Lee Jae-yong: Samsung heir released from prison on parole.

Written by on August 15, 2021

Samsung heir Lee Jae-yong has been released from a South Korean prison and is now on parole.

He served 207 days in jail – just over half the sentence he received after being convicted of bribery and embezzlement in January.

The case involved the country’s former President Park Guen-hye, who is also in jail for bribery and corruption.

Samsung Electronics was founded by Lee’s grandfather and he has been the de facto head since 2014 .

Lee made a brief statement to reporters outside the prison.

The 53-year old was sent to prison for two-and-a-half years by a high court in January.

He was accused of paying 43bn won ($37.7m; £26.7m) to two non-profit foundations operated by Choi Soon-sil, a friend of Park’s, in exchange for political support – alleged to include backing for a controversial Samsung merger which paved the way for Lee to become eventual head of the conglomerate.

The deal needed support from the government-run national pension fund.

At the time of his verdict, the court said that Lee “actively provided bribes and implicitly asked the president to use her power to help his smooth succession” at the head of Samsung.

Credit: BBC


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