Samsung heir receives a presidential pardon in an attempt to ‘get through the economic crisis’ TechCrunch

Samsung Electronics Vice President Jay Y.

Lee was pardoned last year after serving 18 months in prison for bribing former South Korean president Park Geun-hye. The amnesty bans Lee from working for five years and restricts foreign travel. The pardon will remove the 54-year-old operator’s conviction from his 2017 sentence.

The special amnesty will facilitate the de facto leader of Samsung, the grandson of the Samsung founder, to officially join the management, restoring his right to work at the giant technology company. His appearance is expected to help Samsung speed up the decision-making process on major strategies from chip production to investment plans.

The amnesty comes as the semiconductor industry faces challenges such as supply shortages due to the coronavirus pandemic, inflation and logistical difficulties.

A South Korean government official said the special amnesty for business leaders who are considering their role in leading national growth through technology investment and job creation, will help overcome the national economic crisis.

TechCrunch has reached out to Samsung for further comment.

This is an evolving story. More to follow…