Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 
Shell Raises Q2 Upstream Outlook, Flags Qatar Gas Hit as Shares Rise 
Asian Currencies Slip as Stronger US Dollar, Iran Tensions Pressure Regional FX 
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy 
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets 
Oil Prices Rise as U.S.-Iran Conflict Fuels Strait of Hormuz Supply Fears 
Japan Regional Bank Stocks Drop After Zentoshin Bankruptcy Sparks Credit Risk Concerns 
European Stocks Hold Steady as Consumer Shares Rise, AI Tech Selloff Weighs on Markets 
Lockheed Martin, Rheinmetall Plan First ATACMS Missile Production in Germany 
Chinese Chip Stocks Jump as Apple Reportedly Tests CXMT Memory Chips for China Devices 
BHP Faces Port Hedland Strike Threat as Iron Ore Export Risks Grow 
Oil Prices Rise as Strait of Hormuz Risks Offset OPEC+ Supply Increase 
Zhipu AI Raises HK$31.37 Billion in Discounted Share Sale to Accelerate AI Growth 
Meta Says States Seek $1.4 Trillion in Penalties Over Teen Social Media Addiction Lawsuit 
US Launches New Iran Strikes as Strait of Hormuz Conflict Escalates, Oil Prices Rise 
Oil Prices Jump as Middle East Tensions Shake Markets, AI Rally Loses Steam 
TetherMax Rebranding Highlights Official Exchange Partnerships and Transparent Operations 
Lee Jae Yong, Samsung heir, and the company’s de facto vice-chairman, is currently in prison and serving his two and a half years sentence that was handed down by the Seoul High Court in January. He was found guilty of bribing the then South Korean president Park Geun Hye.
His sentencing earlier this year is actually the second time he was imprisoned, as he was previously put behind bars for bribery, embezzlement, and perjury. He was jailed in 2017 but was freed before completing his five-year jail term. Then less than three years after walking away from the prison, he was sent back in January.
Businesses to request for his release
Now, Yonhap News Agency reported that major business lobby groups in South Korea are planning to write to the government and recommend pardoning the Samsung leader.
It was mentioned that the five parties who agreed to write a pardon recommendation letter for Lee Jae Yong include 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.
The plan of the groups was revealed on Thursday, April 22, and it was said that they agreed to forward the recommendation letter to the government before this month ends. This information was divulged by insiders as per the report. The parties cited the country’s economy as the main reason for their decision to ask for Lee’s pardon.
"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," part of the drafted letter reads.
Lee Jae Yong denied new charges at a hearing on succession
Meanwhile, the Samsung Electronics leader is also attending another case while he is in jail. On Thursday, the first hearing on his company succession was held, and as per The Korea Herald, Lee denied all the accusations hurled against him.
He refuted the allegations that there were irregularities with his ascension to head the Samsung Group. He also pleaded not guilty to charges that include illicit trading, stock market manipulation, and breach of trust.
“I cannot admit to the indictment,” he told the judge at the court hearing at the Seoul High Court. “I deny all the charges.”
