The jailed de facto leader of the giant Samsung group walked free on parole Friday, the latest instance of South Korea's long tradition of freeing business leaders imprisoned for corruption or tax evasion on economic grounds.
Lee Jae-yong, jailed de facto leader of the giant Samsung group, walks out as he is released early on parole at the Seoul Detention Center in Uiwang on August 13, 2021.
The justice ministry announced Monday he had been paroled — among around 800 early releases — citing concerns over the coronavirus pandemic’s impact on the economy. Song Won-keun, an economics professor at Gyeongsang National University, told AFP: “This is undeniably preferential treatment, especially given that a separate trial is still going on.”
But a rule change recently came into effect cutting the proportion of their sentences prisoners must serve before being eligible for parole to 60 percent — a mark Lee passed a few weeks ago. Chaebol families often have only a small ownership stake in their empires, but maintain control through complex webs of cross-shareholdings between units.
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