Embattled Samsung Electronics Vice Chairman Lee Jae-yong was released on parole from a South Korean prison on Friday. He was convicted of embezzlement and corruption, BBC reported.
Lee said he was very sorry for causing public concern upon his release. "I have caused too much concern to our people and I'm very sorry for that," he uttered before bowing.
Lee donned a dark grey suit and looked slimmer than when he was taken to prison in January when he appeared outside the capital's detention facility.
Hundreds of demonstrators standing behind police lines chanted slogans in unison, welcoming or denouncing his release from detention.
Lee has a year left on his sentence for crimes connected to the bribery controversy that unseated South Korea's previous president, Park Geun-Hye.
#UPDATE Jailed de facto head of Samsung walks free on parole - the latest instance of South Korea's tradition of freeing business leaders imprisoned for corruption or tax evasion. Lee Jae-yong is the 202nd richest person in the world, Forbes reportshttps://t.co/JGZvDMgcgc pic.twitter.com/o4zjkg8taA — AFP News Agency (@AFP) August 13, 2021
Samsung's de facto leader has been in jail since the court found him guilty and ordered him to serve two-and-a-half years behind bars on Jan. 18 over a corruption case involving the former president.
Park has been serving time since 2017 and will not be released until 2039 if she serves her term in full.
Lee's release makes him just the latest in a string of South Korean corporate top honchos being given lenient punishment for financial crimes, the Associated Press said.
He was alleged to have paid 43 billion won (around $38 million) to two non-profit foundations run by Choi Soon-Sil, a friend of Park's, in exchange for political support.
According to reports, the favor included support for a questionable Samsung merger, which set the stage for Lee to become an eventual leader of the tech empire.
Lee's grandfather founded Samsung Electronics, and the 53-year-old billionaire has been the de facto leader since 2014.
Samsung Electronics is one of the world's largest manufacturers of mobile phones and computer memory microchips.
South Korea's Ministry of Justice said it decided to release Lee after evaluating the impact of the COVID-19 crisis on the country's economy and world markets.
Even with the court's granting of his parole, Lee isn't off the legal hook yet.
He is also under probe for stock manipulation and fraud. If found guilty, he could be sent to prison again.
