5 YEAR EMPLOYMENT BAN ON LEE JAE-YONG

입력 2021.02.17 (15:36) 수정 2021.02.17 (16:52)

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[Anchor Lead]

The Justice Ministry has issued a five-year employment ban for Samsung heir Lee Jae-yong, who is serving a sentence for giving bribes to the ousted former president Park Geun-hye. Lee will be required to obtain a special permit if he wants to do business after his release from jail.

[Pkg]

​Samsung Electronics Vice Chair Lee Jae-yong is serving a two-and-a-half-year prison sentence for giving more than 8 billion won in bribes to former president Park Geun-hye, among others. He was convicted according to the Act on the Aggravated Punishment for Specific Economic Crimes. The Samsung heir's prison term was finalized after his attorney and the special counsel decided not to appeal. Three weeks after the verdict, the Justice Ministry issued an employment ban for Lee. Under the Act on the Aggravated Punishment for Specific Economic Crimes, those found guilty of embezzlement or malfeasance of more than 500 million won are banned from employment at companies involved in their criminal acts. The measure is aimed at preventing those who inflict damage to corporations by committing malfeasance from doing business or receiving money. The ban is effective for five years after the end of the prison term. Even if Lee Jae-yong is released next July, he will not be allowed to resume work in Samsung until the second half of 2027. Hanwha Group chief Kim Seung-yeon, whose prison sentence for embezzlement was suspended, also faced an employment ban. He had to resign from all posts. However, the Samsung heir is still allowed to apply for a special employment permit. It must be examined by the Justice Ministry's committee on economic crimes and approved by the minister. A ministry official said if Lee applies for the permit, the ministry will examine it in line with due procedure.

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  • 5 YEAR EMPLOYMENT BAN ON LEE JAE-YONG
    • 입력 2021-02-17 15:36:53
    • 수정2021-02-17 16:52:16
    News Today
[Anchor Lead]

The Justice Ministry has issued a five-year employment ban for Samsung heir Lee Jae-yong, who is serving a sentence for giving bribes to the ousted former president Park Geun-hye. Lee will be required to obtain a special permit if he wants to do business after his release from jail.

[Pkg]

​Samsung Electronics Vice Chair Lee Jae-yong is serving a two-and-a-half-year prison sentence for giving more than 8 billion won in bribes to former president Park Geun-hye, among others. He was convicted according to the Act on the Aggravated Punishment for Specific Economic Crimes. The Samsung heir's prison term was finalized after his attorney and the special counsel decided not to appeal. Three weeks after the verdict, the Justice Ministry issued an employment ban for Lee. Under the Act on the Aggravated Punishment for Specific Economic Crimes, those found guilty of embezzlement or malfeasance of more than 500 million won are banned from employment at companies involved in their criminal acts. The measure is aimed at preventing those who inflict damage to corporations by committing malfeasance from doing business or receiving money. The ban is effective for five years after the end of the prison term. Even if Lee Jae-yong is released next July, he will not be allowed to resume work in Samsung until the second half of 2027. Hanwha Group chief Kim Seung-yeon, whose prison sentence for embezzlement was suspended, also faced an employment ban. He had to resign from all posts. However, the Samsung heir is still allowed to apply for a special employment permit. It must be examined by the Justice Ministry's committee on economic crimes and approved by the minister. A ministry official said if Lee applies for the permit, the ministry will examine it in line with due procedure.

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