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Lee Jae Yong is still in prison and completing his two and a half year sentence for bribery. With the Samsung chief and heir unable to work in full capacity, business leaders in South Korea have called on for his pardon.
Petition of Samsung heir’s freedom
A group of businessmen that heads major companies came together to petition for Lee Jae Yong’s pardon and their letter was forwarded to the Blue House last month. President Moon Jae In’s administration has yet to make a decision about it.
Late last month the business community led by five major lobby groups including the Korea Chamber of Commerce and Industry, the Korea International Trade Association, the Korea Enterprises Federation, the Federation of Middle Market Enterprises of Korea and the Korea Federation of SMEs, signed and submitted a pardon recommendation letter to the Blue House.
The businessmen cited the challenging situation and chip shortage problem as the main reason for their petition. They said that with Lee Jae Yong’s absence he cannot address many issues in the industry and in turn, South Korea may lose the no. 1 status in the chip business.
AMCHAM Korea joins in
Now, nearly a month after the petition was submitted, the American Chamber of Commerce in Korea (AMCHAM Korea) has also joined in and is asking for Lee Jae Yong to be released earlier than his prison term, as per Maeil Business News.
It was reported that the group also sent a fresh letter to President Moon Jae In and told the leader that if Samsung does not fully engage in supporting the U.S. administration, S. Korea’s position as a strategic partner of America will be jeopardized.
AMCHAM Korea’s call was said to have come before the Korean president meets with President Joe Biden in Washington this Friday, Chosun Ilbo reported. "We believe that a pardon of the most important executive of Samsung is in the best economic interest of both the U.S. and Korea," AMCHAM Korea’s chairman James Kim said in a statement.
In any case, addressing the calls for Lee Jae Yong’s pardon, President Moon said on May 10, "Though it's said that the matter is in my hands, it's not an easy issue that I can decide as I please." He explained that he will be listening to many opinions before finally making a decision. Meanwhile, AMCHAM Korea is a group of 800 American companies that are doing business in the country. Korea.
