Lee Chan-hee, Chairman of Samsung Compliance Committee, "I hope Vice Chairman Lee Jae-yong will be pardoned, and a decision will be made"

Samsung Compliance Committee Chairman Lee Chan-hee is delivering opening remarks at the 'Samsung Compliance Committee 2nd Term First Regular Meeting' held on the 14th at Samsung Life Seocho Tower in Seocho-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Kim Hyung-min] Lee Chan-hee, Chairman of the Samsung Compliance Committee, advocated for the necessity of a pardon for Samsung Electronics Vice Chairman Lee Jae-yong.

On the 3rd, before attending a meeting with the top executives of affiliated companies held at Samsung's Seocho office in Seoul, Chairman Lee told reporters, "If the top executives of the global company Samsung cannot properly manage the company due to trials, ultimately the people will suffer," adding, "Therefore, I hope a decision will be made according to the will of the people."

He continued, "Whether in politics or the economy, I believe we must follow the will of the people," and said, "The people hope that the national economy will develop and their lives will improve amid the very difficult economic situation following COVID-19."

When asked if his stance on the pardon could be seen as the position of the Compliance Committee, he replied, "Since this has been a matter of constant communication with the Compliance Committee members, I think there are no differing opinions overall. I believe the members share the same view as I do."

At the meeting, the Compliance Committee shared opinions on compliance management overall, including labor-management relations and governance improvement. The seven affiliated companies attending the meeting were Samsung Electronics, Samsung C&T, Samsung Life Insurance, Samsung SDI, Samsung SDS, Samsung Fire & Marine Insurance, and Samsung Electro-Mechanics.

Chairman Lee explained, "Regarding the launch of the second Compliance Committee, we will have candid discussions with the top executives about human rights, ESG (Environmental, Social Responsibility, and Corporate Governance improvement), and fair management, which have been discussed so far."

Regarding the issue of governance restructuring, he said, "I plan to have overall discussions with the top executives about how related discussions are progressing within Samsung and the Boston Consulting Group (BCG) report."

He also stated, "We plan to have frank talks about how to properly establish Samsung within a healthy tension between parties, and what kind of compliance management commitment Samsung has to grow further as a global company."

Regarding the schedule for a meeting between the Compliance Committee and Vice Chairman Lee, he said, "Since COVID-19 has not been completely resolved yet, we plan to meet soon once the situation settles. It seems both sides are ready to meet."

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