Jeong Manki, Vice Chairman of Muhyeop, "Enterprises pardoned on Liberation Day actively participate in economic recovery"

Comment on the 14th... "Efforts to Accelerate the Recovery of Martial Arts Exports"

Jung Manki, Vice Chairman of the Korea International Trade Association, issued a statement on the 14th expressing that businesspeople who are the subjects of the government's special pardon for Liberation Day will contribute to the recovery of the economy and exports.

Vice Chairman Jung said, "The trade industry welcomes the inclusion of many businesspeople in the government's August 15 Liberation Day special pardon," and added, "The KITA believes that the businesspeople returning to the management field through the pardon will actively participate in revitalizing our economy by utilizing the knowledge and experience they have accumulated in the past."

He stated, "I believe this special pardon was made in the hope that businesspeople will actively contribute to the recovery and revitalization of our economy amid difficult external conditions such as the global economic downturn caused by high interest rates, the Russia-Ukraine war, and the US-China conflict."

Prime Minister Han Duck-soo. [Photo by Yonhap News]

He also suggested the need to ease regulations on the punishment of businesspeople during this opportunity.

Vice Chairman Jung said, "The industry proposes a comprehensive review of various laws focusing on criminal punishment of businesspeople to align with global standards, taking this special pardon as an opportunity," and added, "Frequent criminal punishments stemming from our unique system prevent the continuous utilization of businesspeople's experience and knowledge in frontline management, which could ultimately have a negative impact on national interests."

He continued, "The industry will make greater efforts in compliance and responsible management, and concentrate businesspeople's capabilities to accelerate the recovery of our exports, taking this special pardon as a turning point."

Businesspeople such as Lee Joong-geun, founder of Booyoung Group; Park Chan-gu, honorary chairman of Kumho Petrochemical Group; Lee Ho-jin, former chairman of Taekwang Group; and Lee Jang-han, chairman of Chong Kun Dang, are mentioned as candidates for pardon and reinstatement.

Founder Lee Joong-geun was sentenced to 2 years and 6 months in prison for embezzlement and breach of trust involving hundreds of millions of won, but was granted parole ahead of Liberation Day in 2021. Honorary Chairman Park Chan-gu was indicted on charges of breach of trust exceeding 13 billion won. The Supreme Court confirmed a sentence of 3 years in prison with a 5-year probation at the end of 2018. Former Chairman Lee Ho-jin was sentenced to 3 years in prison for embezzlement, breach of trust, and corporate tax evasion, and was released after serving his term. Chairman Lee Jang-han was sentenced to prison over a controversy involving 'driver abuse.'

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