Samsung Compliance Committee Checks Validity of Compliance Control Standards... Receives Reports from Affiliates

[Asia Economy Reporter Jeong Hyunjin] The Samsung Compliance Committee (Compliance Committee) inspected whether the compliance control standards are functioning appropriately at Samsung Electronics and six other major affiliates.

On the afternoon of the 21st, the Compliance Committee held a regular meeting at the Samsung Life Seocho Building in Seocho-gu, Seoul, where it received and discussed reports from affiliated companies on the effectiveness evaluation results of each company's compliance control standards. This evaluation is conducted to check whether the compliance control standards established by affiliates under laws such as the Commercial Act are operating effectively, and the Compliance Committee receives evaluation results annually.

The Compliance Committee explained that in last year's effectiveness evaluation reports, the affiliates added standards to prevent compliance violations by top management, reflecting the committee's recommendations and the research service conducted by Korea University Corporate Governance Research Institute on 'Typology of Compliance Violation Risks by Top Management and Setting Evaluation Indicators.' They also added and supplemented standards to prevent compliance violations by corporate groups and overseas subsidiaries.

On this day, the Compliance Committee decided to hold an 'Expert Forum on Corporate Compliance Systems (tentative name)' next month and proceeded with related discussions. The Compliance Committee plans to announce specific details about the event soon. The next regular meeting of the Compliance Committee will be held on January 18 of next year.

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