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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, August 11 — The South Korean government has included 16 prominent business leaders in its Liberation Day special pardon list, citing the need to boost job creation and economic growth amid global economic uncertainty.
Justice Minister Chung Sung-ho said the decision “aims to provide an opportunity for dynamic growth by pardoning major business figures who can contribute to the national economy.”
Among those pardoned is Choi Shin-won, former chairman of SK Networks and second son of SK Group founder Choi Jong-gun. Choi was serving a 2½-year prison sentence confirmed by the Supreme Court in May for embezzlement and breach of trust totaling KRW 223.5 billion from SK affiliates, including SK Networks, SKC, and SK Telesys, to fund a private golf course project and pay false salaries to family members. He had been in custody since January but will now be released and have his civil rights restored.
The list also includes the restoration of rights (rehabilitation) for former Samsung Electronics Future Strategy Office executives Choi Ji-sung and Chang Choong-ki, both convicted in 2021 for bribing former President Park Geun-hye and Choi Seo-won (formerly Choi Soon-sil) in connection with the Samsung leadership succession scandal.
They were paroled in March 2022 but had not yet been granted rehabilitation. Former Samsung Electronics executives Park Sang-jin and Hwang Sung-soo, both previously involved in external affairs, will also have their rights restored.
Hyun Jae-hyun, former chairman of Tongyang Group and central figure in the 2013 “Tongyang Group scandal,” is also on the list. Hyun served a seven-year prison term for concealing the group’s insolvency while issuing KRW 1.3 trillion in commercial paper and bonds, causing significant investor losses. He was released in 2021.
Other recipients include Park In-gyu, former CEO of Daegu Bank, who was convicted in a recruitment corruption case.
In total, aside from the 16 business leaders, the pardon list includes 27 former public officials and politicians, 10 special-category inmates, and 1,922 general criminal offenders.
Additionally, 834,499 individuals subject to administrative penalties in sectors such as passenger and cargo transport, small-scale fisheries, and driver’s license suspensions will receive special relief. The Ministry of Justice will also grant parole to 1,014 model inmates on August 14.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
