Order the King of Android! Get your Galaxy S25 Ultra today! Follow us on Google news!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

News For You
Notifications

Is the Korean president about to let the Samsung heir out of jail?

Business
By 

Last updated: June 1st, 2021 at 10:45 UTC+02:00

Samsung vice chairman and heir to the conglomerate Lee Jae-yong is serving out a 2.5 year sentence in jail. He decided against appealing the sentence. So unless he's given some relief by the country's president, he'll remain in prison.

There are growing calls in South Korea for Lee Jae-yong to be pardoned. From business leaders to US companies and even Buddhist monks. All have called on President Moon Jae-in to grant the pardon. A crucial meeting between the president and top business executives in South Korea is scheduled for tomorrow. Many expect that the president might say something about the matter there.

Freedom may be on the horizon for the Samsung heir

President Moon Jae-in has previously said that he remains open to the possibility of granting a pardon to Lee Jae-yong. He's set to meet leaders of South Korea's top four conglomerates over a luncheon tomorrow. Observers will be watching the meeting closely for any hints that the president may drop on pardoning or paroling the imprisoned Samsung heir.

This will be the first meeting of its kind in Moon's final year in office. Participants include Samsung Electronics Vice Chairman Kim Ki-nam, Hyundai Motor Group Chairman Chung Euisung, LG Group Chairman Koo Kwang-mo and SK Group Chairman Chey Tae-won.

Observers have high expectations for a “special measure” that might see Lee Jae-yong's prison stay cut short. These four business groups contributed to a highly successful summit between President Moon Jae-in and US counterpart President Joe Biden by pledging to invest billions of dollars in the EV battery, semiconductor and automobile sectors in America. The four conglomerates have pledged a combined $39.45 billion in investments for the US.

“Under the circumstance, there's a fair chance that the release of Lee, in the form of either a pardon or on parole, will be brought up during the luncheon,” says Shin Yul, a professor of political science at Myongji University.

Political observers in South Korea feel that the president will have to balance the political risk of providing a pardon or parole to the Samsung heir. While parole will set him free, it will not allow Lee to resume work. A pardon will enable him to get back to work immediately which is what Lee and Samsung likely want.

All eyes are now on the luncheon tomorrow and whether the topic of Lee's freedom will be brought up by any of the participants.

Business Lee Jae-yongSouth Korea
Galaxy AI summarized

Scroll for more related content
News For You

You might also like

Galaxy S23 FE gets February 2025 security update in Korea

Galaxy S23 FE gets February 2025 security update in Korea

Recently, Samsung released software updates to the Galaxy S25 and the Galaxy S24 series that offered the February 2025 security patch. Now, the company is rolling out the latest security update to its flagship lineup of smartphones from 2023. However, only one of the devices in it is getting it at the moment, the Galaxy […]

  • By Abid Iqbal Shaik
  • 6 hours ago
First software update arrives for Galaxy S25!

First software update arrives for Galaxy S25!

Samsung has released the first software update to the Galaxy S25 series. It brings the latest security patch and bug fixes to the company's newest high-end phones. Let us learn more about the new update. Galaxy S25 gets first software update, bringing February 2025 security patch The Galaxy S25, Galaxy S25+, and Galaxy S25 Ultra […]

  • By Daniel van Dorp
  • 2 days ago
Samsung launches S85F OLED TV in South Korea

Samsung launches S85F OLED TV in South Korea

At CES 2025, Samsung launched its lineup of OLED TVs for 2025. It has three models, the S85F, S90F, and the S95F. Well, the company has now launched the base model in the series, the S85F, in its home country, South Korea, making it the first region where the TV is going on sale. While […]

  • By Abid Iqbal Shaik
  • 3 days ago
Galaxy Z Fold 6 and Fold SE get February 2025 security update

Galaxy Z Fold 6 and Fold SE get February 2025 security update

Yesterday, Samsung released the February 2025 security patch for the Galaxy S24 series. Now, the company is rolling out the latest security update to the Galaxy Z Fold 6 and the Galaxy Z Fold Special Edition as well. So far, the company has released the software update for the variants of the Galaxy Z Fold […]

  • By Abid Iqbal Shaik
  • 3 days ago
1 out of 5 Galaxy S25 buyers in Korea opting for subscription model

1 out of 5 Galaxy S25 buyers in Korea opting for subscription model

Last month, Samsung launched the Galaxy S25 series, and along with it, the New Galaxy Club program for the latest lineup of phones. The latter is a monthly subscription plan that provides you with up to 50% buyback value on your Galaxy S25 when you upgrade to a newer model as well as Samsung Care+. […]

  • By Abid Iqbal Shaik
  • 4 days ago
Apple may task Samsung to make even more iPhone OLED panels

Apple may task Samsung to make even more iPhone OLED panels

Samsung Display was the first brand to make OLED panels for iPhones. Gradually, Apple started diverting some of those orders to LG Display and then to China's BOE. However, BOE is reportedly facing quality issues, and that is forcing Apple to give those orders to Samsung. Samsung may get more iPhone OLED panel orders as […]

  • By Danny Dorresteijn
  • 5 days ago