The Prime Minister of South Korea supports the release of Samsung CEO Lee Jae-yong to resume work as soon as possible

[ad_1]

Lee Jae-yong updates

South Korea’s prime minister supports Samsung’s leader Lee Jae-yong’s call to return to managing the global technology conglomerate a few weeks after his release, even though the law prohibits convicted tycoons from returning to work within five years.

The billionaire head of the founder’s Lee family controls the world’s largest manufacturers of computer chips, smartphones and electronic displays. Released on parole After being sentenced to two and a half years in prison and 19 months in prison for bribing former President Park Geun-hye.

South Korean Prime Minister Kim Boo Kyun told the Financial Times that the public believes that Lee Kuan Yew’s leadership needs to lead South Korea’s largest and most important company through difficulties. Increasing global competition And the economic challenges brought about by the global pandemic.

“If necessary, we should follow legal procedures [for his return to management] But banning his activities when he has been released is not an appropriate option [from jail]”Jin said, this is the highest level of endorsement Li has received.

The prime minister warned against adopting a “narrow” approach to Lee’s situation, despite admitting that “criticizing the head of an economically influential company prematurely exempted him from legal responsibility”.

South Korea’s most famous businessman returns immediately The helm of his family empire It is highly divided in the local area and is regarded by many critics as an important test of the rule of law in South Korea.

Korean business groups have Urge the government Relax Li’s parole conditions, including restrictions on overseas travel.

Lee’s supporters claim that under South Korea’s hierarchical business culture, the company cannot promote large-scale long-term investments without the presence of leaders.

However, critics have criticized Li’s release from prison early.They argued that President Moon Jae-in’s government violated the corporate group that controlled the Korean family (known as Chaebol, Heel and Termination of preferential treatment For the most powerful business elite in the country.

This month, civil organizations and labor unions held a rally against Li’s parole, saying that the slogan “too big to be jailed” still applies to the tycoon.

Kim, who leads the cabinet and supervises the administration of the government, defended South Korea’s legal system, citing the public’s closer scrutiny of South Korea’s business practices. Chaebol And pointed out the challenges faced by both Samsung and South Korea’s economy.

“The Korean public has high standards for the role played Chaebol now. .. But there is also public opinion that it is unfair to deprive Li of business opportunities,” he said.

He added: “The excessive privileges of the second, third and fourth generation tycoons are disappearing. Although it will take time, Chaebol Reforms aimed at increasing transparency and accountability are still in progress. “

According to a report in the British Financial Times in May, American companies also lobbied the president to release Lee from prison.

Samsung said last week that it will spend more than US$200 billion in the next three years to build new factories and invest heavily in research and development. Although almost all expenditures have been announced before, the company also stated that its investment will create approximately 10,000 new jobs.

[ad_2]

Source link