Samsung Electronics Executives Pledge Compliance: "Adherence to Laws and Principles"

[Asia Economy Reporter Kim Hyewon] Samsung Electronics announced on the 13th that it held an internal compliance practice pledge ceremony to publicly demonstrate its commitment to compliance management.

At the event, Samsung Electronics executives including Vice Chairman Kim Ki-nam, President Kim Hyun-suk, and President Ko Dong-jin personally signed the compliance practice pledge, while other executives participated via electronic signatures.

The main contents of the compliance practice pledge consist of three items: to comply with all domestic and international laws and company regulations, to not overlook any illegal acts instructed or recognized, and to take the lead in establishing a culture of compliance within the company.

The company explained, "This pledge ceremony aims to establish 'compliance with laws and principles' as an organizational culture by having all executives, including the president group, express their will and determination to practice compliance management."

It added, "The fact that the president group and all executives pledged means strengthening internal controls so that those responsible for Samsung Electronics' various organizations must not make any decisions or take actions that violate laws and principles."

On the 13th, Samsung Electronics executives attending the 'Samsung Electronics Compliance Pledge Ceremony' held at Suwon Samsung Digital City signed the pledge. From the left in the photo: Kim Hyun-suk, President of Samsung Electronics; Kim Ki-nam, Vice Chairman of Samsung Electronics; Ko Dong-jin, President of Samsung Electronics. Photo by Kim Hyun-suk

On the same day, Samsung Electro-Mechanics, Samsung SDS, and Samsung C&T also held compliance practice pledge ceremonies for each company. Samsung SDI, Samsung Life Insurance, and Samsung Fire & Marine Insurance will sequentially join the pledge to promote the spread of a compliance culture.

Separately from this compliance practice pledge, seven affiliates including Samsung Electronics plan to sign an agreement on the establishment and operation of a Compliance Committee through their boards of directors within this month. Earlier this month, Samsung Group formed an independent external oversight body called the Compliance Committee.

The seven affiliates participating in the agreement will be supervised by the Compliance Committee to ensure effective compliance monitoring and control. The Compliance Committee will identify risks of compliance violations by top management and review high-risk issues such as external sponsorship expenditures and internal transactions, providing opinions to each company’s board of directors.

This content was produced with the assistance of AI translation services.