There was no’applause passed’ at the shareholders’ meeting of Samsung Electronics.

At the regular shareholders’ meeting of Samsung Electronics held on the 17th, a debate arose over the rise of Samsung Electronics vice chairman Lee Jae-yong. Major agendas, such as reappointment of internal and external directors and audit committee members, all passed as the original proposal.

On this day, Samsung Electronics held the 52nd regular shareholders’ meeting with shareholders and institutional investors, including Vice Chairman Kim Ki-nam, Kim Hyun-seok, president of consumer electronics division, and Ko Dong-jin, president of IT and mobile divisions.

▶Approval of financial statements, including special dividend of KRW 1.07 trillion (KRW 1578 per share), etc. ▶Reappointment of outside and inside directors ▶Reappointment of members of the Audit Committee ▶Approval of the limit of remuneration for directors, etc. were all approved. Earlier, ISS, a global voting rights advisory body, recommended that Seoul National University professor Park Byeong-guk and Kim Jong-hoon, chairman of Keithwi Mobile, oppose the reappointment of outside directors, saying, “In the case of Kookjeong Nongdan by Vice Chairman Lee Jae-yong and the trial process, management control checks were insufficient.”

At the shareholders’ meeting on this day, there was a lot of debate about the move of vice chairman Lee Jae-yong, who is in custody. Some civic groups, such as the Solidarity for Participation and the Solidarity for Economic Reform, argued that “Vice-Chairman Lee has changed to part-time only in the form of attendance, but he still maintains his position.” However, other shareholders raised their voices, saying, “To strengthen the company’s competitiveness, shareholders must gather their will so that Vice Chairman Lee can return to management as soon as possible. Vice Chairman Kim replied, “We will consider the role of Vice Chairman Lee in determining global networks and future business, and make a decision by comprehensively reviewing the company situation and legal regulations.”

Questions about the semiconductor business also followed. Vice-Chairman Kim replied to the foundry, “The fair competitiveness and supply capability are comparable to those of global leading companies,” and “I will close the gap (with TSMC, the world’s No. 1) through efficient investment.” Regarding the shortage of semiconductor supply, President Ko Dong-jin said, “It is difficult to say that it is 100% resolved.” “The situation in the second quarter is a little problematic, but there will be no big setbacks as the heads of business units are struggling.”

On the other hand, about 900 people attended the shareholders’ meeting on the same day despite the spread of Corona 19. The grandmother, who replaced the 13-month-old baby shareholder, and an aunt (8), an elementary school student who said, “I bought two stocks for study at the recommendation of my mother,” came out to the shareholders and drew attention.

Instead of the chairman’s guidance that “I will pass with applause,” all agenda decisions were made by electronic voting. Immediately after voting, the number of stocks attended and the number of stocks in favor were displayed on a large screen installed in the center of the stage in real time.

An official from Samsung Electronics said, “We introduced an electronic voting terminal because we decided that’passing applause’ could give a feeling of rejection to the younger shareholders.”

Suwon = Reporter Hyungsoo Park [email protected]