Samsung heir receives presidential pardon in a bid to ‘overcome economic crisis’

The heir to the company will be given a presidential pardon on Monday, paving the way for him to regain control of the company.

Lee was released from prison last year after serving 18 months for paying a bribe to Park Geun-hye. Lee was banned from being employed for five years and from travelling outside of the US. The 54-year-old executive will no longer have a criminal record after being pardoned.

The pardon will allow the grandson of the founder of the company to officially participate in management at the giant tech company. His arrival is expected to speed up decision-making on major strategies for the company.

The pardon comes at a time when the industry is facing challenges like supply shortages from the coronaviruses epidemic.

The special pardons to business leaders that are in consideration of their roles in leading national growth through technology investment and job creation will help overcome the national economic crisis.

The tech site reached out to the company for more information.

The story is evolving. There will be more to follow.

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