Reportedly, Samsung’s chief Lee Jae-Yong got a presidential pardon recently. While the scion won his case in the court of public opinion. Whereas the army of South Korean Samsung shareholders wanted to see the company be succeeded.
Samsung chief Jae-Yong has the support of 5.9 million individual shareholders. This huge number is for the release of the chief from prison. To be noted, he was convicted for bribery and embezzlement a few years ago. Although the scion was released from prison on payroll last year only. Also subsequently he was granted a special pardon by South Korean President Yoon Suk-Yeol on August 12, 2022. This support of shareholders towards him certainly shows his popularity among them.
Shareholders support
In addition to this, the South Korean tech giant is the wealthiest company. And since it’s 50 to 1 stock spit in 2018. Also, it garnered nearly 6 million shareholders. The number is huge considering the total population of South Korean which is roughly around 52 million people.
As compared to that to be highlighted by Nikkei, Japan’s largest telecom company, Softbank has 840000 shareholders. And this distinct contrast between Samsung and Softbank’s number of shareholders is highlighted further. The fact that Japan has around 2.5 times the population of South Korea.
Talking about last year’s numbers 70% of the South Korean population showed support for Samsung’s Lee Jae-Yong pardon in polls. This favouritism as many Koreans again want to see Lee back to the business, and as per them, that leads Samsung towards success. Around 6 million South Korean are invested in the future of the company. Whereas many more business leaders literally believe that Samsung needs Lee at this tough time. In order for the company to grow in these uncertain economic times.
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