\nThis comes after five major South Korean business lobby groups officially submitted a petition for Lee\u2019s pardon to Cheong Wa Dae, aka the Blue House \u2013 the official residence of the South Korean President \u2013 last month. They argued that his absence is hurting Samsung\u2019s investment plans.
\nAt a time when the tech industry is facing an unprecedented chip shortage globally, Samsung needs to lead a cumulative effort to tackle this problem. After all, it is the world\u2019s largest memory chip producer and the second-biggest player in the foundry sector, behind Taiwan\u2019s TSMC. Naturally, it is also South Korea\u2019s leading semiconductor company and a driving force in the nation\u2019s economy.
\nHowever, a leadership vacuum means Samsung is finding it hard to come to a decision about its investment plans. The company is looking to invest $17 billion to build a new chip manufacturing plant in the US. It is seeing sites in Texas, Arizona, and New York but is still pending a decision\u00a0on that.
\nThis delay ultimately affects the chip industry as a whole. On top of that, it also allows Samsung\u2019s rivals to edge ahead. As such, South Korean businesses fear that the country may lose its status in the semiconductor industry. They want the President to step in and pardon Lee so he could facilitate Samsung\u2019s investment plans. And it appears President Moon isn\u2019t opposed to the idea.
\nLee Jae-yong could get a presidential pardon
\nAccording to reports coming from Korea, Cheong Wa Dae has received several petitions asking for Lee\u2019s release from jail. Apart from the aforementioned five business lobby groups, officials from other sectors including religious groups and civic activists have also reportedly filed such petitions. President Moon is now reviewing the matter.
\n\u201cThe global competition for semiconductors is intensifying and it is true that we need to enhance competitiveness in the chip industry,\u201d Moon said. However, a pardon \u201cis not something a president can decide easily to suit oneself\u201d. As such, he will take into account people\u2019s opinions before making a decision. \u201cFairness, precedents, and public sentiment must be considered at the same time,\u201d he added.
\nFor the uninitiated, Samsung heir Lee Jae-yong has been in jail since January this year. He is serving a two-and-a-half-year sentence in a 2017 bribery case involving then South Korea president Park Geun-hye who is also serving a jail term.
\nA presidential pardon for Lee could see citizens demand a similar pardon for Park as well. Moreover, Park\u2019s predecessor Lee Myung-bak is also behind bars on a separate corruption charge. So this is a complicated matter. \u201cWe need to make a decision based on justice, fairness, and public consensus,\u201d Moon said.
\nMeanwhile, Moon also knows that semiconductor chips are \u201ccore national strategic industry\u201d for South Korea. He had called a meeting with some of the nation\u2019s biggest firms including Samsung, SK Hynix, and Hyundai Motor last month to discuss the ongoing chip shortage. It now remains to be seen whether he grants Lee a presidential pardon amid this challenge that Samsung and the likes are facing.
\nMoon is reportedly scheduled to join a virtual meeting with US President Joe Mideo on May 21st. We might see him come to a decision before that.
\nThe post Samsung Heir Lee Jae-yong Could Get A Presidential Pardon appeared first on Android Headlines.
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![](\"https:\/\/plus.maciejpiasecki.info\/wp-content\/uploads\/2021\/05\/Lee-Jae-yong-WSJ-image_1-600x391-1.jpg\")
\nSource: ndroidheadlines.com <\/p>\n","protected":false},"excerpt":{"rendered":"