President Yoon's First Special Pardon Focuses on 'Reviving the Economy'... Hopes for a Rebound in Approval Ratings

Former President Lee Myung-bak and Former Governor Kim Kyung-soo Excluded from Politicians... Presidential Office "Commitment to Restoring People's Livelihoods"

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] The Yoon Seok-yeol administration has carried out a special pardon on the occasion of Liberation Day for 1,693 people, including economic figures such as Samsung Electronics Vice Chairman Lee Jae-yong and Lotte Group Chairman Shin Dong-bin, as well as low-income livelihood-related criminal offenders. This is the first special pardon since President Yoon took office, with an emphasis on 'reviving the economy.'

All politicians were excluded. Politicians such as former President Lee Myung-bak and former Gyeongnam Governor Kim Kyung-soo were all excluded from the pardon list. This is interpreted as sending a message of 'reviving the economy' amid the triple hardships of high inflation, high interest rates, and high exchange rates, which have made the livelihood economy difficult, and using it as a turning point to recover approval ratings.

Before the temporary Cabinet meeting convened to review and decide the final pardon candidates, President Yoon told reporters that "the pardon focused on livelihood and economic recovery." At the Cabinet meeting, President Yoon stated, "Through this pardon, we aim to stabilize livelihoods and provide opportunities and hope for the recovery of small and medium-sized enterprises, small business owners, the common people, and the vulnerable in our society," adding, "The pardon targets and scope were carefully decided by broadly collecting opinions from various sectors to overcome the difficult economy."

The intention of President Yoon is also clearly reflected in the announcement by Minister of Justice Han Dong-hoon. Minister Han emphasized that the pardon candidates were selected "considering that the majority of the people have been experiencing economic difficulties due to the aftermath of COVID-19, economic recession, and rising prices," and that the pardon of major economic figures was intended to maximize the effect of overcoming the economic crisis.

Inside the Presidential Office, the special pardon candidates are also evaluated as "reflecting the will to revive the economy and restore livelihoods." As President Yoon continues to show his determination to revive the economy to the business community, there is an expectation that companies will respond by creating jobs through investment. Moreover, in the case of Vice Chairman Lee, his role is significant in smoothly advancing the new government's national agenda. To secure Korea's competitiveness in the semiconductor industry, which has emerged as a core area in the US-China hegemony competition, large-scale investment and research by Samsung Electronics are necessary.

The Presidential Office is expected to aim for a rebound in approval ratings through events such as the special pardon, Liberation Day, and the 100th day since inauguration. According to a regular public opinion poll released by Gallup on the 12th (conducted from the 9th to the 11th via telephone interviews with 1,000 people nationwide aged 18 and over), 25% of respondents said President Yoon is performing well in his duties, while 66% said he is performing poorly. Compared to last week's survey, the positive opinion rose by 1 percentage point, while the negative opinion remained the same. Although not a significant change, the halt in the decline is meaningful, and it is likely that the administration will focus on delivering messages about state affairs.

The decision to hold an unplanned 100-day press conference for President Yoon is in the same context. Marking the 100th day since inauguration on the 17th, President Yoon will hold his first official press conference, where he will share reflections on his tenure so far and future plans for state administration. President Yoon said, "I hope this special pardon will be an opportunity for all citizens to unite and overcome the economic crisis," and emphasized, "The government will also prioritize strong support for the vulnerable in our society by tightening public sector spending and restructuring expenditure, using the fiscal capacity created through these measures to overcome the economic crisis."

This content was produced with the assistance of AI translation services.