Voices of concern about business disruption such as semiconductor investment due to the absence of the total number of insiders
The problem of inheritance and employment restrictions must also be resolved.
On the 25th, Vice Chairman Lee and the Special Prosecutors Team Park Young-soo decided not to reapply on the ruling of the ruling on the repatriation of the Gukjeong Nongdan against Samsung Electronics Vice Chairman Lee Jae-yong.
Accordingly, Vice-Chairman Lee is imprisoned for 1 year and 6 months, minus the 1 year he has already served.
If Lee is not released in the middle through special pardons or parole in the future, Samsung Electronics will continue to be absent until July of next year.
Samsung, which had been shocked by the sentence of Vice Chairman Lee’s imprisonment, seems to have reinforced the emergency management system in earnest, centering on the President of Business Support TF Jeong Hyun-ho and the presidents of affiliates.
Since Samsung has been self-managing by subsidiaries since the dissolution of the group in 2017, it is expected that the day-to-day work will be decided by the president, and the part that requires the decision of the total number will be reported to vice chairman Lee Jae-yong.
Inside Samsung, however, voices of concern over business disruptions are emerging during the absence of the total number, which will last for up to one year and six months.
There are a lot of issues that require serious decision-making, but there are concerns that there will be a limit to Lee’s’outdoor management’ with only limited reports and information.
Right now, Samsung Electronics must make an investment decision for the P3 line in Pyeongtaek, which is expected to invest more than 30 trillion won.
The project is expected to begin construction and the scale of investment from the second half of last year, but it has been postponed due to Lee’s judicial risk.
As Joe Biden entered the US administration, whether or not to expand investment in the US semiconductor plant is also on fire.
While Intel is considering outsourcing foundries (consignment production of semiconductors) for some semiconductors, the time is coming when Samsung should make a decision to expand its plant in Austin, which is mainly for 14-nanometer (nm) facilities.
The industry believes that Samsung will have to decide whether to invest soon as the Biden administration is expected to come up with various “incentives” while pressing investment in U.S. companies based on policies to protect their own industries and create jobs, like the Trump administration. .
Foreign media are vigorously reporting Samsung’s investment plans.
Bloomberg Telecom said on the 21st (local time), “Samsung Electronics is investing more than 10 billion dollars (about 11 trillion won) to build a semiconductor factory in Texas, USA,” said “Samsung Electronics will manufacture up to 3nm chips in the future. “We are discussing to establish a possible factory in Austin.”
The Wall Street Journal (WSJ) also reported that “Samsung Electronics is considering investing $17 billion to build a semiconductor plant in Arizona, Texas or New York,” citing a source on the 22nd (local time). It looks like it is pressing.
Foundry rival Taiwan’s TSMC predicts a huge investment of up to 30 trillion won this year, and Samsung is also in need of a large investment.
TSMC is currently investing $12 billion to build a new 5-nano process foundry plant in Arizona.
Samsung Electronics also finished repurposed the site it purchased near the factory in December last year in preparation for the expansion of the Austin factory.
The business community, however, is questioning whether Lee will be able to make a timely investment decision amounting to tens of trillions of won, receiving only limited reports while in custody.
Samsung is currently spared, saying, “Nothing has been decided regarding domestic or foreign investment.”
In addition to the company’s current affairs, Vice Chairman Lee is also burdened with the burden of resolving the inheritance property inherited from Chairman Lee Kun-hee and the provision of inheritance tax resources in prison.
Vice-Chairman Lee’s inheritance tax payment deadline is until April, and in the meantime, the evaluation of inheritance properties such as stocks, real estate and art works, distribution of property and stocks among the bereaved family, and a plan for raising the inheritance tax, which is expected to exceed 12 trillion won, must be confirmed.
A Samsung official said, “In 2017, Vice-Chairman Lee was in prison, but only routine decisions such as the acquisition of Harman, which made the decision to take over before arrest, or the expansion of factories that had already been planned for investment, were possible.” “It will be difficult to make long-term decisions to secure.”
However, as the global market situation is rapidly turning, there is a high possibility that the plans will be revealed sooner or later regarding investments discussed before Vice Chairman Lee was re-bound.
As Vice-Chairman Lee’s sentence is confirmed, the problem of employment restrictions is also a homework to be solved.
Currently, Vice Chairman Lee Jae-yong is not allowed to work at Samsung Electronics for five years after the execution of the sentence is terminated in accordance with the Employment Restriction Regulations of the Act on Aggravated Punishment for Specific Economic Crimes (hereinafter referred to as the Special Economy Act).
Currently, the Civil Organization’s Economic Reform Solidarity argues that “if the decision of Vice Chairman Lee is confirmed, the Ministry of Justice should immediately request the Chairman of the Board of Directors of Samsung Electronics to dismiss Lee.”
Instead of waiting for the expiration to be released, the Ministry of Justice should demand the dismissal of vice-chairman Lee once the judgment is confirmed.
For this reason, there is a prospect that even’in-house management’ is restricted.
However, there are opinions that this is irrelevant to the restrictions on employment as Vice-Chairman Lee left the registered director at Samsung Electronics and worked without pay.
An official in the business community said, “As long as Vice-Chairman Lee is reinstated as amnesty or the employment restriction is not lifted with the approval of the Minister of Justice, the issue of employment restrictions can be controversial. This issue should also be addressed by Samsung and Vice-Chairman Lee. It’s a matter.
/yunhap news