Samsung leader Lee Jae-yong released from jail

South Korean politicians and business leaders have called for billionaire Lee Jae-yong to be paroled following a highly publicized bribery conviction. Lee Jae-yong, who was sentenced to 2.5 years in jail earlier this year after being convicted of bribery and embezzlement, has been released on parole in South Korea. "I've caused much concern for the people. I deeply apologise," he said. Lee assumed Samsung's leadership after his father Lee Kun-hee was hospitalised in 2014 and later died.

He served 207 days in jail - just over half the sentence he received after being convicted of bribery and embezzlement in January. The case involved the country's former President Park Guen-hye, who is also in jail for bribery and corruption.

He was accused of paying 43bn won ($37.7m; £26.7m) to two non-profit foundations operated by Choi Soon-sil, a friend of Park's, in exchange for political support - alleged to include backing for a controversial Samsung merger which paved the way for Lee to become eventual head of the conglomerate.

The deal needed support from the government-run national pension fund.

At the time of his verdict, the court said that Lee "actively provided bribes and implicitly asked the president to use her power to help his smooth succession" at the head of Samsung.

The court found Lee guilty of bribery, embezzlement and concealment of criminal proceeds worth about 8.6 billion won ($7.8m; £5.75m).

The Justice Ministry said it made the decision to release Lee after considering the effects of the pandemic on South Korea's economy and global markets.

In a statement, President Moon Jae-in's office said his release was made in the national interest and asked for understanding.

However, Lee's parole conditions include five years of business restrictions - it is unclear if he will be able to run the company unless he gets an exemption. He will also need approval for any trips abroad. Lee is also under investigation for fraud and stock manipulation and if found guilty could be jailed again.