Jailed Samsung boss Lee released on parole in the national interest

As reported recently, Samsung boss Lee Jae-yong has recently been released from a South Korean prison and is now on parole. Till the date of his parole, Lee served a total of 207 days in jail, which is just half of the sentence he received over the charges of bribery and embezzlement in January.

Outside the prison, Lee made a brief statement to reporters:

“I’ve caused much concern for the people. I deeply apologise,” Lee said. “I am listening to the concerns, criticisms, worries and high expectations for me. I will work hard.”

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Around a week ago, the South Korean ministry of justice announced that after considering the national credit risk, global economy, and other conditions, it has decided to release Samsung Lee Jae-yong on parole. However, Lee is expected to be released from prison on August 13.

Lee still can’t take over Samsung?

South Korean media report revealed that Lee won’t be able to return to his business post after his release because it is parole and not a pardon. Furthermore, he will be restricted from employment for the next five years and won’t be able to take over Samsung’s management affairs.

Back in 2016, Lee Jae-yong was involved in the bribery case of former South Korean President Park Geun-hye and was arrested on February 17, 2017. He was accused of bribing an organization controlled by Park Geun-hye’s close friend Choi Soon-sil to ensure support for the merger of Samsung’s two subsidiaries.