South Korean President Lee Myung-bak yesterday (Aug 12) decided to grant a special pardon to over 340,000 people on Aug 15, Liberation Day.

The pardon will include convicted business heavyweights in an effort to "revitalise the economy", causing some critics to claim Lee is abusing his presidential power.

The amnesty list of 341,864 people to be pardoned or to be reinstated includes high-profile tycoons such as Hyundai Kia automotive group chairman Chung Mong-koo, SK energy chairman Chey Tae-won, Hanwha group chairman Kim Seung-youn and Hyundai Motor vice chairman Kim Dong-jin.

The decision, celebrating the 63rd anniversary of the Aug 15 Liberation Day and the 60th national foundation anniversary, came after the nation's top five economic groups sent a letter last week to the president. The letter said the pardon of 106 business figures is indispensable to bolstering the deteriorating morale in business circles.

"The pardon is to be executed in a bid to rally the popular power in forging a social atmosphere for national unity, resolving the priority issue of revitalising the economy and creating jobs," presidential spokesman Lee Dong-kwan said in a press briefing.

In response to the criticism that the decision favored business leaders, the spokesman quoted President Lee as saying at a weekly Cabinet meeting, "I personally remain skeptical, but made the decision as entrepreneurs face difficulties in their activities overseas with the investor sentiment (turning unfavourable for them)."

"The pardon calls for the leading businesses to expand their investments through aggressive management and to cooperate with small- and medium-sized firms to alleviate their burden," the president added.

Dismissing concern that the massive amnesty could lessen respect for the law, the president vowed to take stern action against any lawbreaker during his term. He stressed that those to be pardoned broke the law before his presidency began in February.

Various economic groups praised the pardon, raising hopes of economic revitalisation.

"We will help the national economy improve through pouring our energy into activating investment and creating new jobs," said the Federation of Korean Industries in a statement.

Opposition parties and critics chided the decision to pardon even those whose court rulings were finalised less than five months ago. The final rulings for corruption charges of the Hyundai and SK chairmen were rendered in June and May, respectively.

"Such a pardon will only increase public grievances as the list includes the business tycoons who were convicted of crimes that prompted great social problems," said Kim Yoo-jung, spokesperson of the main opposition Democratic Party.

"The special pardon under the name of boosting the economy benefits even those convicted of anti-social violence. Abusing the pardon right could undermine the independence of the judiciary and national harmony," said Park Sun-young, spokesperson of the minor Liberty Forward Party.

The government will also pardon 204 convicts who formerly engaged in small businesses to help contribute to job creation and stabilise their livelihoods.

A total of 12 politicians are to be pardoned, including Han Gwang-ok, former top presidential secretary for Kim Dae-jung; Lee Hoon-pyung and Park Sang-kyu, former Democratic Party lawmakers; Park Myung-hwan, former Grand National Party lawmaker; and Kim Yong-chae, former construction and transportation minister.

The 12 heads of provincial governments to be pardoned include former Masan Mayor Kim In-gyu; former Samcheok Mayor Kim Il-dong; and former Sokcho mayor Dong Moon-sung.

Ten public servants are to be granted amnesty, including Min O-gi, former chief of the Seodaemun Police Station; Kang Buk-hwan, former education office chief of South Chungcheong province; and Bong Tae-yeol, former chief of the Seoul Regional Tax Office.

Five journalists were also on the list, including Bang Sang-hoon, president of Chosun Ilbo; Kim Byung-kun, former vice president of Dong-A Ilbo; and Cho Hee-jun, former president of Kukmin Ilbo.

Except for those who are charged with or convicted of election law violations in the April general election, 1,902 election offenders are set to be pardoned.