1.2 C
London
Thursday, February 9, 2023

Samsung heir receives presidential pardon in attempt to ‘overcome economic crisis’ – londonbusinessblog.com

Must read

South Korean minister sacked for falling in love with Halloween crowd

SEOUL, South Korea — The opposition-controlled South Korean parliament on Wednesday voted to impeach Interior and Security Minister Lee Sang-min, holding him accountable for...

Nintendo releases trailers for new Zelda and Pikmin games • londonbusinessblog.com

Nintendo hosted a 45-minute Nintendo Direct live stream on Wednesday, revealing upcoming games and updates for Nintendo Switch. As many players expected, Nintendo shared a...

Google announces global rollout of AI-powered ‘multisearch’ on mobile devices • londonbusinessblog.com

To get a roundup of londonbusinessblog.com's biggest and most important stories delivered to your inbox every day at 3PM PST, register here. Hello crispy treats, I...

Lee Soo-man is suing SM Entertainment for violating the agency’s rules

Lee Soo's agent, Hwawoo Legal Firm, released a statement on February 7 outlining his position on suing SM Entertainment for violating corporate rules. ...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Jay Y. Lee, vice chairman of Samsung Electronics, will be pardoned by the president on Monday, South Korea’s justice ministry said.

Lee was released on parole last year after serving 18 months in prison for bribing former South Korean President Park Geun-hye. The parole banned Lee from serving for five years and limited travel abroad. The pardon will erase the 54-year-old CEO’s criminal record from his 2017 conviction.

The special grace allows Samsung’s de facto leader Lee, the grandson of Samsung’s founder, to officially join the management, restoring his right to work at the giant tech company. His arrival is expected to help Samsung accelerate decision-making on key strategies, from chipmaking to investment plans.

The pardon comes as the semiconductor industry faces challenges such as supply shortages due to the coronavirus pandemic, inflation and logistical issues.

A South Korean government official said the special grace to business leaders, who consider their role in directing national growth through technology investment and job creation, will help overcome the national economic crisis.

londonbusinessblog.com has reached out to Samsung for additional comment.

This is a story in development. More to follow…

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

South Korean minister sacked for falling in love with Halloween crowd

SEOUL, South Korea — The opposition-controlled South Korean parliament on Wednesday voted to impeach Interior and Security Minister Lee Sang-min, holding him accountable for...

Nintendo releases trailers for new Zelda and Pikmin games • londonbusinessblog.com

Nintendo hosted a 45-minute Nintendo Direct live stream on Wednesday, revealing upcoming games and updates for Nintendo Switch. As many players expected, Nintendo shared a...

Google announces global rollout of AI-powered ‘multisearch’ on mobile devices • londonbusinessblog.com

To get a roundup of londonbusinessblog.com's biggest and most important stories delivered to your inbox every day at 3PM PST, register here. Hello crispy treats, I...

Lee Soo-man is suing SM Entertainment for violating the agency’s rules

Lee Soo's agent, Hwawoo Legal Firm, released a statement on February 7 outlining his position on suing SM Entertainment for violating corporate rules. ...

Most people can tweet again, but Twitter is still having problems

However, Twitter seems to be recovering from technical issues that prevented people from tweeting problems with DMsand access to TweetDeck still seems to persist....