President Yoon Suk Yeol has signed off on a Cabinet-approved list of candidates for special pardons ahead of this week's Liberation Day.

The presidential office sent out a notice of the development to local media on Monday, while the justice ministry said the list of two-thousand-176 includes 12 businesspeople as well as seven politicians and high-ranking public officials.

Kumho Petrochemical honorary chairman Park Chan-koo and former Lotte Foundation board chairwoman Shin Young-ja have made the list for pardons and the reinstatement of all rights.

So too did Booyoung Group founder Lee Joong-keun, former Dong-A Socio Holdings Chairman Kang Jung-seok and Samyang Foods Vice Chairman Kim Jung-soo, who were all convicted of embezzlement, breach of duty and other management irregularities.

In the political realm, former finance minister Kang Man-soo, who had been convicted of power abuse, and Kim Tae-woo, the former head of Seoul's Gangseo District who was convicted for leaking irregularities in a special inspections unit under the Moon Jae-in administration, were on the list for pardons and reinstatements.

Prime Minister Han Duck-soo said during a Cabinet meeting that the pardons are expected to help revitalize the domestic economy and support citizens and the socially vulnerable get back on their feet.