At Samsung Electronics’ regular shareholders’ meeting, vice chairman Lee Jae-yong of Samsung Electronics continued to discuss the issue of employment restrictions.
Samsung Electronics held the 52nd regular shareholders’ meeting at Suwon Convention Center in Gyeonggi-do on the 17th. At this meeting, shareholders were asked several times about Lee’s progress.
Vice-Chairman Lee is imprisoned in Seoul detention center after being sentenced to two years and six months in prison for repatriation of the Gukjeong Nongdan. In this regard, the Ministry of Justice reportedly informed Vice Chairman Lee of the restriction on employment. In fact, if employment is restricted, Vice-Chairman Lee will not be able to conduct business activities for five years after completing his service.
To successive questions from shareholders regarding the restriction on employment by Vice Chairman Lee, CEO Ki-Nam Kim (Vice Chairman) replied, “We will comprehensively review the role of Vice Chairman Lee Jae-yong in consideration of the company’s situation and legal regulations.”
On this day, the Solidarity for Economic Reform and the Solidarity for Participation held a press conference and urged the board of directors to take a clear position and respond to the restrictions on the employment of Vice Chairman Lee Jae-yong.
An official from the Economic Reform Association said, “According to the announcement of Samsung Electronics’ 2020 business report, Vice Chairman Lee has only changed his work type to part-time since January 18, this year when his guilty and sentence was confirmed, and he is still serving as the vice chairman.” It is a clear violation of the law to violate the employment restrictions under the Economic Crime Act.”
“The Minister of Justice emphasized that a person who has violated the employment restrictions must demand dismissal from the head of the institution or company in which he is employed, and the head of the company must comply with the request without delay.”
Regarding this, one shareholder said, “Why should (Vice-Chairman Lee) be jailed because this is a thing to hit the ground and vomit resentment?”
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Another shareholder argued, “Politicians who have made mistakes so far are still active, but this vice chairman is only the management of a single company,” and argued that “Samsung Electronics shares life with Korea.”
On the other hand, regarding the role of the Samsung Compliance Committee, Vice Chairman Kim Ki-nam said, “As an independent external organization, we have strengthened the compliance monitoring and control functions of Samsung Electronics and other Samsung affiliates.” It is the purpose” he explained.