The heir and de facto leader of Samsung group had received a presidential pardon Friday, the newest example of South Korea's long tradition of liberating business leaders who were guilty of corruption on economic grounds.

HIGHLIGHTS
Samsung group had received a presidential pardon Friday
Lee Jae-yong given a chance to 'contribute to overcome the economic crisis'
Lee has been considered as the 278th-richest person in the world

Justice Minister Han Dong-hoon has claimed that the billionaire Lee Jae-yong, who was guilty of bribery and embezzelement in January last year, was going to be 'reinstated' to relinquish him an opportunity to 'contribute to overcoming the economic crisis' of the country.

Lee has been considered as the 278th-richest person in the world, with a net value of $7.9 billion who was free on parole in August 2021, after serving 18 months in jail, simply over half of his original sentence.

Friday's pardon would permit him to completely return to work by lifting a post-prison employment restriction that was eventually set for 5 years.

As per the statement of Justice Ministry, 'Due to the world economic crisis, the dynamism and vitality of the national economy have deteriorated, and also the economic slump has been feared to be prolonged.' 

The pardon was given so that Lee along with other high-level executives would receive pardons Friday which would 'lead the country's non-stop growth engine through active investment in technology and job creation,' the ministry had added. 

Lee, 54, was pardoned with three different businessmen, as well as Lotte Group Chairman Shin Dong-bin, who was sentenced to a suspended two-and-half-year prison term within a bribery case in 2018.

The Ministry ahead of the annual Liberation Day anniversary on Monday has mentioned that a total of 1,693 people which would include prisoners with terminal illnesses and people close to the end of their terms who were added on the pardon list. 

The day of anniversary marks Japan's 1945 World War II surrender, that had liberated South Korea from decades of colonial rule and was often celebrated every year with the pardon of many prisoners.

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