gap with Rep. Karen Bass since August, but the billionaire businessman still trails ... Read more »

Another Jan. 6? Bolsonaro attacks Brazil’s election, raising fears of violence

Brazilians head to the polls on Sunday for a first round of voting that could mark the beginning of the end for Brazilian President Jair Bolsonaro — and experts are ... Read more »

3 keys to a Giants win over the Bears

1. STOP THE RUN The Chicago Bears’ 297 passing yards are the least by a team through three games since 1981. The Bears’ 560 rushing yards rank second in the ... Read more »

Samsung Galaxy A14 renders leaked, reveal barely any changes in design

For smartphones, you don’t usually see any design changes in succeeding models. That’s because it’s hard to make significant changes without adding to the manufacturing cost. In particular, entry-level devices ... Read more »

Escaped inmate from Connecticut captured at his birthday party in Georgia

Forenza Murphy, who escaped a halfway house in August, was caught by police in Georgia at his birthday party. Henry County Sheriff’s Office A fugitive on the run from Connecticut ... Read more »

Jets vs. Steelers: Preview, predictions, what to watch for

An inside look at Sunday’s Jets-Steelers Week 4 matchup in Pittsburgh: Marquee matchup Steelers’ defensive line vs. Jets’ offensive line The Steelers lost their star pass rusher, T.J. Watt, to ... Read more »

KPRC 2 Investigates: Judge reprimands body shop owner for failing to pay back victims

HOUSTON – When the law finally catches up to criminals, they may be sentenced to jail or probation. Sometimes they’re ordered to pay what’s called restitution to reimburse their victims ... Read more »

What channel is Leeds United v Aston Villa on today? Kick off time and how to watch

Leeds United succumbed to defeat last time out against Brentford. Following a turbulent international break, Leeds United will return to action to take on Aston Villa in their first game ... Read more »

Mets turn to easygoing Chris Bassitt in key series finale vs. Braves

ATLANTA — Some pitchers, in the hours before their starts, refuse to speak to others. They visualize. They concentrate. Maybe they put on earbuds and literally block out the noise ... Read more »

What Happened To The Southern Wind On Deadliest Catch?

Discovery/YouTube Discovery’s pulse-pounding reality series “Deadliest Catch” has been on the air for close to two decades now. And over that span, the series has arguably delivered more high-stakes fishing ... Read more »

What channel is Man City v Man Utd on today? Kick off time and how to watch Manchester derby on TV

Manchester United face Manchester City this weekend. Credit: Getty. Manchester City and Manchester United do battle today in the Premier League for what is the first derby of the 2022/23 ... Read more »

Op-Ed: As a new Supreme Court term begins, prepare for the law to move even more to the right

As the Supreme Court begins its new term on Monday, it’s clear that the court’s majority is determined to move the law much further to the right. The last term ... Read more »

Creation, destruction, sensation: Damien Hirst’s burning desire to destroy art worth £10m

Take two cultural phenomena, both designed to confound us, which are now each worth lots of money: the art of Damien Hirst and the equally infamous non-fungible tokens, or NFTs. ... Read more »

NFL Week 4 predictions: Titans a live underdog vs. Colts

Home team in CAPS: Sunday Titans (+3.5) over COLTS Tennessee has frequently been good to us when occupying the underdog role over the years, and certainly willing to take another ... Read more »

“That Isn’t Me”: UK Chancellor Tells News Website It Has Picture Of Wrong Man

Britain’s Chancellor of the Exchequer Kwasi Kwarteng Justin Tallis/Getty Images UK newspaper The Mirror has apologised for its “terrible error” after mistakenly including a picture of the wrong person in ... Read more »

Vikings vs. Saints predictions: Odds and picks for early London game

Our NFL betting expert brings you his best Vikings vs Saints predictions and picks for their NFL week 4 match-up, which is live Sunday on NFL Network at 9:30 a.m. ... Read more »

Liz Truss ‘stands by’ tax cuts but admits she should have ‘laid the ground better’ for her mammoth surprise package

LIZ Truss today insisted she “stands by” her bumper tax cuts – but admitted she should have “laid the ground better” for the package. Despite spooking the markets and sending ... Read more »

Where Jeff McNeil stands in NL batting race

ATLANTA — Jeff McNeil’s pursuit of Mets history remains an interesting subplot in these final days of the regular season. The Mets utilityman increased his batting average to .323 by ... Read more »

Railway union chiefs threaten to ruin CHRISTMAS with more crippling strikes disrupting holiday travel plans for millions

RAIL union bosses could ruin Christmas for millions as they threaten crippling strikes over the festive period. It comes after an estimated 2.5million journeys were disrupted after yesterday’s industrial action ... Read more »

Hailey Bieber shows off her incredible figure in a plunging coral midi dress at the Barbara Berlanti Heroes Gala benefiting F*** Cancer campaign

Hailey Bieber attended the Barbara Berlanti Heroes Gala benefiting F*** Cancer, which was held at the Barker Hangar in Santa Monica on Saturday evening. The model, 25, dress to impress ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network