Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
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.”
