Moonshot AI Executives Seek Settlement Ahead of Hong Kong IPO 
Samsung, SK Hynix Shares Plunge as China Chip Competition Grows 
Binance to Shut Down Crypto Mining Pool Services on November 10 
Wells Fargo Expands Stablecoin Plans With 20 Major Banks 
CVS Pharmacy Agrees to $315 Million Opioid Settlement 
Arm Shares Fall Over 3% After Qualcomm Wins License Dispute 
Bank of America Hit With $1.2 Billion Fine Over Money Laundering Failures 
Visa Wins China Approval to Prepare Domestic Payments Expansion 
Albertsons Seeks $9.3 Billion From Kroger Over Failed Merger 
Interactive Brokers Launches Ethereum Staking With Zerohash 
Nvidia’s China AI Chip Market Share Falls to 34% as Huawei Gains Ground 
Canton Network Expands Wall Street Reach With Ripple Integration 
South Korea Blocks 27 Crypto Exchange Websites in Regulatory Crackdown 
Nvidia Invests in Four French AI Companies to Expand European Presence 
Arm Breaches Qualcomm License Deal, Jury Awards $2 
Tesla Holds $960 Million in Bitcoin as BTC Gains Top $710 Million 
Add as a preferred source on Google
Some groups want Lee Jae Yong to be pardoned by the South Korean government because they think as the Samsung chief, he will be able to help solve some of the pressing issues in the tech world, especially about chip shortage.
Business leaders’ submit letter for pardon recommendation
On April 26, a group of business leaders submitted a letter to the Blue House in an effort to free the jailed Samsung heir. The petition was said to have been brought to the president’s office by the people led by CJ Group’s chief, Sohn Kyung Shik.
In their letter, the businessmen wrote, "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 submission of the petition early this week was in the planning since the previous week. At that time, the group was still gathering to unite and work together so Lee Jae Yong may be pardoned and quickly get back to his work as the Samsung head.
Response to the petition
The petition finally reached the hands of the officials at the Blue House, but it was reported that President Moon Jae In may not issue the pardon that the business leaders were requesting for Lee Jae Yong.
As per The Korea Herald, this is because the president has maintained a prudent approach to issuing pardons, and there is no exception even for the Samsung vice chairman who needs to complete a two and a half years jail sentence for bribery.
“We never discussed the issue and have no plans to do so for now,” a Cheong Wa Dae official reportedly told the press on Tuesday after the petition was filed.
It was said that former leaders of South Korea usually pardons chaebol owners because of their huge roles in boosting the country’s economy. Other times, they may also be involved in high-profile talks such as hosting an important event like the Olympics, and in these instances, they are granted clemency.
It was explained that Lee Jae Yong’s case is different because it involves serious cases of embezzlement, breach of trust, and bribery. Moreover, Moon vowed not to abuse his clemency power for grave offenses, as mentioned. Meanwhile, the president has not pardoned anyone yet so far.
