Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

South Korea to release Samsung scion on parole

South Korea says it will release billionaire Samsung scion Lee Jae-yong on parole this week after he spent 18 months in prison for his role in a massive corruption scandal that triggered nationwide protests and led to the ouster of the country’s previous president

Via AP news wire
Monday 09 August 2021 06:15 EDT
South Korea Samsung
South Korea Samsung (Copyright 2021 The Associated Press. All rights reserved.)

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

South Korea will release billionaire Samsung scion Lee Jae-yong on parole this week after he spent 18 months in prison for his role in a massive corruption scandal that triggered nationwide protests and led to the ouster of the country’s previous president.

The announcement Monday by the Justice Ministry, which came with a year left on Lee’s 30-month sentence, extends a history of leniency toward major white-collar crime and preferential treatment for convicted tycoons. It tarnishes the reformist image of President Moon Jae-in who after winning a presidential by-election in 2017 vowed to curb the excesses of “chaebol,” South Korea’s family-owned conglomerates, and end their cozy ties with the government.

Lee, who has been imprisoned since January, runs the Samsung group in his capacity as vice chairman of Samsung Electronics, one of the world’s largest makers of computer memory chips and smartphones.

He was convicted of bribing then-President Park Geun-hye and her close confidante, who are serving lengthier prison terms, to win government support for a 2015 merger between two Samsung affiliates that tightened his control over the corporate empire.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in