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S. Korean gov't decides to grant special pardon to ex-Samsung chief
Source: Agencies |
December 29, 2009, Tuesday
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THE South Korean government will grant a special pardon to former Samsung chief Lee Kun-hee, who had been found guilty on illegal securities transactions, the justice minister said today.
The government, at a cabinet meeting in the morning, decided to grant Lee with the pardon, which will take effect on December 31.
"We have taken into account voices of various groups in the society, while we prioritized national interests," said Justice Minister Lee Kwi-nam in a news conference.
Meanwhile, South Korean President Lee Myung-bak also said he has reached the decision after contemplating the issue for a long time, according to presidential spokesperson Kim Eun-hye.
The move came after business and sports circles have repeatedly demanded Lee's pardon for the need to boost economic revitalization and, mostly, for Pyeong Chang's ongoing bid for the 2018 Winter Olympics.
Lee had sat as an IOC member before he gave up his rights in 2008 due to his conviction related to tax evasion scandals.
"(Lee and Samsung) will now have to devote themselves to PyeongChang's bid, as well as to put every effort to upgrade the nation's competitiveness amid an economic crisis," President Lee was quoted as saying.
Samsung, releasing an unofficial statement, expressed gratitude to the government and the South Korean people, saying it would do its best to win the 2018 Winter Olympics.
South Korea's business circle also welcomed the report, expressing hopes that the pardon will lead to Samsung and Lee's greater contribution to revitalizing the South Korean economy.
In mid-August, Lee Kun-hee was sentenced to a three-year suspended prison term and a fine of 110 billion won (US$94 million) after he was first indicted last year for resulting in a loss of 154 billion won in Samsung SDS.
While a local court and an appellate later rejected the charges, the nation's Supreme Court returned the case back to an appellate court, which led into a guilty verdict for Lee.
The 67-year-old Lee had served as Samsung chairman for 20 years and stepped down from the group's top management post in April 2008.
The government, at a cabinet meeting in the morning, decided to grant Lee with the pardon, which will take effect on December 31.
"We have taken into account voices of various groups in the society, while we prioritized national interests," said Justice Minister Lee Kwi-nam in a news conference.
Meanwhile, South Korean President Lee Myung-bak also said he has reached the decision after contemplating the issue for a long time, according to presidential spokesperson Kim Eun-hye.
The move came after business and sports circles have repeatedly demanded Lee's pardon for the need to boost economic revitalization and, mostly, for Pyeong Chang's ongoing bid for the 2018 Winter Olympics.
Lee had sat as an IOC member before he gave up his rights in 2008 due to his conviction related to tax evasion scandals.
"(Lee and Samsung) will now have to devote themselves to PyeongChang's bid, as well as to put every effort to upgrade the nation's competitiveness amid an economic crisis," President Lee was quoted as saying.
Samsung, releasing an unofficial statement, expressed gratitude to the government and the South Korean people, saying it would do its best to win the 2018 Winter Olympics.
South Korea's business circle also welcomed the report, expressing hopes that the pardon will lead to Samsung and Lee's greater contribution to revitalizing the South Korean economy.
In mid-August, Lee Kun-hee was sentenced to a three-year suspended prison term and a fine of 110 billion won (US$94 million) after he was first indicted last year for resulting in a loss of 154 billion won in Samsung SDS.
While a local court and an appellate later rejected the charges, the nation's Supreme Court returned the case back to an appellate court, which led into a guilty verdict for Lee.
The 67-year-old Lee had served as Samsung chairman for 20 years and stepped down from the group's top management post in April 2008.
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