Park Yong-jin: "Lee Jae-yong's Prison Sentence Marks the First Step Toward Chaebol Reform"

Equality Before the Law: Realizing Common Sense and Fairness

[Image source=Yonhap News]

[Asia Economy Reporter Lee Hyun-joo] Park Yong-jin, a member of the Democratic Party of Korea, stated regarding the trial result in which Samsung Electronics Vice Chairman Lee Jae-yong was sentenced to 2 years and 6 months in prison and taken into custody in court, "It is the realization of common sense and fairness that equality before the law has been achieved."

On the morning of the 19th, Park appeared on MBC Radio's 'Kim Jong-bae's Focus' and said, "The head of Samsung has been the most powerful person for generations throughout his life," adding, "But even that person must serve a prison sentence because of this ruling. Equality before the law and the end of collusion between politics and business will no longer be important methods in managing large corporations. I think this marks the starting point for our society to upgrade to the next level."

He added, "Honestly, the court has endured all kinds of criticism to issue a suspended sentence until now, but it judged that it could not proceed in the direction it had prepared because it was beyond common sense."

Regarding the criticism that the 2 years and 6 months sentence was too light, he said, "I am dissatisfied," but also responded, "What would have happened if a suspended sentence had been given? I think the court did not surpass the common sense of our society's standards of privilege." On the possibility of parole, he said, "Since the approval of the Minister of Justice and the President is required, it is not an easy matter to decide," and added, "I want to point out that the growth of the people's capability and the strength of our society have reached this level to produce such a result." On the possibility of a retrial, he emphasized, "It is meaningless to try. Lawyers know better that it will rather have a negative impact as the trial on the illegal merger of Samsung C&T and Cheil Industries is just beginning."

He argued that the 'Compliance Committee' established by Samsung is no longer sustainable. He said, "It is an organization created to consider the sentence at the court's request, and it is an organization that the head of the company can dissolve overnight if he wishes."

Regarding this ruling, Park said, "I said it is a victory of the people's common sense," and added, "Chaebol reform and economic democratization are done through laws, systems, and institutions, not by calling someone to scold them, so this is a meaningful first step."