Samsung without Jae-yong Lee, the future business’Clock Zero’

[아시아경제 김흥순 기자] Jaeyong Lee

Samsung

Samsung
005930
|
Kospi

Stock Information






Present price
86,800


Compared to the previous day
200


Fluctuation rate
-0.23%


Volume
18,897,633


Full family
87,000



2021.01.20 13:43 Intraday (20 minutes delay)

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The future business of the Samsung Group, such as artificial intelligence (AI), 5G mobile communication, bio, and automotive electronic equipment, has also fallen into zero clock due to the vice-chairman’s legal restraint. This is because the lack of a total number of people to make important decisions has made it difficult to make large-scale investments or mergers and acquisitions (M&As). In the IT field where speed is vital, this is expected to be the biggest stumbling block, and there is concern about significant losses in the Korean economy, which has sunk due to the novel coronavirus infection (Corona 19).

AI, 5G mobile communication, bio, etc.
Large-scale investment and M&A all-stop

According to Samsung on the 20th, each of the major affiliates, including Samsung Electronics, decided to seek countermeasures following the arrest of Lee Vice Chairman. This is because, although he was in the absence of the chief executive, he decided not to set aside an acting chief executive officer who would serve as a central point in lieu of Vice Chairman Lee.

It is also impossible to report on major issues of the group. This is because Vice Chairman Lee is currently quarantined in his own living room in accordance with the corona 19 quarantine guidelines of correctional facilities, and general interviews have been suspended for at least four weeks. In fact, Samsung’s decision on major issues has stopped. A Samsung official said, “It is possible for a professional manager to take care of the business for each major subsidiary, but issues such as discovering future foods or making investments are difficult without the owner’s decision.”

In August 2018, Vice Chairman Lee announced the investment plan amounting to 180 trillion won, with AI, 5G, bio, and automotive electronic equipment as the four new growth engines, in an effort to develop into’New Samsung’. In April 2019, the company announced’Semiconductor Vision 2030′, and planned to invest 133 trillion won to become the world’s No. 1 in system semiconductor foundry (consignment production) by 2030. This is in line with the three new industries, such as semiconductor, future car, and bio, set by the government last year.

A Samsung official said, “It is not enough with the will to work hard to get the future business under way on track.” A business official said, “In the global IT field, the core issues of companies change every moment and the speed of change is very fast,” and “To predict and respond quickly, a network formed between the owners of IT companies is required, but this part has limitations in the professional management system I pointed out.

Will it affect Corona 19 probation?
Korean economy inevitable big losses

The government’s strategy to secure a COVID-19 vaccine using Vice Chairman Lee’s global network has also been halted. The government asked Vice-Chairman Lee to cooperate with the introduction of the vaccine, but it was canceled according to the results of the trial. The Samsung side acknowledged Lee’s overseas travel plans, but drew a line that “It is difficult to confirm whether there was a government request related to securing vaccines, regardless of the schedule of the group.”

Separately, Samsung has put its efforts in overcoming the damage caused by Corona 19 last year. A typical example is the case of urgent support of 30 billion won, including donations and medical supplies, and then providing a life treatment center for confirmed patients and dispatching medical staff from Samsung Seoul Hospital, Gangbuk Samsung Hospital, and Samsung Changwon Hospital. This decision was also a possible step by following Vice Chairman Lee’s quick decision.

Vice Chairman Lee said, “Samsung, which has grown with the support of the people, must share and be with our society in difficult times. We will do our best to help those who suffer from Corona 19 or are committed to overcoming the crisis.”

Reporter Kim Heung-soon [email protected]