A luncheon meeting was held between President Moon Jae-in and representatives of the South-Korea’s top conglomerates.
While the session was arranged mainly to discuss the results of the recent Seoul-Washington summit, a potential pardon for the de-facto chief of Samsung was also brought up.
South Korea’s four major conglomerates have asked President Moon Jae-in to considering a giving a pardon to the de facto leader of Samsung Group, Lee Jae-yong, who’s behind bars for bribery and embezzlement.
The request was made by the representatives of Samsung, Hyundai, SK and LG, who attended a luncheon meeting on Wednesday at the Blue House.
The top office said the business leaders asked the president to review a proposal made recently by five major business lobby groups that is, to pardon Lee ahead of Liberation Day on August 15th.
Traditionally, presidents have granted special pardons on the anniversary to promote national unity.
The leaders apparently said that the Samsung chief needs to be present to make swift decisions regarding massive investment projects while others stressed that the next couple of years will be crucial given the uncertainties ahead.
“President Moon listened to the requests regarding a pardon for Lee Jae-yong, and said he understands their difficulty.”
Moon was also quoted as saying that the current economic situation is in fact different from before and that he is aware that companies are being requested to take on bold roles.
The president had previously said he will consider people’s opinions and make a decision.
The business leaders were at the Blue House mainly for discussions on the outcome of Moon’s visit to the U.S. last month.
The president credited them for the fruitful outcomes.
The four groups announced investments in the U.S. worth over 39 billion dollars a move intended to help build supply chain resilience.
“It is very meaningful for relations to have been developing comprehensively like this by expanding cooperation in semiconductors, batteries, electric vehicles, and advanced technology and products.”
The leaders pledged continued efforts to build an active economic partnership between Seoul and Washington.
Moon brushed off concerns that major investment in the U.S. could hinder job creation at home.
“Small and medium-sized companies can follow in the footsteps of large conglomerates, and because the exports of parts, materials and equipment will grow significantly, it will create more jobs and opportunities domestically.”
This was Moon’s first meeting with representantives from the four groups at the Blue House since he took office in 2017.
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