Samsung Electronics Vice-Chairman Jay Y. Lee granted parole
Photo: Reuters
Kathmandu, Aug 13. Samsung Electronics Vice Chairman Jay Y Lee has been granted parole and is expected to leave prison on Friday. Lee was convicted of bribery, embezzlement and other charges.
He is convicted of bribing a friend of former President Park Geun-hye and has served 18 months of a revised 30 month sentence.
South Korea’s justice ministry said in a statement, “The decision to grant Samsung Electronics vice chairman Jay Y. Lee parole was the result of a comprehensive review of various factors such as public sentiment and good behavior during detention”.
Company sources have revealed that major decisions have come to a halt as it was specifically meant to be done by Lee. Many companies in South Korea still have families running businesses granting little or no power to outsiders.
The Federation of Korean Industries said in a statement that it welcomed the decision to grant Lee parole.
Lee is also on trial accused of accounting fraud and stock price manipulation. The case is connected to a 2015 merger of two Samsung companies. A South Korean court decided that he should be tried in separate case in which he has been accused of unlawfully using a sedative.
Lee, however has denied the accusations in both cases.
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