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Samsung heir Lee Jae released from prison on parole

Samsung’s heir Lee Jae has been released from prison on parole.

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Samsung’s heir Lee Jae has been released from prison on parole.

He served 207 days in jail – just over half the sentence he received after being convicted of bribery and embezzlement this year. The case involved the country’s former President Park Guen-Hye, who is also in jail for bribery and corruption.

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.

This appears to be an economic decision by South Korea’s Justice Ministry. Free the Samsung heir and aid the country’s Covid recovery. But it comes at a political cost. The release of Lee will aid the business in the financial aspect.

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