OpenAI Executive Brad Lightcap to Leave for New AI Venture 
England Drought Expands to 71% as Heatwave Deepens Water Crisis 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
Cisco Forecasts Strong Fiscal 2027 Growth as AI Networking Demand Surges 
US Judge Dismisses Gautam Adani Criminal Charges 
Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Google Pushes Gemini AI Overhaul as Sergey Brin Targets Model Supremacy 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Australia Sets New Minimum Pay, Insurance Rules for Gig Workers 
Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
Airbus Joins Air India A320 Altitude Drop Probe 
Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Gold Price Holds Near $4,400 as Hormuz Risks and CPI Drive Markets 
Natura Q2 Profit Plunges 92% as Financial Expenses Weigh on Earnings 
Add as a preferred source on Google
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.
