Lee Jae-yong's Public Apology: "No Illegal Activities, Will Not Transfer Management Rights" (Update)

Samsung Electronics Vice Chairman Lee Jae-yong (file photo) [Image source=Yonhap News]

[Asia Economy Reporters Changhwan Lee and Gimin Lee] Samsung Electronics Vice Chairman Lee Jae-yong issued a direct public apology on the 6th, stating that he failed to meet the public's expectations regarding management succession and labor union issues.

On the afternoon of the same day, Lee held a press conference at the Samsung Electronics headquarters in Seocho-gu, Seoul, saying, "I will ensure that no controversies arise in the future regarding management succession, and I will never break the law," adding, "I will focus solely on enhancing the company's value."

He explained, "I have received much criticism regarding the succession issue," and "Recently, I am undergoing a trial on bribery charges related to succession, and many of the issues surrounding me and Samsung stem from this."

Lee also stated, "I do not intend to pass on management rights to my children," and added, "The management environment is challenging, and I thought it irresponsible to mention succession before I was properly evaluated myself, so although I have wanted to keep this in my heart for a long time, I was afraid to disclose it externally."

He also apologized to those hurt by labor-management issues. Lee bowed his head and said, "Samsung has failed to meet the times regarding labor-management issues," and "Many employees are currently on trial related to Samsung Everland and the Service Union cases, and I deeply feel responsible and sincerely apologize to everyone who has been hurt by Samsung's labor union issues."

[Image source=Yonhap News]

He added, "I will make sure that the phrase 'union-free management' is no longer heard at Samsung," and "We will firmly guarantee the three labor rights and promote labor-management harmony and coexistence."

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