Jay Y. Lee, head of Samsung will be released from prison August 13th | Photo by Chung Sung-Jun/Getty Images
Samsung vice chairman Lee Jae-yong —known in the West as Jay Y. Lee— will be released from prison Friday after South Korea’s justice ministry granted him parole, the Financial Times reported. The billionaire heir to the Samsung empire, Lee, 53, had served six months of a 30-month prison sentence for offering bribes to South Korea’s former president Park Geun-hye.
Lee was first sent to prison in 2017 in the succession scandal that led to Park’s removal. He was accused of offering payments and horses as bribes to a friend of the former president to try to garner support for his succession at Samsung. Lee served just one year of a five-year sentence before a retrial was ordered in 2019. He was ordered back to prison in January.