Convicted Samsung heir gets Presidential pardon in South Korea

Samsung heir and Vice Chairman, Lee Jae-yong was given a presidential pardon paving the way from him to rejoin the South Koreas conglomerate after being convicted of bribing the nation's president 6 years ago. The pardon of Lee underscores Samsung's huge influence over a country that relies on its technology exports.

What was he convicted for?

One of South Korea's most powerful white-collar criminals, Lee was convicted of bribing then-President Park Geun-hye and her close confidante, who both were sentenced to lengthier prison terms, to win government support for a 2015 merger between two Samsung affiliates that tightened Lee's control over the corporate empire.. Lee spent 18 months in prison before his release on parole a year ago

Why the pardon?

54-year-old Lee has been granted a special pardon effective as of Aug. 15, the country’s independence anniversary.
South Korea's Justice Ministry said the business leader was needed to help overcome a "national economic crisis". “In a bid to overcome the economic crisis by vitalizing the economy, Samsung Electronics Vice Chairman Lee Jae-Yong, whose suspended prison term was ended recently, will be reinstated,” the Korean government said in a joint statement from its ministries.

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What next?

Lee also dubbed the "Crown Price of Samsung" is free to join back the board of still faces a separate trial on charges of stock price manipulation and auditing violations related to the 2015 merger.