Beautiful Virgin Islands

Saturday, Sep 06, 2025

Samsung boss Lee Jae-yong released from jail on parole 'in national interest'

Samsung boss Lee Jae-yong released from jail on parole 'in national interest'

Critics of Lee Jae-yong's release will argue it demonstrates Samsung's extraordinary influence over South Korea's political establishment.

The office of South Korea's president has revealed that the boss of Samsung Electronics, Lee Jae-yong, has been freed early from jail in the "national interest".

Lee, the company's vice chairman but de-facto leader, was released on parole on Friday - a year before the end of a 30-month sentence linked to the bribery of a friend of the nation's former president, Park Geun-hye.

He was also convicted at a retrial in January of embezzlement and concealment of criminal proceeds worth about 8.6 billion won (£5.7m), leaving him sidelined from major decision-making at the company.

Samsung is one of the world's largest makers of smartphones and computer chips - the latter currently at the centre of a global shortage, linked to the COVID-19 crisis, that has hampered production of goods from cars to games consoles.

Samsung is launching the new Samsung Galaxy Z Fold3 and Z Flip


The parole decision was taken by the justice ministry, according to the presidential office.

"(We) accept it as a choice for the national interest and hope for the people's understanding," a spokesperson told reporters.

Lee appeared outside the Seoul Detention Center, wearing a dark grey suit and looking thinner than when he was detained, to tell journalists waiting outside: "I've caused much concern for the people. I deeply apologise.

"I am listening to the concerns, criticisms, worries and high expectations for me. I will work hard."

What he is able to do at Samsung is unclear as it is understood that five years of business restrictions were placed on him as part of his parole terms.

However, the country's justice ministry is widely tipped to clear Lee to return to the office but with conditions remaining in areas such as business travel.

While he has little to do with the day-to-day running of operations at Samsung, the company is said to rely on him for major investment and M&A (merger and acquisition) decisions.

Lee is pictured arriving at court before he was jailed in January


The importance of Samsung to South Korea's economy had seen support for his parole grow amid anxiety that key strategic decisions were not being made to boost the firm's competitiveness.

Samsung, which accounts for almost a fifth of South Korea's stock market value alone, is for example yet to reveal the location for a planned $17bn (£12.3bn) factory in the United States to produce advanced logic chips - lagging similar investments by rivals including Intel.

Critics of Lee's release will argue it demonstrates Samsung's extraordinary influence over South Korea's political establishment.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
×