As it turns out, the access tokens of linkedin can not be refreshed without having linkedin user logging in to linkedin. Please refer to the first comment here by LinkedIn employee which clearly states a note that "this refresh will only work if the user is still logged into LinkedIn (authenticated) and the current access token isn't expired. Otherwise, the user will be presented with the login dialog again."
I guess that is now a major issue for those who were previously storing the linkedin access tokens to database for later use.
I am mentioning few links here which refer to the issue with refreshing linkedin oauth2 tokens (hope this makes it clear for everyone who is struggling with the same issue):