US Stock Futures Steady as Cooling Inflation and Strong Earnings Support Markets 
Wall Street Falls as Oil Prices Rise, Fed Minutes and Retail Earnings in Focus 
BSP Sees Philippine Inflation Easing, Keeps Policy Options Open 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
Aviva First-Half Operating Profit Jumps 24% as Direct Line Deal Boosts Growth 
NAB Q3 Cash Earnings Rise 2% as Lower Credit Charges Boost Profit 
Ferrari Luce EV Sells for Record $40 Million at Charity Auction 
European Stocks Edge Higher as Fed Rate Pause Bets Rise 
Malaysia Inflation Eases to 1.8% in July, Below Forecast 
BofA Sees Micron EPS Topping $230 by 2030, Backs Major Stock Upside 
US Dollar Slips as Weak Retail Sales Reduce Fed Rate Hike Bets 
Lockheed Martin Secures $153.5 Million in U.S. Defense Contracts 
Alphabet Eyes First Australian Dollar Bond as AI Spending Drives Funding Push 
J.P. Morgan Upgrades SanDisk, Sets $2,250 Price Target on AI NAND Growth 
Citadel Warns High Treasury Yields Pose Broader Market Risks 
Japan Economy Grows 1.1% in Q2 as Consumer Spending Stalls 
Add as a preferred source on Google
Samsung Electronic's vice chairman Lee Jae Yong and Lotte Group's chairman Shin Dong Bin were previously declared guilty of bribery and graft, which sent them to jail for months. Now both the private and business sectors are calling for the present government of South Korea to pardon the two for the sake of economic recovery.
According to The Korea Times, the calls to pardon the Samsung and Lotte chiefs are growing, especially now that the Korean economy is facing a tough time due to inflation and other issues.
People want the economy to be healthy again, and with the slow recovery, they believe that pardoning the executives to allow them to work in their companies without any limitations will be a big help in achieving better results in the market and surely invigorate the Korean economy.
Most people are urging the country's President Yoon Suk Yeol to pardon the top executives to rev up new investments and generate more jobs. This will help the economy tackle the surging prices of goods and services in addition to the prolonged COVID-19 pandemic.
Many are now expecting the president to grant the presidential pardon to both Samsung's Lee Jae Yong and Lotte's Shin Dong Bin on Aug. 15, which is Liberation Day in Korea. This event is always remarkable as selected, and deserving convicts are usually pardoned by the country's leader on this day. Aside from Lee and Shin, a special pardon is also expected for former President Lee Myung Bak and Kim Kyung Soo, the former governor of South Gyeongsang Province.
The chairman of the Korea Chamber of Commerce and Industry (KCCI), Chey Tae Won, also stressed last week that there is a need for special pardons for top business executives. Chey is also the chairman of the SK Group.
"I have long maintained that business leaders should be granted more leniency if circumstances allow," Chey stated at a recent press briefing in Jeju Island. "I am asking for an environment whereby business activities can proceed more freely and extensively to help weather economic challenges."
Finally, Kweon Seong Dong, the floor leader and acting chairman of the People Power Party and Prime Minister Han Duck Soo, also said last week that they are in favor of the pardoning of the business leaders as this will help the country's economy.
