Lee Jae-yong’s arrest in the economic world is sad… Inevitable adverse effects on the Korean economy

“Samsung should work hard to minimize business gaps”

The business community expressed regret that Lee Jae-yong, vice chairman of Samsung Electronics, was arrested in court on the 18th, and worried about the impact on the business community.

In particular, he said that Samsung’s lack of leadership, which played a pivotal role in overcoming the new coronavirus infection (Corona 19) crisis, would have a negative impact on the national economy, and that Samsung’s management gap should be minimized.

The National Federation of Entrepreneurs said in a statement issued on the same day in the name of Bae Sang-geun, “Vice-Chairman Lee led the drastic investment and job creation amid the coronavirus economic crisis, helping to support the Korean economy.” Revealed.

The FKI said, “Considering Samsung’s share of the Korean and global economy, we are concerned that the contraction of business activities according to the ruling will adversely affect the Korean economy as well as individual companies.” It can lead to delays and lag behind in global competition.”

He added, “I hope Samsung wisely overcomes this crisis and walks the path of continuous growth.”

The Korea Employers Federation also said, “We are very concerned about the realization of the Samsung Group’s management gap,” and “In a situation where economic uncertainty is greater than ever due to Corona 19, etc., a company representing Korea delays business decisions and investment due to a management gap. It is likely to be increased, and it is expected that adverse effects will be inevitable for the economy and industry as a whole.”

He added, “It is desperate for efforts to secure a competitive edge in new industries through active business expansion and technological innovation of our company,” he said. “We ask for the government’s policy and administrative consideration so that the Samsung Group’s management disruptions can be minimized in the future.” Revealed.

The Korea International Trade Association also said, “As Korea’s top export company leader, Lee Jae-yong played a central role in the Korean economy amid the coronavirus economic crisis,” and said, “The judgment of restraint is regrettable.”

In addition, “I am concerned that this ruling will adversely affect Samsung’s management disruption and Samsung’s credibility in the global market.” As such, he urged the government to pay much attention in the future so that the economic impact of this ruling can be minimized.

The Korea Listed Companies Association also commented, “I am concerned that it will adversely affect our economy.”

The listing cooperative said, “Not only Samsung Electronics’ external image and performance, but also the lives and deaths of numerous mid-sized and small and medium-sized business partners are at stake in the management uncertainty following the judgment. In the second half of 2020, Samsung Electronics’ semiconductor and home appliance The achievements of the back have been laid down.”

The Korea Chamber of Commerce and Industry did not make a separate position after the ruling of the arrest of Vice Chairman Lee Jae-yong.

Prior to this, Chairman Park Yong-man submitted a petition to the Seoul High Court on the 15th, asking for the election of Vice Chairman Lee.

Chairman Park filed a petition against entrepreneurs for the first time during his seven-year and eight-month term, saying, “Please give Lee a chance to take into account the negative impact on the national economy.”

Kim Ki-moon, the chairman of the Small and Medium Business Administration, and Ahn Kun-joon, the head of the Venture Business Association, also submitted petitions to the court, asking for the election of Vice Chairman Lee.

/yunhap news