The justice ministry has begun a review of cases up for presidential pardons, the first of the Yoon Suk Yeol administration, on the occasion of the Liberation Day holiday next week.

Once the ministry's review panel shortlists the candidates for recommendation, justice minister Han Dong-hoon is expected to report the list to the president. The pardons are likely to be announced on Friday, three days prior to Liberation Day.

It had been highly speculated that former President Lee Myung-bak, who was temporarily released in June due to health concerns while serving a 17-year sentence on corruption charges, will be pardoned.

It remains uncertain, however, whether Yoon will grant pardons to politicians while simultaneously contending with a disapproval rating as high as 70 percent.

Among business leaders, Samsung Electronics Vice Chairman Lee Jae-yong is a highly likely candidate.

Although Lee was released on parole last year and the his two-and-a-half-year sentence for bribery was up late last month, a pardon would lift a five-year restriction on employment.

Another possible political figure is former South Gyeongsang Governor Kim Kyoung-soo, a close ally of former President Moon Jae-in currently serving a two-year prison term in a public opinion rigging case.