On Friday, Samsung Electronics Vice Chairman Jay Y. Lee received a presidential pardon for his involvement in a 2016 political scandal.
"In a bid to overcome the economic crisis by vitalizing the economy, Samsung Electronics Vice Chairman Lee Jae-yong… will be reinstated."
- The Korean Government
In February 2017, Lee, 54, was arrested for paying millions in bribes to groups tied to a presidential advisor in order to gain approval for an $8 billion merger of two Samsung Group units.
In August 2017, Lee was found guilty of perjury, embezzlement, hiding assets abroad, and being one of five Samsung executives who paid $6.4 million in bribes to former South Korean President, Park Geun-hye.
In February 2018, at an appeal hearing, Lee's sentence was reduced by half, after bribery and embezzlement charges were "suspended," allowing him to leave prison after six months.
In early 2021, following Lee's appeals, a second trial was held, which sentenced him to 30 months.
In August 2021, Lee was granted parole after serving 18 of 30 months, and now these charges have been dropped.
