U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Instagram Outage Disrupts Thousands of U.S. Users 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Lee Jae Yong, the Samsung heir, and head is currently in jail after being handed down a two-and-a-half-year imprisonment sentence for bribery. However, it seems that he will be getting out of prison very soon.
Possible early release of the corporate heir
Yonhap News Agency reported that the chairman of the Democratic Party dropped hints last weekend that Lee Jae Yong may be freed on parole. The news comes after business leaders continue to ask the S. Korean government to pardon the Samsung de facto chief.
"Lee could possibly be freed on parole, not limited only to a pardon," Rep. Song Young Gil simply said during an interview with YNA. "There are growing public calls that Lee needs to work in the semiconductor and vaccine sectors amid the pandemic."
As early as January, some businessmen were already calling for leniency for the Samsung scion. In April, a group of business leaders came together and submitted a petition to the Blue House. They are asking the president to pardon the 52-year-old business magnate.
In May, a similar petition was submitted, but this time, it came from the American Chamber of Commerce in Korea (Amcham). The group asked the Blue House to pardon Lee since it is crucial for Samsung to be an active participant in the investment decisions in the U.S., as per Korea Joongang Daily.
Now, ahead of the Liberation Day on Aug. 15, the calls of the business leaders for Lee’s pardon have mounted further. The event is an anniversary where S. Korea’s presidents usually use their right to grant special pardon to the right people as part of the efforts to promote national unity.
A pardon or a parole for Lee Jae Yong?
In related news, Korean President Moon Jae In recently touched on the topic of whether he will set Lee Jae Yong free through a special pardon. The discussion about the matter was brought up during a meeting with business leaders last week.
Finally, The Korea Times reported that the president had a luncheon meeting with Samsung vice chairman Kim Ki Nam, LG Group chairman Koo Kwang Mo, Hyundai Motor chairman Chung Eui Sun and SK Group chairman Chey Tae Won.
It was said that President Moon is now mulling on releasing Lee Jae Yong. However, if this will push through, he is not certain yet if he will grant a special pardon or free him through parole. The answer is yet to be seen when the time finally comes.
