It is controversial after the Samsung Compliance and Compliance Committee insisted that it will continue its activities while denying the main grounds for the contents of Samsung Electronics Vice Chairman Lee Jae-yong’s decision. Vice-Chairman Lee’s abandonment of the 4th generation management was put forward as an effective measure, but it is questionable how a non-standing organization without any legal authority and responsibility will guarantee this. Some voices came out as evidence that Samsung has no intention of changing, as those who have participated in illegal activities are still participating in the board of directors.
The Samsung Compliance Committee (Chairman Ji-hyung Kim and the vice-president committee) took a stand on the 21st and held the final judgment of Jae-Yong Lee of the Seoul High Court, saying, “Of the reasons for the judgment, opinions are clearly different on the judgment on the effectiveness of the committee.” Despite the internal and external environment, every effort has been made to pioneer Samsung’s desirable compliance management culture.” “I will not elaborate on the basis of the judgment. I will take it as an opportunity to look back on the committee itself,” he also refuted and praised himself.
Regarding the crime of bribery, the core crime of Vice Chairman Lee Jae-yong, the Seoul High Court said, “In order to solve the problem of succession of management rights, Lee Jae-yong embezzled and provided Samsung Electronics’ funds amounting to KRW 8.68 billion as a bribe, and concealed the crime by signing a false service contract. I even had perjury.” However, the Jungaming Committee argued that “there were so-called political and political relations, and many chronic violations,” and “the incentives were triggered from the inside, and there were requests that were difficult to reject from the outside.” It represents the arguments of Lee Jae-yong and Samsung that it was merely responding to a request that makes it difficult to reject the illegal act.
At the same time, the Supreme Court wrote that the core of Samsung’s compliance issues was the problem of succession of management rights. They insisted that as a result of ordering to consider this remedy, Vice Chairman Lee Jae-yong came to the public and announced that he would give up the succession to the fourth generation in the future. The juncture asked, “What can be more effective than this as a way to separate from past violations regarding succession of management rights and to block possible violations in the future?” However, there is no legally enforceable device other than Jaeyong Lee’s words. It is impatient to say that the succession to the fourth generation has already been cut off only by’declaration’ unless it is compelled within the law and system or the system of a corporation.
Accordingly, the Participation Solidarity made a comment on the 22nd and criticized the claim of the Quasi-Gambling Committee. The Participatory Solidarity Economic and Financial Center pointed out that “this position of the juncture is nothing but a direct refutation of the judgment of the judiciary.” “I express serious concern over the recognition of the facts of the quasi-gaming committee, which still praises its achievements.” The Participation Solidarity said, “It is not a watermelon-like activity as it is now, but we must thoroughly investigate issues related to the illegal merger of Samsung C&T and play a role in changing the governance structure of Samsung.” There is no reason to do it,” he urged.
In particular, the Participating Solidarity announced a press release after conducting 13 meetings and workshops, but pointed out that most of the contents were private, so it was not possible to know what was discussed. The participatory solidarity also said that there was an evaluation by the expert judges that most of the activities of the quarantine committee were insufficient. “The fact that Samsung Biologics related to illegal mergers such as fraudulent accounting, borrowed accounts, and Samsung Securities related to the use of customer personal information at the time of the illegal merger was not requested, is clear evidence that the Quarantine Committee did not operate effectively so far. ”
At the same time, Samsung C&T said that although the company’s losses were obvious at the time of the merger with Cheil Industries, CEO Chi-Hoon Choi and Vice President Lee Young-ho, who agreed to the merger, are still serving as directors. Having served on the board of directors is a clear proof that Samsung does not intend to change,” he criticized, saying, “Samsung should not talk about innovation by leaning on the third party, an external organization, and properly operate the board of directors, which is the company’s management body under the commercial law.”
The Participation Solidarity criticized that it is not a repeat of the movement of the Supreme Court of Justice until the Samsung illegal merger trial, which began with the prosecution’s accusation on September 1 of last year. did. In addition, after Vice Chairman Lee Jae-yong’s media report on prison management, the Participating Solidarity said that it was “language” and said, “It is safe to assume that the total number of persons who committed illegal acts that damage the company, such as embezzlement of corporate money, are no longer qualified as managers.”
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