South Korea to release jailed Samsung leader Lee Jae-yong on parole
- He served 18 months of his prison sentence for his role in bribing then-president Park Geun-hye and her close confidante
- Business leaders and key members of President Moon Jae-in’s government endorsed Lee’s early release, citing Samsung’s crucial role in the economy
The announcement on Monday by the Justice Ministry, which came with a year left on Lee’s 30-month sentence, extends a history of leniency toward major white-collar crime and preferential treatment for convicted tycoons. It could tarnish the reformist image of President Moon Jae-in, who vowed to curb the excesses of “chaebol”, South Korea’s family-owned conglomerates, and end their cosy ties with the government.
Lee, also known as Jay Y. Lee, has been imprisoned since January. He runs the Samsung group in his capacity as vice-chairman of Samsung Electronics, one of the world’s largest makers of computer memory chips and smartphones.
He was convicted of bribing then-president Park Geun-hye and her close confidante, who are serving lengthier prison terms, to win government support for a 2015 merger between two Samsung affiliates that tightened his control over the corporate empire.
Business leaders and key members of Moon’s government and ruling party have endorsed Lee’s early release in recent months, citing Samsung’s crucial role in the national economy and the increasing challenges it faces in the global semiconductor market.
Recent polls have indicated that South Koreans – years removed from the angry rallies of 2016 and 2017 – are largely in favour of Lee’s release, showing Samsung’s deep influence in a country where it provides the smartphones, TVs and credit cards people use, the apartments they live in and the hospitals where they are treated.
