Lotte Chief Joins Jailed-Then-Released Chaebol Heads Shown Mercy

(Bloomberg) -- A Seoul appeals court on Friday let Lotte Group chairman Shin Dong-bin walk free from prison after suspending a 30-month sentence he’d received for bribery and embezzlement.

The decision was the latest example of clemency shown to a convicted head of a South Korean family-run conglomerate, which are locally known as the chaebol.

Samsung Electronics Co. Vice Chairman Jay Y. Lee, heir apparent to the nation’s largest business group, was released from prison in February after receiving a suspended sentence on charges related to a bribery scandal that toppled former president Park Geun-hye. Lotte’s Shin was also caught up in the bribery scandal for offering 7 billion won ($6 million) to a sports foundation controlled by a confidante of Park.

The white-collar crimes committed by family-controlled groups were uncovered in a series of probes and have been seen as part of a business culture President Moon Jae-in has pledged to reform. Former president Park is serving a 25-year jail term for corruption.

Notable chaebol convictions:

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