Business Community "Please Show Leniency to Lee Jae-yong"... Successive Petitions Submitted

Samsung Electronics Vice Chairman Lee Jae-yong is entering the Seoul High Court in Seocho-dong on the 9th, where the retrial for the 'state affairs manipulation' case is being held. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Dongwoo Lee] As the retrial verdict for Samsung Electronics Vice Chairman Lee Jae-yong regarding the state corruption scandal approaches, opinions urging leniency toward Vice Chairman Lee are continuing, mainly among major economic organizations.

On the 17th, according to the business community, Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, announced that he requested the Seoul High Court to show leniency toward Vice Chairman Lee.

Chairman Kim said, "While the wrongful aspects of the state corruption case must be corrected, we need to consider the role and weight Samsung holds in our economy," adding, "Vice Chairman Lee should be given sufficient opportunity to exercise ownership so that he can lead the recovery from the COVID-19 crisis and play a leading role in our country's economic ecosystem."

Chairman Kim also urged Samsung, saying, "As a representative company of the Republic of Korea, Samsung must restructure its governance to prevent owner-related risks and do its best for the development of the Korean economy through social responsibility and active investment to overcome the COVID-19 crisis."

Earlier, Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry, submitted a petition to the court on the 15th asking for leniency toward Vice Chairman Lee.

Chairman Park stated, "Having observed Vice Chairman Lee over time and considering the weight Samsung carries in society, I hope that he will be given a chance."

Ahn Geon-jun, Chairman of the Korea Venture Business Association, submitted a petition urging leniency for Vice Chairman Lee on the 13th, saying, "The only solution to complete a truly symbiotic ecosystem is the firm determination of large business owners to eradicate wrongdoing and a sincere attitude in practice," emphasizing, "To create a Korean-style innovative venture ecosystem, Vice Chairman Lee's firm will and swift decision are essential."

The Seoul High Court Criminal Division 1 will deliver the retrial verdict for Vice Chairman Lee on the 18th. Vice Chairman Lee was indicted in February 2017 on charges of bribery, including requests for assistance in succession of management rights to former President Park Geun-hye and Choi Seo-won (formerly Choi Soon-sil).

Vice Chairman Lee was sentenced to five years in prison in the first trial and to two years and six months in prison with a four-year suspended sentence in the appellate trial. Samsung has not issued any separate statement as of this day.