The scale of the pardons could be reduced on political considerations over a recent corruption scandal involving her close aide and worsening public sentiment on her decision to deploy an antiballistic missile system here, said some South Korean firms, requesting anonymity.

Last week, Park said she would issue pardons ahead of the Aug. 15 Liberation Day, to help overcome the economic crisis, signaling her plan to give leniency to tycoons behind bars.

South Korean presidents can exercise pardons without seeking parliamentary endorsement.

But there has also been debate over them granting pardons to conglomerate owners, as such decisions could lack fairness and go against the principles of law.

With less than a month left to the national holiday, Cheong Wa Dae appears to be contemplating the impact that pardoning business executives could have on public sentiment which is already aggravated by the corruption scandal and THAAD.

Business circles urged the president to have more businessmen freed through her special authority.

“The people might feel regrettable about (pardoning businessmen),” said Park Yong-maan, chairman of Korea Chamber of Commerce and Industry.

“But I hope to have more people (granted the president’s pardon) so that they can return to management and make contributions to (the Korean economy).”

Names mentioned as possible candidates for presidential pardons include Hanwha Group chairman Kim Seung-youn, SK Group vice chairman Chey Jae-won, LIG NEX1’s Koo Bon-sang and CJ Group chairman Lee Jay-hyun.

Among the four, SK Group’s Chey is likely to be granted with the presidential pardon, according to local reports, citing the government’s decision to review a conditional release from prison later this month.

A parole review committee under the Justice Ministry concluded that the 53-year-old is qualified for the review list, as he served nearly 93 percent of his sentence and was a model prisoner.

In 2014, the younger brother of SK chairman Chey Tae-won was sentenced to 3 1/2 years for embezzlement. Justice Minister Kim Hyun-woong is to make his final decision on July 29.

Meanwhile, LIG NEX1’s Koo who also served more than 90 percent of his prison term was disqualified from the review, as too many people had suffered because of him.

Koo was sentenced to four years for account fraud and irregularities surrounding his company’s corporate bonds worth 200 billion won ($176 million), inflicting massive damage to investors.

To be on the candidate list, Lee has to accept the court’s ruling and serve his prison term.

In 2014, the chairman and owner of the nation’s food and entertainment giant was found guilty by a lower court of misappropriating 165.7 billion won in company assets to offshore slush funds and dodging taxes in the process. The Seoul High Court sentenced him to 2 1/2 years in jail and a fine of 25.2 billion won late last year.

But Lee has requested to delay his imprisonment several times as he suffers from Charcot Marie Tooth Disease, an inherited neurological disorder. He has not served a single day in prison. In 2013, the chairman also received a kidney transplant.

By Cho Chung-un (christory@heraldcorp.com)