Big strategic decisions await Samsung's Lee as momentum builds for his parole

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With bated breath, management at Samsung Electronics is waiting to see if the conglomerate's leader, Jay Y. Lee, will be released on parole this ...

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With bated breath, management at Samsung Electronics is waiting to see if the conglomerate's leader, Jay Y. Lee, will be released on parole this month.

"The word is that the U.S. investment will be finalised when Vice Chairman Jay Y. Lee is back," said one of the people. Lee's parole is expected to be reviewed on Aug. 9, and within Samsung hopes are high that he will be freed around Aug. 15 when the country celebrates Independence Day and pardons have traditionally been issued, three of the Samsung sources said.If paroled, Lee would need the Justice Minister to approve his return to work as the law bars persons from working for companies involved in certain convictions for five years.

On one hand, Samsung's day-to-day operations have been little affected by Lee's stints in prison. Operating profit in the latest quarter surged 54per cent and while he was jailed in 2017, Samsung reported its second-largest annual profit of 53.6 trillion won .

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