SEOUL, Aug 9 — The jailed de facto leader of the giant Samsung group will be released early on parole this week, South Korea’s justice ministry said today, easing concerns over a possible leadership vacuum at the conglomerate. Lee Jae-yong — the 188th richest person in the world according to...
SEOUL, Aug 9 — The jailed de facto leader of the giant Samsung group will be released early on parole this week, South Korea’s justice ministry said today, easing concerns over a possible leadership vacuum at the conglomerate.
His freedom will ease concerns over decision-making at Samsung, by far the biggest of the family-controlled conglomerates, or chaebols, that dominate business in the country. South Korea traditionally issues pardons around this time of the year as it celebrates Independence Day on August 15, and the justice ministry said this year 810 people had been approved for release on parole.
Local reports said he was a “model prisoner” and this month a rule change came into effect cutting the proportion of the sentences prisoners must serve to be eligible for parole.He was first jailed for five years in 2017, after Park’s ouster, then walked free the following year when an appeals court dismissed most of his bribery convictions and gave him a suspended sentence.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Samsung leader Jay Y. Lee qualifies for parole -Justice MinistrySEOUL (Reuters) - Samsung Electronics Vice Chairman Jay Y. Lee, in jail after convictions for bribery and embezzlement, has qualified for parole, South Korea's Justice Minister said Monday.
Read more »
Ex-Fifa boss Blatter arrives for payment probe hearing | Malay MailZURICH, Aug 9 ― Sepp Blatter, the former world football chief, arrived today for final hearings with a Swiss prosecutor in a fraud probe surrounding a 2011 Fifa payment to Michel Platini. Former Fifa president Blatter, 85, is being investigated over a two million Swiss franc (RM9.2 million)...
Read more »
Ringgit ends lower against US dollar | Malay MailKUALA LUMPUR, Aug 9 — The ringgit closed lower against the US dollar on Monday as the high number of daily Covid-19 cases continued to weigh on sentiment, a dealer said. At 6pm, the local note stood at 4.2270/2300 versus the greenback compared with 4.2180/2205 at the close last Friday. The dealer...
Read more »
Sterling slips as currency markets weigh up tapering timelines | Malay MailLONDON, Aug 9 — The pound slipped slightly in early trading today, but was still close to its strongest versus the euro since February 2020, as investors focused on the possible pace of monetary policy tightening after the Bank of England meeting last week. In recent weeks, sterling has...
Read more »
Hong Kong stocks start week with gains | Malay MailHONG KONG, Aug 9 — Hong Kong stocks closed with gains today following a strong US jobs report though the data stoked concerns that the Federal Reserve will have to tighten monetary policy sooner rather than later to prevent the economy from overheating. The Hang Seng Index closed 0.40 per cent,...
Read more »
UK: UN climate report ‘stark warning’ about human activity | Malay MailLONDON, August 9 — Britain today called for urgent global action to tackle climate change, after a UN report warned the planet has warmed more than previously estimated. The hosts of the upcoming COP26 summit said conclusions that the 1.5C temperature goal would likely be breached around 2030 was...
Read more »