Samsung Compliance Committee Extends Lee Jae-yong's 'Public Apology' Deadline by One Month

[Asia Economy Reporter Hwang Yoon-joo] Samsung has requested an extension for the deadline of Vice Chairman Lee Jae-yong's public apology related to compliance, which was originally set for the 10th.

Accordingly, the Samsung Compliance Committee announced on the 8th that it has decided to extend the deadline for responses to the recommendation letters sent to Vice Chairman Lee Jae-yong and seven affiliated companies until the 11th of next month.

Previously, on the 11th of last month, the Compliance Committee recommended that Vice Chairman Lee Jae-yong reflect and issue a public apology regarding suspicions over Samsung Group's management succession and labor union issues, granting a 30-day period.

However, Samsung stated, "Due to the spread of the novel coronavirus disease (COVID-19) situation, it was inevitable that the schedule for discussing the recommendations was disrupted," and requested an extension of at least one month or more.

Samsung explained that the process of gathering opinions, meetings, group discussions, and board reporting is taking more time than expected.

Kim Ji-hyung, chairman of the Compliance Committee, said, "It is disappointing that Samsung could not meet the deadline," adding, "Although the circumstances are difficult, it is our duty to meet public expectations by deriving the best solution as soon as possible, even if it means advancing by a day."

Meanwhile, the Compliance Committee will hold a temporary meeting on the afternoon of the 21st for follow-up discussions.

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