South Korea President Yoon pardons Samsung vice-chairman Jay Y. Lee

South Korea's Justice Ministry said the business leader was needed to help overcome a "national economic crisis"

South Korea's President Yoon Suk-yeol pardoned Samsung Electronics vice-chairman Jay Y. Lee on Friday, with South Korea's Justice Ministry saying the business leader was needed to help overcome a "national economic crisis".

The pardon is largely symbolic, with Mr. Lee already out on parole after serving 18 months in jail for bribery relating to his time leading the world's biggest smartphone and memory-chip maker.

However, it should mean Mr. Lee will be able to carry out business activities more freely and could herald some big moves from Samsung, analysts said.

"With urgent needs to overcome the national economic crisis, we carefully selected economic leaders who lead the national growth engine through active technology investment and job creation to be pardoned," Justice Minister Han Dong Hoon told a briefing.

Also pardoned by pro-business President Yoon was Lotte Group chairman Shin Dong-bin, who was sentenced to a two-and-a-half-year prison sentence on charges of bribery.

"We sincerely thank the government's and people's decision to grant pardon, and Chairman Shin Dong-bin and staff members at Lotte will contribute to overcoming the complex global crisis," Mr. Lotte said in a statement.

Samsung did not immediately comment.