Samsung vice chairman Jay Y. Lee gets presidential pardon

Jay Lee

South Korea’s President Yoon Suk-yeol has pardoned Samsung Electronics Vice Chairman Jay Y. Lee.

Lee was needed to help South Korea overcome a “national economic crisis”, according to Seoul’s Justice ministry.

Lee had served 18 months in jail for bribery relating to his time leading Samsung, the world’s biggest smartphone and memory-chip maker.

Lee is already out on parole.

Also pardoned by pro-business President Yoon was Lotte Group chairman Shin Dong-bin.

Dong-bin was sentenced to a two-and-a-half-year prison sentence on charges of bribery.

Prior to the presidential pardon, Lee had returned to the limelight, appearing in May with President Yoon and U.S. President Joe Biden when they visited Samsung’s Pyeongtaek chip production facilities.

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