Executive Chairman Samsung Electronics
Executive Chairman of Samsung Electronics since 2022. Son of late Chairman Lee Kun-hee. Convicted of bribery in 2017, served 18 months in prison, and was pardoned by President Yoon in 2022. Leads Samsung's global semiconductor expansion.
President Yoon Suk Yeol pardoned Lee Jae-yong on August 15, 2022, citing Samsung's importance to 'overcoming the national economic crisis.' The pardon ended Lee's 5-year ban on holding formal Samsung positions, allowing him to become Executive Chairman. Civic groups criticized the pardon as 'cozying up to chaebol' and sending a message that 'they are free to commit all the crimes they want.'
Lee Jae-yong issued a public apology on May 6, 2020 for Samsung's decades of union suppression, stating: 'I offer a sincere apology to every person who has been hurt by Samsung's labor union issues. From now on, we will ensure that there's no more about a union-less Samsung.' Samsung subsequently signed collective agreements with four unions in August 2021.
Lee Jae-yong was convicted of bribing associates of President Park Geun-hye approximately $38 million (43.3 billion won) to secure government support for a 2015 merger that consolidated his control of Samsung. Bribes included funding for equestrian training and horses worth $3.2 million. He served 18 months in prison before being released on parole.