[Independence Day Pardon] Lee Jae-yong "I will work hard for the national economy" (Comprehensive)

Vice Chairman Lee Jae-yong of Samsung Electronics, who was reinstated through the special pardon on August 15 Liberation Day, is greeting before making a statement at the Seoul Central District Court in Seocho-gu, Seoul on the 12th. Photo by Kang Jin-hyung aymsdream@

I will work hard for the national economy. Thank you very much.

This is the statement of Lee Jae-yong, Vice Chairman of Samsung Electronics, who was sentenced to prison in the Park Geun-hye administration's 'state affairs manipulation' case but was reinstated on the 12th through the '8.15 Liberation Day Special Pardon.'

At around noon that day, Vice Chairman Lee left the Seoul Central District Court in Seocho-gu, Seoul, after the morning trial regarding allegations of 'unfair merger and accounting fraud,' and bowed in response to reporters' questions about his feelings on being included in the special pardon.

He refrained from answering other questions such as 'What is your determination for the remaining (unfair merger and accounting fraud) trial?' and 'Do you have any words for the citizens and company employees?' as he got into his vehicle.

Earlier, Vice Chairman Lee arrived at the courthouse in Seocho-gu, Seoul, at around 9:25 a.m. for the trial on allegations of 'unfair merger and accounting fraud,' which was held from 10 a.m. under the Criminal Division 25-2 of the Seoul Central District Court (Presiding Judge Lee Jun-cheol). At that time, he did not make any statements and went straight into the courtroom.

The government announced at 11:10 a.m. that day, while the trial was ongoing, that Lee would be reinstated in relation to the state affairs manipulation case on the occasion of August 15 Liberation Day.

Previously, Lee was sentenced to 2 years and 6 months in prison for the state affairs manipulation case and was paroled in August last year. His sentence ended on the 29th of last month.

However, due to the five-year employment restriction regulation, it was difficult for him to engage in normal management activities, and there were strong calls from the business community for his pardon. This special pardon is significant in that Lee is now free from the employment restriction regulation that was supposed to apply until 2027, allowing him to conduct normal management activities.

The allegations of unfair merger and accounting fraud were indicted separately from the state affairs manipulation case related to Lee's reinstatement on that day, with the indictment filed in September 2020. He is accused of directing unfair acts such as artificially inflating the stock price of Cheil Industries and lowering the stock price of Samsung C&T during the merger process of Samsung C&T and Cheil Industries.