Samsung heir Lee Jae-yong released from South Korean prison

Samsung heir Lee Jae-yong has been released from a South Korean jail and is now on parole. He served 207 days in prison - just over half of his punishment after being sentenced of bribery and fraud in January.

The case concerns the former president of the country park Guen-hye, who is also in prison for bribery and embezzlement.

Lee's grandfather founded Samsung Electronics and he has been the de facto boss since 2014.

Lee made a brief remarks to reporters outside the prison.

"I'm worried a lot about people. I apologize deeply," Lee said. "I listen to the concerns, the criticisms, the concerns and the high expectations for me. I will work hard."

In January, the 53-year-old was sent to prison by a Supreme Court judge for two and a half years.

He was accused of paying $43 billion to two non-profit foundations, run by Choi Soon-sil- a friend of the park, in exchange for political support. He claimed that he had support for a controversial Samsung merger which paves the way for Lee to become the eventual head of the conglomerate. The deal needed support from the state pension fund.

In its ruling, the court said Lee "actively gave bribes and inevitably demanded the president to use her power to help his constant succession" at the wheel of Samsung.

Lee was found guilty of bribery, embezzlement and conspiracy to commit criminal proceeds worth approximately $ 8.6 billion ($ 7.8m; £ 5.75m).

The Justice Department said it decided to release Lee after considering the impact of the pandemic on South Korea's GDP and global businesses.

In a delcaration, President Moon Jae-in told his office that his publication was made in the national interest and asked for understanding.

"We are fully aware that there are supportive and opposing views on Vice President Jay Y Lee's slogans. The views of those who oppose them are also true," it said.

"On the other hand, there have been many people who have called for his slogan in this difficult crisis, in the hope that he will help the country in terms of half-lives and vaccinations."

However, Lee's parole terms include five years of business restrictions - it's not clear if he will be able to run the company unless he gets an exception.

He also needs permission for all trips overseas.

Lee is also under probe for cheating and stock manipulation and if found true, he could be remanded in custody.

This seems to be an economic decision by the South Korean Ministry of Justice. Free the Samsung heirs and help Covid recover the land.

It is also worth noting that the law was amended earlier this year to allow prisoners to be prosecuted for parole after serving 60% of their sentence. That allowed Mr Lee to be released today.

However, suppose we are going to go into the presidential election here in South Korea. In that case, the current administration calculates that voters will reward the ruling party for their economic decisions more than if they kept their previous promises.