Jay Y. Lee, vice chairman of the world’s biggest memory chip maker, Samsung Electronics, will be recommended for a presidential pardon by South Korean Prime Minister Han Duck-soo.
Leem who is the heir to the world’s largest chipmaker had been found guilty of bribery and embezzlement in January last year. The tycoon had been released on parole in August after completing 18 months of his 30 months long sentence.
Responding to a question in parliament whether he would recommend that President Yoon Suk-yeol review pardons for key business leaders, including Lee, Prime Minister Han Duck-soo said he would. If Yoon agrees, the pardon could come around the time of South Korea’s Independence Day on Aug. 15, when they are traditionally handed out, reported media agency Reuters.
Even as Lee’s prison term is set to finish on Friday, a presidential pardon would be only be symbolic. But such a move will enable the Samsung heir to carry out business activities more freely.
When questioned, President Yoon declined to answer reporters’ questions regarding the issue last week.
According to media outlet Reuters, since Lee’s parole, key Samsung moves have included choosing Texas for the U.S. location of a new $17-billion chip plant, the merger of its mobile and consumer electronics divisions and new co-CEOs in its biggest reshuffle since 2017.
Lee is still involved in separate trial over allegations of accounting fraud with regards to an $8-billion amalgamation of two Samsung -owned firms in 2015.
