Samsung’s Lee Jae-yong’s release from jail may see new jobs and more investment
Seoul — Samsung Group heir Lee Jae-yong’s release from jail on bribery charges has some in South Korea hoping for new investments and jobs from the massive conglomerate, despite ongoing concerns over the cosy ties between government and business leaders. Dubbed the "Republic of Samsung", the company’s businesses reach deep into many parts of South Koreans’ lives, and are intertwined with thousands of small- and medium-sized sub-contractors and start-ups. After a year in detention, the heir to South Korea’s largest business empire walked free on Monday as an appeals court suspended his jail term for bribery in a corruption scandal that toppled the former president last year. Many South Koreans in the business community welcomed Lee’s release and anticipated the national economy would feel positive effects from his comeback, including new investment in local industries and more domestic jobs. This could help ease a backlash from other South Koreans upset over the cosy ties between pol...
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