Two thirds of Koreans
in favor of granting
Lee parole: poll
By Baek Byung-yeul
Voices in favor of jailed Samsung chief Lee Jae-yong being granted parole on the upcoming Liberation Day, which falls Aug. 15, are getting louder with a growing number of people saying this would help the company take the lead in the semiconductor industry amid stiffening competition.
Local pollster Realmeter said Monday that 66.6 percent of respondents to a recent survey said the Samsung Electronics vice chairman should be released from prison to "revitalize" the national economy.
In the poll, only 28.2 percent said Lee should not be paroled because it would be seen as granting him a special favor. The poll was conducted on 500 people aged 18 and older nationwide, Friday.
Lee is currently serving a two-and-a half year prison term after being found guilty of bribery in a corruption trial involving impeached and jailed former President Park Geun-hye.
Given the time he has already served during the judicial process, Lee will be released in July 2022, unless he receives a special pardon or is paroled.
The Realmeter poll reaffirmed a consensus that Samsung needs a leader to lead the tech giant into the next chapter for semiconductors as new technologies are being increasingly emphasized amid the ongoing U.S.-China trade war.
President Moon Jae-in called on Samsung to take a larger role as rival chip companies scramble to take a leading role by increasing their investments or acquiring other companies.
"I understand that the economic situation is developing differently than before and that a bold role by companies is required," the President said during a meeting with leaders of the country's top-four conglomerates at Cheong Wa Dae in June.
There is the possibility that the Samsung leader will be granted parole as Justice Minister Park Beom-kye approved of a plan to ease the criteria for screening this in May. The minister may begin approving parole for inmates who have served 60 percent of their sentence ― after screening ― starting this month.
Industry observers said Samsung would prefer its leader to get a presidential pardon, but that the chances of this are lower because doing so could raise questions about pardoning former Presidents Park and Lee Myung-bak, who are currently serving prison terms for corruption.
In addition, questions are still lingering on whether Lee will be able to serve as chief of Samsung even if he is freed from jail due to the "five-year employment ban rule." According to the law here, those found guilty of embezzling more than 500 million won and are imprisoned, are banned from employment at companies for five years after the end of the prison term.
However, industry observers are weighing in on the possibility that Ministry of Justice may use its discretionary authority to let Lee return to running Samsung because the issue related to Lee's pardon is more close to political ones.
"We are not saying that we should let go of Lee Jae-yong's crime. But we should let him lead in the war on the chip competition," Rep. Lee Won-wook of the Democractic Party of Korea, who also serves as a chairman of the National Assembly's ICT committee, said on July 24. "Lee's judgment is necessary and important for business negotiations and decisions such as mergers and acquisitions."
Observers note that Samsung needs a strong leader at the moment given that it is at a crossroads of remaining just a semiconductor and devices maker or becoming a pathfinder in a post-pandemic world where business operations are increasingly heading online.
However, an analyst said it remains to be seen whether Lee will be wise man leadomh the company among global big tech firms.
"JY Lee ― or simply Jay ― is known to be nice, but not having the charisma of his father. He's cautious, careful and reticent. His mark on Samsung has so far been modest. He hasn't promulgated a vision for a bold new future as Apple did under Steve Jobs. Instead, the focus is more on incremental improvements rather than anything revolutionary," said Michael Fritzell, an analyst at Asian Century Stocks who publishes on Smartkarma, in his story titled "Samsung is in a crucial transition."
He added: "The most important questions are about governance. Will the leadership transition from Lee Kun-hee to JY Lee lead to a more innovative and dynamic organization? Or will some of Samsung's competitive advantages ― speed and agility in decision making ― one day wither away? Those questions have yet to be resolved."
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