“(Vice Chairman Lee Jae-yong) withdrew from the day-to-day management of one of the world’s most valuable tech giants and spent a year and a half in jail.”
Samsung Electronics Vice Chairman Lee Jae-yong is heading to court on the afternoon of the afternoon of the 18th, attending a hearing for the revocation of the case of’Gukjeong Nongdan’ held at the Seoul High Court. yunhap news
The New York Times reported this when Samsung Electronics Vice Chairman Lee Jae-yong was sentenced to two years and six months in jail on the 18th at a repatriation trial for the destruction of the Gukjeong Nongdan case.
“The judgment will affect Jaeyong Lee’s leadership”
Foreign media referred to Lee as the’de facto leader of Samsung’ and reported in detail the fact of his arrest.
The Wall Street Journal (WSJ) said, “Samsung’s de facto leader Lee Jae-yong is again imprisoned for bribery. He, called Jay Y. Lee in the West, has led Samsung after his father fell into a stroke in 2014.” Explained.
Reuters reported that the ruling would have a major impact on Lee’s leadership.
Reuters said, “As Samsung Electronics struggles to overtake its competitors, Vice Chairman Lee has withdrawn from major decisions.”
“Dramatic ending of the trial that caused the anger of collusion with the political world”
Bloomberg News also expressed an opinion that a business gap will occur. The news agency reported that “a dramatic conclusion came from the bribery trial, which has continued for many years, which has sparked fierce anger over political and economic affiliation,” and that “the world’s largest electronic company’s top decision maker was imprisoned in a situation where global uncertainty intensified and competitors emerged.” .
In addition, “the largest memory chip, smartphone, and consumer electronics companies’ head positions have been vacated in a situation where uncertainties arising from intensifying competition and US-China relations are intensifying due to the new coronavirus infection (Corona 19) pandemic,” he said. “With the absence of Vice Chairman Lee As a result, large-scale investments or long-term strategic actions will be delayed or complicated.”
Japan’s Nihon Keizai Shimbun said, “Vice-Chairman Lee was scheduled to take office as Chairman Lee Kun-hee after the death of Chairman Lee Kun-hee in October 2020 and become the head of management in the name of the largest corporation in Korea.” Told. It was also mentioned that Samsung Electronics’ stocks fell by more than 4% at one time during the intraday as the market fluctuated in anticipation of the probation.
The BBC also predicted that “this sentence will lead to a leadership gap and may impede Samsung’s decision to make large-scale investments in the future,” and also predicted that the ruling would affect the role of Vice Chairman Lee in Samsung Electronics.
Reporter Shin Hyeyeon [email protected]