Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Lee Jae Yong, the Samsung heir, and de facto leader is spending time in jail after he was sentenced to a two and a half year jail term in January of this year. He was convicted in a case related to his bribery activities involving former South Korean president Park Geun Hye.
Business leaders calling for the Samsung chief’s freedom
But it seems that Lee Jae Yong has a chance to shorten his stay in prison as business leaders have started to call for his release. In fact, it was reported last week that business lobby groups have stepped up to ask the government to pardon the controversial Samsung heir.
"With our economy going through tough times and the competition for the global semiconductor market heating up, the pardon of Vice Chairman Lee is increasingly necessary," the group explained as to why they are asking for the officials to pardon Lee Jae Yong.
Based on the report, five major groups in the business arena have united for the call for Lee’s freedom. The parties that agreed to write a letter for leniency to be granted to the embattled Samsung heir are the Korea International Trade Association, the Korea Federation of SMEs, the Korea Chamber of Commerce and Industry, the Federation of Middle Market Enterprises of Korea, and the Korea Enterprises Federation.
Letter for pardon finalized and submitted to the Blue House
This week, the businessmen have finally submitted the petition for the detained Lee Jae Yong to be pardoned. It was said that the letter was sent to the Blue House under the lead of CJ Group’s head, Sohn Kyung Shik, on Monday, April 26.
As per The Korea Herald, amid the escalating issue of chip shortage, the heads of major businesses have come together to publicly declare their request for Lee Jae Yong’s immediate release. Likewise, the business groups are asking South Korea’s President Moon Jae In to “make a decision of reconciliation and tolerance” so that the Samsung VP could proceed to work on addressing the chip shortage at once.
“I suggested to the deputy prime minister that Samsung Electronics Vice Chairman Lee Jae Yong be pardoned and released,” CJ Group’s Sohn told the press. “The pardon decision is not up to the deputy prime minister but the government will hopefully make the related discussions.”
