Samsung Compliance Committee emphasizes securing transparency in TF activities… Responding to compliance risks

The Samsung Compliance Audit Committee had time to communicate with each TF head to respond to future compliance risks.

The Samsung Compliance Committee held a regular meeting at the Seocho Tower of Samsung Life Insurance on the 19th, with all the members present.

Prior to the meeting, the Compliance Committee held a two-hour meeting with the heads of the Business Support TF, the Financial Competitiveness Enhancement TF, and the EPC Competitiveness Enhancement TF for the first time since its inception. The meeting was prepared to prepare countermeasures for future compliance risks and to communicate with each other.

The Compliance Committee emphasized securing transparency and preventing conflicts of interest related to TF activities, and participants agreed on the importance of preventing the risk of violating compliance obligations in TF activities.

Regarding the recently controversial employment restrictions of Samsung Electronics Vice Chairman Lee Jae-yong, the requirements and scope of the employment restrictions are unclear, but in the process of proceeding with the relevant laws and regulations, it will be recommended to Samsung Electronics to prevent illegal acts from occurring. Said.

The Compliance Committee received reports on internal transaction agendas, reports and reports received from affiliates, and discussed ways to deal with them. In particular, the Samsung union delegation received a report on the facts and corrective measures from the compliance supporter of an affiliate in relation to the “suspect of illegal support to the labor-management council,” alleged at a press conference on the 22nd of last month. .

Seven affiliates, including Samsung Electronics, Samsung Electro-Mechanics, Samsung SDI, Samsung SDS, Samsung C&T, Samsung Life Insurance, and Samsung Fire, held a board of directors this month and appointed Professor Won Sook-yeon of Ewha Womans University’s administration department recommended by Chairman Kim Ji-hyung as a new member.

The new member of Won is an expert with rich knowledge and experience in the field of administration and regulation, and has served as a member of the Regulatory Reform Committee directly under the President, as well as evaluation and advisory committees in the Supreme Prosecutors’ Office, Ministry of Materials, Ministry of Justice, and Ministry of Personnel Innovation. Currently, he is active as an audit committee member of the Supreme Court. The Compliance Committee is expected to contribute a lot to the committee’s activities with new perspectives and suggestions for corporate compliance monitoring.

Meanwhile, the next regular meeting of the Compliance Committee is scheduled to be held at 2 pm on April 20th.