Lee Chan-hee, Vice Chairman of Samsung Compliance Committee, "Will definitely conclude today on rejoining the Federation of Korean Industries"

Preliminary Remarks Before Attending the Interim Meeting Discussing Rejoining the Federation of Korean Industries

"Just as judges cannot avoid making rulings no matter how difficult a case is, I believe that the mission given to our committee must reach a conclusion today, regardless of the direction. We will definitely make a decision within today."

Lee Chan-hee, Chairman of the Samsung Compliance Committee, said this on the morning of the 18th before attending a temporary meeting of the Compliance Committee at the Samsung Life Seocho Building in Seocho-gu, Seoul, while speaking with reporters.

On the same day, the Compliance Committee held a temporary meeting following the one on the 16th to discuss whether five Samsung affiliates would rejoin the Federation of Korean Industries (FKI). Although the previous meeting discussed the rejoining of FKI, including timing and conditions, the committee members could not reach a conclusion due to differing opinions, prompting an additional temporary meeting.

Lee Chan-hee, Chairman of Samsung Compliance Monitoring Committee, is answering questions from the press before attending the temporary meeting of the Compliance Monitoring Committee held at Samsung Life Seocho Building in Seocho-gu, Seoul on the 18th. Photo by Kang Jin-hyung aymsdream@

Chairman Lee said, "Since the committee members come from diverse ideologies, backgrounds, and experiences, it seems to have taken time to unify many opinions," adding, "Since the last meeting until just now, the members have been communicating closely to try to reach a conclusion."

Regarding the possibility of conditional membership, he said, "Since nothing has been decided yet, the details of any conditions have not been determined," and "We will first review how the most important starting point will be handled."

Addressing criticism that the committee might be granting a pardon related to collusion between politics and business, he said, "The committee is concerned about that issue," and "I think the key point is whether we can truly break the chain of collusion between politics and business." He also said, "We are continuously considering whether the FKI can continue to operate as a link in this collusion or whether it can truly be broken and reformed."

When asked whether there is sufficient justification or grounds for rejoining, he replied, "Since no decision has been made yet, I have nothing to say," and added, "The committee will make a definite final decision today."

Meanwhile, the FKI will hold an extraordinary general meeting on the 22nd to approve amendments to its articles of association to change its name to the Korea Economic Association (KEA) and to merge its affiliated research institute, the Korea Economic Research Institute (KERI), into KEA. If Samsung and the other three major groups, which were members of KERI, do not express objections, their membership will automatically transfer to KEA.

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