Korea's chaebol set to enter the twilight zone?

Gangnam IT business district in Seoul: Korean giant business is facing downturn. — CC by 2.0

LEE Jae-Young was halfway through a five-year jail sentence for fraud, embezzlement and bribing Korea’s then-president when he was granted a special presidential pardon in August 2022.

Lee, heir to the multi-billion dollar Samsung corporation and a former chief executive, was jailed in 2018 for offences including embezzling company funds to buy a US$800,000 (RM3.7mil) horse for the daughter of a friend of the then-president Park Geun-Hye.