Samsung Compliance Committee Chair Kim Ji-hyung: "The Compliance Committee is a Vaccine... Even If It Hurts and You Hate It, You Must Take It"

[Asia Economy Reporter Jeong Hyunjin] Kim Jihyung, chairman of the Samsung Compliance Committee, likened the committee to a vaccine one month before the end of his term, saying, "It may hurt and be unpleasant, but it is better to take it for health," and emphasized, "In Samsung, which breaks the law, neither 'value' can be bought nor 'people' can remain."

In his year-end message titled "I Have Laid One Stepping Stone," released on the 30th, Chairman Kim reflected on the committee's activities over the past two years and said that they had "laid a small stepping stone" for Samsung's compliance management.

Chairman Kim expressed gratitude to the first-term external members, including the late Ko Gyehyun, who passed away in August. He also recalled watching Vice Chairman Lee Jae-yong's public announcement to the nation on TV last May, saying, "It seems the memory will never fade." Regarding the retrial sentencing of the state affairs manipulation case, he stated, "I reread the judgment word by word several times, reflecting once again on the committee and reconsidering its duties."

Chairman Kim mentioned the phrase "healthy tension" as a concise expression of the relationship between the committee and Samsung, saying, "Vaccination is a preventive measure to protect health. A 'red team' that is not 'red' or a 'watchdog' that does not 'watch' is a vaccine with no efficacy."

He added, "It is everyone's hope who loves Samsung that the company shines longer as a bigger star in the world as a healthy enterprise," and said, "To achieve that, we must sell 'value,' not 'products,' and leave profits in 'people,' not just 'profits.'" He continued, "The compliance monitoring by the Compliance Committee is one path toward that hope," and added, "The first-term committee has only laid a small stepping stone on that path, and much work remains."

Kim, a former Supreme Court justice, will retire after completing his term in February next year. The next chairman is Lee Chanhee (56), former president of the Korean Bar Association. Kim evaluated the next chairman, saying, "He participated in the People's Solidarity for Participatory Democracy as a young lawyer, felt a sense of problem regarding corporate governance, and has steadily maintained interest. I think the company has brought in a good person, and he will lead the second-term committee well." He added, "My New Year's wish is for the Samsung Compliance Committee to remain independent and continue its sustainable core activities."

The Samsung Compliance Committee was launched in February last year following the retrial court's order for Samsung Vice Chairman Lee Jae-yong to establish an internal compliance monitoring system in the state affairs manipulation case. The committee is an independent organization that is not subject to Samsung's instructions in appearance, with seven major affiliates including Samsung Electronics, Samsung C&T, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Life Insurance, and Samsung Fire & Marine Insurance participating as signatories.

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