SEOUL—South Korea’s president pardoned 6,527 people, including the head of one of the country’s biggest conglomerates, in a move she said was aimed at helping the economy and lifting the national mood ahead of a major anniversary of Korean independence.

Among the most notable people to receive the presidential pardon Thursday was Chey Tae-won, the chairman of SK Group, South Korea’s third-largest conglomerate. He had been serving a four-year prison sentence for misappropriating company funds.

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