Among the people who received a presidential pardon ahead of the annual Liberation Day this year is Samsung's Vice President, Jay Y. Lee. The pardon was allegedly given to help the economy.
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Samsung's Chairman, Lee Kun-hee, has passed away at the age of 78. He had spent the last six years in hospital after suffering a heart attack. Lee had a mixed reputation over his work at Samsung.
Samsung Group's vice chairman Jay Y. Lee could not escape arrest for a second time, after prosecutors presented evidence in court that Lee was hiding assets and could destroy evidence.
Samsung Electronics will answer on Tuesday an official proposal to split the company in two. The move, pushed for by a US hedge fund, would come as Samsung is dumping underperforming divisions.
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