Lee Chan-hee, Vice Chairman of Samsung Compliance Committee, "Plan to Meet Chairman Lee Jae-yong Soon"

If Successful, First in 1 Year and 8 Months
First Meeting Since October 2022 2nd Regular Session
On Labor Issues: "Need to Exchange Awareness of Crisis"
On Hankyungyeop Membership Fees: "Persuasion and Understanding First"

Lee Chan-hee, Chairman of the Samsung Compliance Monitoring Committee (CMC), announced on the 18th that he plans to meet with Samsung Electronics Chairman Lee Jae-yong "soon."

Lee Chan-hee, Chairman of the Samsung Compliance Committee. Photo by Kang Jin-hyung aymsdream@

Before attending the 3rd CMC regular meeting held at the Samsung Life Insurance building in Seocho-gu, Seoul, Lee told reporters, "We exchanged opinions to meet as soon as possible, and we are also planning a meeting involving Chairman Lee and all CMC members," he said.

He added, "We are continuing very in-depth, honest, and more efficient conversations on various pressing issues."

If the meeting between Chairman Lee and the CMC takes place, it will be the first in about 1 year and 8 months. The meeting is expected to discuss issues such as the restoration of the group’s control tower and plans to improve governance.

Previously, then Vice Chairman Lee met with the chairman and members of the 2nd CMC for about an hour during the regular meeting on October 12, 2022. At that time, the CMC requested Chairman Lee to make efforts to prevent compliance risks and to pay attention to establishing a compliance culture within the company.

Lee also shared his views on labor unions. Regarding the "Samsung Electronics labor-management post-adjustment," he said, "The approach to labor-management issues has shifted significantly toward emphasizing communication," and added, "I believe that labor and management will exchange mutual understanding of the crisis Samsung faces and achieve good results."

The National Samsung Electronics Labor Union (Jeonsamno) has been negotiating with management since January but failed to narrow their differences. Subsequently, the union secured the right to strike after the Central Labor Relations Commission’s decision to suspend mediation and a member vote, and declared the first strike in Samsung Electronics’ history.

Labor and management resumed talks on the 13th, and on this day, they will hold the "1st post-adjustment meeting" at the Central Labor Relations Commission in Sejong in the afternoon. Some expect that the outcome of negotiations between Samsung Electronics and the union could be decided within this week.

Regarding Ryu Jin, Chairman of the Korea Economic Association (KEA), expressing expectations the day before about the payment of KEA membership fees by the four major groups, Lee said, "We have not yet formally discussed this as an agenda," emphasizing, "Since the organization operates on contributions from its members, the use of funds and the post-monitoring system must be clearly explained and understood by the members."

According to business circles, KEA reportedly sent official letters in April requesting payment of 3.5 billion KRW in membership fees from the four major groups (Samsung, SK, Hyundai Motor, and LG).

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