Samsung Vice Chairman Lee Jae-yong Included in 'Special Pardon for Key Business Figures'... Gyeongbuk Governor Lee Cheol-woo Expects Large-scale Investment

Reveals Special Pardon Stance via Personal SNS

Anticipates Large-Scale Investment for Local Era

August 15 Liberation Day Special Pardon for Lee Jae-yong, Vice Chairman of Samsung Electronics.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gui-yeol] On the 12th, the government announced, "To overcome the economic crisis and promote social integration, a special pardon will be granted to 1,693 people on Liberation Day, including small and medium-sized business owners, small merchants involved in livelihood-related criminal cases, major economic figures, labor-management officials, and specially considered prisoners."

Regarding the pardons of Lee Jae-yong, Vice Chairman of Samsung Electronics, and Shin Dong-bin, Chairman of Lotte Group, the government stated, "Considering the urgent need to overcome the current nationwide economic crisis, they are major economic figures leading the nation's growth engine through active technology investment and job creation," explaining the reason for the pardon.

In response, Lee Cheol-woo, Governor of Gyeongsangbuk-do, expressed his welcome on his personal SNS on the 12th, saying, "Lee Jae-yong, Vice Chairman of Samsung Electronics, Shin Dong-bin, Chairman of Lotte Group, Jang Se-ju, Chairman of Dongkuk Steel, and Kang Deok-soo, former Chairman of STX Group, have been pardoned and reinstated. I hope they will contribute greatly to overcoming the stagnant economic crisis."

He also mentioned, "There were times in the past when large-scale investments were active in the region due to pardons of economic figures such as SK Group, CJ Group, and Hyundai Motor. In 2015, the Chairman of SK Group was pardoned in the August 15 special pardon and returned to management, announcing a 46 trillion won investment in domestic semiconductor factory construction, which resulted in about 183 trillion won in production inducement effects and about 670,000 jobs created. After the CJ Group Chairman was pardoned in 2016 and the Honorary Chairman of Hyundai Motor in 2008, there were also cases of multi-trillion won investments."

He concluded, "About a month ago, I met Vice Chairman Lee Jae-yong at the Seoul Asia Leadership Conference event. I told Samsung to return to their hometown, Gumi, and there was a positive signal. I look forward to large-scale investments to open the era of local development."

Governor Lee Cheol-woo led a large-scale trade delegation to explore new markets to replace Russia, visiting Mongolia and Uzbekistan from the 7th for a 5-night, 7-day schedule.

On the 12th, the day he concluded his overseas schedule, he received the government's special pardon announcement in Uzbekistan and left this message.

Regarding the parole decision of Lee Jae-yong, Vice Chairman of Samsung Electronics, on August 9 last year, he also expressed his welcome, saying, "I believe it will be an opportunity to create a rebound for the Korean economy amid fierce competition in the global market."

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