South Korea President To Pardon Samsung's Jay Y Lee To Drive The Economy: Report

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  • South Korea’s presidential office agreed to pardon Samsung Electronics Co, Ltd (OTC: SSNLF) de facto leader, Lee Jae-yong, also known as Jay Y. Lee, on August 15 to propel the nation’s economy, the Wall Street Journal reports. 
  • It marks a landmark move by President Yoon Suk-yeol, who assumed office in May.
  • The country decided to relieve Lee of his criminal record from his 2017 conviction. The government imprisoned him twice for bribing South Korea’s former President. 
  • But the grandson of Samsung’s founder could still go behind bars …

Full story available on Benzinga.com

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