But the economic crisis caused by the corona pandemic also played a role in the decision of the Ministry of Justice to release him on probation. Samsung is hugely important to South Korean exports and is a global player in the production of computer chips, which are in high demand.
Lee Jae-yong, the grandson of Samsung founder, has been the de facto CEO of the company since 2014, following his father’s death in October. He has a fortune of almost 10 billion euros.
On leaving the prison, he expressed his regret for his crimes. “I’ve caused too much trouble for people. I’m really sorry. I’m listening to the concerns, the criticism and the high expectations for me. I will work hard.”
Due to his conviction, Lee Jae-yong will in principle only be allowed to return to his job in 5 years, but it is expected that the Ministry of Justice will grant him an exception. He must also get government approval to travel abroad.
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