AI Memory Boom Sparks Global Chip Supply Crunch 
Oil Prices Recover Slightly as U.S. Crude Inventories Fall, But Iran Deal Caps Gains 
Dollar Slips as U.S.-Iran Peace Deal Optimism Boosts Risk Appetite Ahead of Fed Decision 
U.S. Gasoline Prices Fall Below $4 as U.S.-Iran Deal Eases Oil Market Concerns 
BOJ Raises Interest Rates to 1% as Inflation Pressures Persist 
Trump Administration Closes Delta Air Lines Investigation Over 2024 CrowdStrike Outage 
GM and Lockheed Martin Partner to Strengthen U.S. Defense Manufacturing Capacity 
Anthropic Officials Meet White House Over AI Model Outage 
UK Banks Report Surge in APP Fraud Losses as Pressure Mounts on Meta and Tech Platforms 
ByteDance Eyes Iluvatar, Baidu AI Chips Amid China’s AI Push 
RBA Expected to Hold Interest Rates at 4.35% as Markets Watch AUD/USD and ASX 200 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Trump Administration Delays DeepSeek and CXMT Trade Blacklist Designations Amid U.S.-China Tensions 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
ASX Proposes New Share Dilution Limits for Public Takeovers 
Lazard Challenges Centerview for Role in Venezuela’s Massive Debt Restructuring 
Lee Jae Yong, the Samsung Electronics’ jailed chairman and company heir, was said to have a hand in closing the deal between South Korea and Pfizer for additional 20 million COVID-19 vaccines. This is why he is receiving attention lately despite being in prison and facing various cases.
Samsung heir’s role in Pfizer vaccine procurement
As per The Korea Herald, Lee Jae Yong’s role in the purchase of the coronavirus vaccines was facilitating the talks between his country and the American pharmaceutical company. Last weekend, Seoul confirmed that it was able to obtain enough COVID-19 vaccines for 20 million citizens.
This was an additional order as the previous batches have already run out, and there were fears for a shortage. The government and the citizens have started to worry about the lack of vaccine supply after reports of side effects to those who had the AstraZeneca shots have surfaced.
Since they need to find another option, apparently, S. Korea opted for Pfizer. Now, since it is hard to place an order for the vaccines that are in demand worldwide, Samsung’s de facto leader served as a bridge between Korea and Pfizer, and a deal has been sealed.
Lee Jae Yong’s hand in this important deal is now the talk of the town, and the public response is really positive now, even if he has been convicted for his past wrongdoings. In any case, it was said that he used his personal network to connect with Shantanu Narayen, an independent director of Pfizer.
The request to pardon the Samsung leader
Meanwhile, there is also a call for the Samsung heir to be pardoned. Yonhap News Agency reported that major business associations in S. Korea have agreed to write a letter to the government and request for Lee to be absolved.
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 have all signed the letter for the government officials to show clemency on the Samsung head that was sentenced to two and a half years in jail for bribery charges.
"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 business groups explained as the reason for their request.
