Vice Chairman Lee Jae-yong, National Apology D-7... Will He Make a Statement This Week?

Samsung Compliance Committee Response Deadline by 11th
Expected to Announce Position on Management Succession and Labor Union Issues

Samsung Electronics Vice Chairman Lee Jae-yong, who has been indicted on charges including bribery to former President Park Geun-hye and 'shadow confidante' Choi Soon-sil, is attending the second retrial hearing at the Seoul High Court in Seocho-gu, Seoul, on the 22nd. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Dongwoo Lee] As the deadline for the public apology recommended by the Samsung Compliance Committee to Samsung Electronics and its major affiliates approaches in one week, interest in the timing and content is also increasing.

According to the business community on the 4th, it is expected that Samsung Electronics Vice Chairman Lee Jae-yong, the head of the group, will personally deliver the apology message recommended by the Samsung Compliance Committee.

Earlier, in March, the Compliance Committee recommended Vice Chairman Lee Jae-yong to issue a public apology reflecting on the allegations of management succession and labor union issues. The company requested about a one-month extension for further discussion. The deadline is until the 11th.

The business community expects that Vice Chairman Lee is likely to make the public apology personally between the 6th and 8th at the earliest, and at the latest by the final recommended day, the 11th. Since the timing has already been extended once, the possibility of an additional extension is considered low.

The main content of the public apology is expected to be condensed to the management succession and labor issues recommended by the Compliance Committee.

Regarding labor issues, since Samsung Electronics has recognized multiple labor unions and apologized for past allegations of union disruption at the group level, the business community anticipates that there will be mention of the declaration to abandon no-union management as requested by the Compliance Committee.

However, concerning the management succession issue, the prevailing view is that specific remarks will be somewhat difficult. Since trials and investigations related to this are currently ongoing, it is judged that making statements could influence the verdict, so it is expected to be limited to a general expression of regret.

Samsung is also known to be conducting multifaceted reviews regarding the timing and content of the apology, considering that the public apology could directly affect Vice Chairman Lee’s future management activities.

A business community official said, "Despite judicial risks, Vice Chairman Lee has been actively engaged in management activities, so the company is expected to coordinate the tone of the statements as much as possible to minimize any gaps in his leadership going forward."

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