Park Beom-gye "Lee Jae-yong's Management Participation Within Employment Restriction Scope"

Samsung Electronics Vice Chairman Lee Jae-yong, who was released on parole after 207 days of re-imprisonment, is leaving Seoul Detention Center in Uiwang, Gyeonggi Province on the 13th. Photo by Kang Jin-hyung, Uiwang aymsdream@

[Asia Economy Reporter Seongpil Cho] Park Beom-gye, Minister of Justice, stated on the 18th that regarding Lee Jae-yong, Vice Chairman of Samsung Electronics, who was released on parole, "Participating in management in an unpaid, non-executive capacity falls within the scope of employment restrictions."

Minister Park made this remark to reporters on his way back to the Ministry of Justice Gwacheon office after an external schedule, saying, "The three conditions that Lee currently meets?unpaid, non-executive, and non-registered director?are the most important factors in determining employment status." This implies that as long as Lee maintains his current status, his participation in management does not violate employment restrictions. However, Minister Park reiterated his previous stance that there has been "no consideration" of lifting Lee’s employment restrictions.

Earlier, Lee was sentenced to 2 years and 6 months imprisonment in the retrial of the National Pension Service scandal on January 18 and was re-incarcerated. However, he was included in the parole list for Liberation Day this month and was released on the 13th after serving 207 days. It was reported that immediately after his release, he went to the Samsung Electronics Seocho office to receive reports on management issues and then returned home.

According to relevant laws, Lee is subject to probation during the parole period and employment restrictions simultaneously. Under the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (Special Act), if a person commits embezzlement or breach of trust involving 500 million won or more, employment is restricted for five years from the date the prison sentence is completed or the execution is decided not to be enforced. However, employment restrictions can be lifted if the Ministry of Justice grants separate employment approval after review by the Specific Economic Crime Management Committee or if a pardon and reinstatement occur during the period.

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