Chey Shinwon, former chairman of SK Networks, has been included in the list of those granted a special pardon for Liberation Day on Aug. 15 by the government of Lee Jae-myung. Chey was sentenced to two years and six months in prison for embezzlement and breach of trust and has served approximately 13 months so far, and will have his remaining sentence waived and his rights restored. Former Samsung Electronics Vice Minister Choi Ji-sung and former Vice Administrator Jang Chung-ki, who were convicted in connection with the 'Choi Soon-sil National Affairs Scandal,' are also included in the pardon list.
On the 11th, the government announced details of the '80th Anniversary Liberation Day Special Pardon.' This special pardon is the first pardon of the Lee Jae-myung administration and will be carried out on the 15th. A total of 16 business figures are included in this pardon. Minister Jeong Seong-ho stated, "We decided to grant pardons to business figures and small entrepreneurs who have contributed to economic development, providing them with an opportunity to participate in revitalizing the economy and bringing vitality to the livelihood economy."
The future pardoned Chey has been a significant figure as the second son of Chey Jong-geun, the founder of SK Group, and is a cousin of Chey Tae-won, the chairman of SK Group. Chey was sentenced to two years and six months in prison by the Supreme Court in May for embezzlement and breach of trust. The court found him guilty of borrowing approximately 15.5 billion won from the affiliate SK Telescis to pursue his personal golf course business.
Former Deputy Minister Choi and former Vice Administrator Jang were convicted in 2021 for soliciting former President Park Geun-hye and Choi Soon-sil (now known as Choi Seo-won) for assistance in the succession of Samsung's management rights and restructuring its governance, along with providing bribes. At that time, Lee Jae-yong was also sentenced to the same term. He was released earlier on parole that year and had his rights restored. The two were granted parole in March 2022 but have not been reinstated.
Hyeon Jae-hyeon, the former chairman indicted in the 'Tongyang Group Incident,' will also be restored. Hyeon was arrested and indicted in 2013 for hiding the risk of bankruptcy of Tongyang Group and issuing short-term commercial paper and corporate bonds worth approximately 1.3 trillion won, causing harm to general investors. Initially sentenced to 12 years in prison, his sentence was reduced to 7 years in the second trial and was upheld by the Supreme Court. After his sentence was confirmed, Hyeon declared personal bankruptcy in 2016. He was released upon completion of his term in 2021.
Related article [Exclusive] Choi Ji-sung, Jang Chung-ki, and Hyeon Jae-hyeon from the 'National Affairs Scandal', included in the Liberation Day pardon list
Park In-gyu, former chairman of Daegu Bank, has also been reinstated. Park was convicted of involvement in employee hiring bribery in 2018 and received a sentence of one year and six months. He was released upon completion of his term in 2019.