(9 days left!) Be the first with a 200MP camera! Visit Samsung to reserve and gain $100 in Samsung credit!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Lee Jae-yong’s presidential pardon was won by popular vote

Business
By 

Last updated: September 8th, 2022 at 18:57 UTC+02:00

Samsung’s chief Lee Jae-yong received a presidential pardon last month, but the scion won his case in the court of public opinion and the army of South Korean Samsung shareholders that want to see the company succeed.

5.9 million individual shareholders have supported the release of Samsung chief Lee Jae-yong from prison after he was convicted of bribery and embezzlement a few years ago. The scion was released from prison on parole last year and was granted a special pardon by South Korean President Yoon Suk-yeol on August 12, 2022.

Samsung is the wealthiest South Korean company, and since its 50-to-1 stock split in 2018, it garnered nearly 6 million shareholders, which is a huge number considering South Korea’s total population of roughly 52 million people.

Comparatively, as highlighted by Nikkei, Japan’s largest telecom company, SoftBank, has 840,000 shareholders, and this stark contrast between Samsung’s and SoftBank’s number of shareholders is highlighted further by the fact that Japan has around 2.5 times the population of South Korea.

Last year, 70% of the South Korean population showed support for Samsung’s Lee Jae-yong pardon in polls, as many Koreans want to see Lee back in business, leading Samsung to success. Some 6 million South Koreans are invested, quite literally, in the company’s future, and many business leaders believe that Samsung needs Lee in order for the company to grow in these uncertain economic times.

Business Lee Jae-yongSamsung ElectronicsSouth Korea
Load 4 comments

You might also like

Samsung’s new move could make screen replacements costlier in the US

Samsung Display is trying to stop imports of third-party OLED screen replacements for smartphones in the US. The South Korean firm has filed a request with the ITC (International Trade Commission) to investigate the import of third-party smartphone OLED panels for independent repair stores. And this could strike a massive blow to the entire repair […]

  • By Asif Iqbal Shaik
  • 8 hours ago

Samsung signs multi-year 5G patent deal with Nokia

Samsung, the biggest smartphone brand in the world, has signed a multi-year 5G patent agreement with Nokia. As a part of this long-term agreement, the South Korean firm will use Nokia’s fundamental inventions in 5G and other technologies in its smartphones and other mobile devices. Samsung Electronics will make royalty payments to Nokia for its […]

  • By Asif Iqbal Shaik
  • 1 day ago

New leak lends more credibility to Galaxy S23 price hike for Korea

More pricing details for the upcoming Galaxy S23 series have emerged, this time for Samsung’s home market, South Korea. And it’s a bit of mixed news. The leak suggests that the Galaxy S23 series won’t get as big of a price hike as the previous rumors suggested, but it will be slightly more expensive than […]

  • By Mihai Matei
  • 5 days ago

Samsung launches 4TB version of T7 Shield SSD

Samsung launched the T7 Shield portable SSD eight months ago, and back then, the company made the SSD available in 1TB and 2TB storage capacities. Now, the South Korean firm has launched the 4TB version of the T7 Shield SSD in Germany. The T7 Shield is launching in Germany and will be available in three […]

  • By Asif Iqbal Shaik
  • 6 days ago

Samsung’s World Expo 2030 ad in Switzerland targets 2,700 leaders and top officials

Samsung’s efforts to bring World Expo 2030 to Busan, South Korea, have not ended. And in its latest bid to host the upcoming Expo, the company installed a large digital outdoor advertisement in Davos, Switzerland, right around the celebration of the annual meeting of the World Economic Forum, held between January 16 and the 20th […]

  • By Mihai Matei
  • 6 days ago

Samsung x Ledger bundle announced, may include the Galaxy S23

Samsung Germany and crypto hardware wallet manufacturer Ledger have announced a new partnership with a shared goal: to enable easy and safe buying, selling, and trading on Web3. The two companies have announced the Web3 Starter Bundle, which will go live through Amazon and includes next-generation Samsung Galaxy devices and Ledger hardware wallets. Web3 might […]

  • By Mihai Matei
  • 6 days ago