U.S. companies are putting pressure on South Korea to release its jailed Samsung boss

U.S. companies have called on President Moon Jae-in to release South Korean President Lee Jae-yong from the Samsung chair, saying billionaire executives could push efforts to strengthen American dependence on computer chips produced in foreign countries by Joe Biden.

Samsung is weighing in investments worth billions of dollars In U.S. semiconductor facilities, Seoul-based teams surveyed sites Austin, where it already has a chip manufacturing plant, as well as Phoenix and New York.

In the wake of the economic downturn caused by the Coronavirus pandemic, the U.S. government and businesses are desperately trying. locate supply chains for crucial technologies, including semiconductors.

Among the initial initiatives of his presidency was Biden He has submitted a $ 50 billion plan To boost the U.S. semiconductor industry. But the focus on reviving America’s self-sufficiency in computer chips has intensified global scarcity it has also begun to hit other industries in chips used in cars.

The Korean American Chamber of Commerce warned Moon, however, that if South Korea were at risk of becoming a strategic partner of the U.S., Samsung would be in danger. the largest chip manufacturer in the world, was not fully responsible for Biden’s efforts, according to a letter seen by the Financial Times.

“We believe that the pardon of Samsung’s top executive is in the best economic interests of the U.S. and Korea,” Chamber Chief Executive James Kim told FT.

The call coincided with Moon’s trip to Washington for a summit with Biden, and the two were due to meet on Friday.

Lee is Served for 18 months behind bars for shopping Park Geun-hye, the former president, prosecutors and critics said the move was a certified project to control the Samsung group, South Korea’s largest company. The faces of the richest man in South Korea more charges supposedly related to his succession.

A 52-year-old man remains under Samsung’s control from a prison cell outside the south of Seoul a strict hierarchical nature critics have said that in terms of family-controlled business, bargaining power is limited.

There have been pardons from convicted businesses and political leaders common feature Of South Korean politics. For decades, the heads of many chaebol families, powerful elite businesses, avoided imprisonment or reduced pardons. In 2015, Chey Tae-won, head of SK Group, was the third largest company in South Korea Forgive the park.

However, the issue of pardons is deeply rooted divide the South Koreans. Before Moon became president he vowed to end the practice.

The state of the moon is complex with its two predecessors, Park and Lee Myung-bak, they are also behind it for bribery and corruption. Their supporters have also sought pardons.

The Korean American Chamber of Commerce, which has about 800 member companies, is “non-political” in joining South Korean business and industry groups in seeking Lee’s early release, CEO Kim said.

Beyond economic cooperation, Moon and Biden will be discussed North Korean nuclear weapons, sanctions, coronavirus vaccines and regional security in response to threats posed by China.