On the 26th, the Samsung Compliance Monitoring Committee held a meeting with the top management of seven Samsung affiliates. Chairman Kim Ji-hyung (far left) and Samsung Electronics vice chairman Kim Ki-nam (right) attended the event. Provided by the Samsung Compliance Monitoring Committee
Vice Chairman Lee Jae-yong of Samsung Electronics released a message in prison to prevent employee agitation. Regardless of the situation in which it is located, Samsung has to go the way it should go. This is the first time that Vice Chairman Lee has left a message in prison to employees. In February 2017, when he was first arrested for the Gukjeong Nongdan incident, a message came out in the name of the president, not Lee vice chairman. It is interpreted that Vice Chairman Lee made his own voice to appeal to him not to be shaken even in the severe situation of the’absence of the president’.
○“I will keep my promise with the people”
According to Samsung Electronics on the 26th, Vice-Chairman Lee, Vice Chairman Kim Ki-nam, Device Solution (DS) Division, Kim Hyun-seok, Consumer Electronics (CE) Division President, and Ko Dong-jin, IT·Mobile (IM) Division President, said, “Please don’t shake.” Delivered. Samsung explained that the vice-chairman’s dictation was delivered to the president because there were few lawyers.
Vice-Chairman Lee said, “I am very sorry that I will cause you to worry again because of my shortcomings.” “I am very sorry for carrying too much burden.” “Regardless of the situation in which I am facing, Samsung must continue to go the way it should go,” he said. “We must keep the promises already made to the people.”
He also made it clear what his promise with the people was. Vice Chairman Lee explained, “We must be faithful to the corporate duty of investment and job creation, and furthermore, we must be reborn as Samsung that fulfills its social responsibilities.” It also revealed that he would like to work with the employees again. He said, “I will never waste time now,” and “I will make sure to create a new Samsung with you.” On the 18th, Vice Chairman Lee was sentenced to two years and six months in prison in the case of the Gukjeong Nongdan case and was arrested in court.
○ Samsung affiliates committed to compliance management
On that day, the Samsung Compliance Committee (Compliance Committee) held a meeting with the top management of seven major Samsung affiliates, including Samsung Electronics, Samsung C&T, and Samsung Life, at the Samsung Electronics Seoul Seocho office building. It was a place to listen to the status of compliance management of each company and discuss improvements. At Samsung Electronics, Vice Chairman Kim and President Yunho Choi (CFO and Chief Financial Officer) attended. Samsung SDI President Jeon Young-Hyun, Kye-Hyun Kyu-Hyun, President of Samsung Electro-Mechanics, Samsung SDS President Hwang Seong-woo, Samsung C&T CEO Jeong-Seok Jeon, Samsung Life Insurance CEO Jeon Young-mook, and Samsung Fire & Marine Insurance President Choi Young-moo were also present.
Compliance Chairman Kim Ji-hyung emphasized the importance of meeting and communication through a greeting, and said, “The will of the top management for compliance management is important.” Vice Chairman Kim replied, “I will try to make Samsung a respected company beyond top-notch company through compliance management.”
Compliance management is a virtue that Vice Chairman Lee continued to emphasize. On the 21st, the third day of his arrest, he expressed his intention to “continue to support the activities of the Compliance Committee” through a lawyer. Then, I asked the compliance committee members to “continue to do their part in the future.”
The Compliance Committee is an organization that was launched by the Court of Justice for the destruction of the Gukjeong Nongdan case and ordered Samsung to △ bold innovation △ prepare an internal compliance monitoring system △ correct the damages of the chaebol system. At the time, the judge said that it would evaluate the activities of the Compliance Committee and reflect them in the sentencing, but the results were different from expectations. The court sentenced Vice-Chairman Lee to imprisonment, pointing out that “Samsung’s new compliance system has not reached the prevention and monitoring activities for possible new risks.”
Reporter Song Hyung-seok [email protected]