[서울신문] Jaeyong Lee, “Compliance Committee, please do your best to serve”

Emphasizing compliance management by revealing the first position “continue support”
The Compliance Committee reviews 7 companies’ improvement plans at regular meetings
If you do not accept the recommendation to correct the violation of the law,
Strengthen standards to be decided by the resolution of the board of directors

“Concentrating on’healthy governance’ after giving up the 4th generation succession”
Reveals plans to prevent’succession risk’ of members

In his first message, Samsung Electronics Vice Chairman Lee Jae-yong emphasized his willingness to support the Samsung Compliance Monitoring Committee, an external independent organization that monitors Samsung’s integrity management. The Compliance Committee replied that it would take a further drive in strengthening Samsung’s compliance management, although it was evaluated as “not effective” at the trial and was hurt by its status.

On the 21st, Samsung Electronics said, “Vice-Chairman Lee pledged to continue supporting the activities of the Compliance Committee through a lawyer, and asked the (Compliance Committee) chairman and members to fulfill her natural role in the future.” This is the first position that Vice-Chairman Lee, who was sentenced to 2 years and 6 months at the court for cancellation of the Gukjeong Nongdan incident on the 18th and was imprisoned at the Seoul Detention Center in Uiwang, Gyeonggi Province, after his arrest. As the court ruled out the compliance committee’s activities from the sentencing decision, voices of concern about the compliance committee’s sustainability grew, and Vice-Chairman Lee appears to have stepped up and helped the compliance committee’s activities.

On this morning, the Compliance Committee held a regular meeting at the Seocho building of Samsung Life Insurance in Seoul and discussed improvement proposals submitted by seven affiliates, including Samsung Electronics, Samsung Life Insurance, and Samsung C&T.

The committee members issued a separate statement and said, “We will work harder to fill the deficiencies of the committee’s activities and prove its effectiveness as a result of the committee’s activities.” On the 18th, the revoked remand court judged that the compliance committee did not meet the standards of effectiveness, saying that it had not reached the point of defining a new type of risk and conducting preemptive surveillance activities.

Accordingly, the committee ▲ ordered to think about a remedy after initial diagnosis that the’the nucleus of Samsung’s compliance issue’ was in the succession problem ▲ received a promise to give up the 4th generation succession from Vice Chairman Lee ▲ The top management inside the company is a compliance issue The achievements include the change in the attitude toward dealing with the company ▲ The increased status of the compliance team.

At the same time, the committee members said, “We will focus more on the issue of establishing a’healthy governance structure’ after Samsung’s abandonment of succession to the fourth generation and come up with measures to prevent another risk related to succession.” He made it clear that he would strengthen the culture. The Compliance Committee added that “Vice-Chairman Lee also confirmed this point until recently.”

At the meeting, a proposal to improve the committee’s operating regulations to strengthen compliance management obligations of seven Samsung affiliates was also discussed. In the past, if affiliates do not accept the compliance recommendation for a violation of the law, the standard was reinforced so that it is decided through a resolution of the board of directors. When the committee recomended, the board had to decide whether to accept it. At this time, the compliance committee chair reinforced the authority to attend the board of directors and give opinions. The Compliance Committee will hold a private meeting with the top executives of seven Samsung affiliates at 10 am on the 26th.

Reporter Jeong Seo-rin [email protected]