Samsung Compliance Monitoring Committee: "Lee Jae-yong's Apology Has Meaning... Prepare Improvement Measures" (Comprehensive)

Kim Ji-hyung, Chairman of the Samsung Compliance Committee, is presiding over the '1st Meeting of the Samsung Compliance Committee' held on the 5th at the Samsung Life Seocho Tower in Seocho-gu, Seoul. The Samsung Compliance Committee is an external independent organization established to eradicate illegal activities by executives and employees, including CEOs of major Samsung affiliates, and to strengthen compliance management. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Ki-min Lee] The Samsung Compliance Committee has expressed that Vice Chairman Lee Jae-yong's public apology holds "significance."

On the 7th at 2 p.m., the Samsung Compliance Committee held its 5th regular meeting at the Samsung Life Seocho Tower in Seocho-dong, Seoul, and through a statement said, "We meaningfully evaluate Vice Chairman Lee Jae-yong's direct response and his expression of will to realize the value of compliance."

The Compliance Committee stated, "We agreed that concrete implementation plans must be supported, such as establishing a sustainable management system that prevents violations of compliance obligations, effectively guaranteeing the three labor rights, and practical measures to restore trust in civil society," adding, "We requested affiliated companies to prepare more detailed improvement plans soon."

While positively evaluating Vice Chairman Lee's direct expression of remorse and promise of change, the committee emphasized that concrete implementation plans must back this up. Some civic groups and political circles criticized immediately after Lee's announcement, pointing out the "lack of specific implementation plans."

Earlier, in March, the Compliance Committee had demanded that Vice Chairman Lee directly state his position on ▲ management succession ▲ Samsung's no-union management ▲ strengthening communication with civil society ▲ and guaranteeing the Compliance Committee's activities regardless of Lee's trial.

In response, Lee held a press conference the previous afternoon, apologizing for past controversies regarding Samsung's management succession and announcing that he would not pass on management rights to his children.

Lee also declared the official abolition of Samsung's no-union management, which had been maintained for 82 years since its founding, pledging to uphold the three labor rights and promote labor-management harmony and coexistence. Furthermore, he pledged to strengthen communication activities with civil society and guarantee the Compliance Committee's activities regardless of his trial.

Meanwhile, the Compliance Committee's meeting on the day was divided into two parts. The first part discussed the committee's position on Vice Chairman Lee Jae-yong's apology statement from the previous day. The second part held a regular meeting related to internal transaction approvals and whistleblowing reports.

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