Lee Jae Yong Wiki – Lee Jae Yong Biography
Lee Jae Yong was sentenced to two and a half years behind bars in January after the Seoul High Court found him guilty of embezzlement and bribery. He now he will be released on August 13, announced the country’s Justice Minister in a televised briefing.
Minister Park Beom-kye said Lee is among 810 other prisoners who have been granted parole on the occasion of the country’s Liberation Day, which marks Korea’s liberation from Japanese imperial rule in 1945. The year Last year, more than 600 prisoners were released on Liberation Day.
Lee Jae Yong Age
Lee Jae Yong is 53 years old.
Lee Jae Yong Samsung chief to be released on parole
The Justice Department decided Monday to pardon the vice president of Samsung Electronics Lee Jae yong, who is behind bars for corruption.
[Breaking News] Samsung’s Lee to be released on parole #LeeJaeYong #Samsung @samsungglobal @Samsung mobile @Samsung https://t.co/MxrYNzMwEs
– The Korea Herald (@TheKoreaHerald) August 9, 2021
On Friday, he was released from the Seoul Detention Center in the southern suburbs of Seoul about eleven months earlier. The third-generation leader of the Samsung group has spent 18 months behind bars, more than 60% of his two and a half years in prison.
He was jailed in January this year after the Supreme Court upheld his conviction for paying former President Park a total of 8.6 billion won ($ 7.51 million) in bribes. through his confidante Choi Soon-sil Geun-hye. The scandal eventually led to the president’s impeachment in 2017.
At the time of his conviction, Lee had already been behind bars for nearly a year in an investigation and a first-degree trial. The de facto head of the Samsung group is among the hundreds of prisoners who will be released on August 15, as part of South Korea’s long tradition of leniency on release day. His release was decided after the ministry’s Parole Board met Monday afternoon at the ministry’s headquarters in Gwacheon, Gyeonggi Province, to review a list of candidates for parole.
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Nine members of the group concluded that Lee was eligible for parole after serving more than 60% of his sentence and acting in an exemplary manner behind bars. Justice Minister Park Beom-gye approved the decision. Monday’s move came amid growing calls for leniency against Lee, with many citing the need for strong leadership at Samsung Electronics to help him navigate a global chip war.
“In consideration of the overcrowded condition of correctional facilities that are vulnerable to infectious diseases and to help us overcome our economic condition, the number of people granted parole has increased significantly this year compared to the year past, “Park said.
Samsung declined to comment on today’s briefing. Lee may not be able to return to work. He is subject to a five-year employment ban under South Korean law, and parolees cannot take business trips abroad until his term ends. Lee can request an exception from the Ministry of Justice, but it is unclear whether he has done so.
Lee was embroiled in a massive influence-peddling scandal that toppled the government of former South Korean President Park Geun-Hye. Park herself is spending about two decades in prison in connection with the case. Lee had been sentenced to five years in prison in August 2017 on charges of bribery and embezzlement but was released after less than a year when an appeals court dismissed some of the charges and suspended the sentence.
However, Lee was sent back to prison in January after being sentenced to two and a half years in a new trial. His father, Lee Kun-hee, president of the company, died last year after being in a coma since he suffered a heart attack in 2014. Young Lee had been operating as the de facto leader of Samsung.
Lee is currently in a separate lawsuit over a controversial 2015 merger that helped him tighten his grip on the company. Prosecutors said the merger of Samsung C&T and Cheil Industries was carried out in a way that allegedly benefited Lee and allowed him more control over Samsung Electronics, the crown jewel of his sprawling family conglomerate.