Samsung Subcommittee on Compliance Effectively 'Approves' Affiliate Membership Fee Payment to Hankyung Association
"Decision According to the Autonomous Judgment of the Relative Clause"
The Samsung Compliance Committee (Jun-gamwi) announced on the 26th that it has allowed Samsung affiliates to decide autonomously on the payment of membership fees to the Korea Economic Association (Han-gyeong-hyeop). This effectively amounts to an 'approval' decision.
The committee explained, "We have once again advised the affiliates to ensure that the membership fees paid to Han-gyeong-hyeop are not used beyond their original purpose, such as for collusion between politics and business, and to withdraw immediately if any violations occur."
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The Samsung affiliates that have joined Han-gyeong-hyeop include Samsung Electronics, Samsung SDI, Samsung Life Insurance, and Samsung Fire & Marine Insurance. These affiliates are expected to decide on the payment and timing of the membership fees after reporting to their boards based on the committee's recommendations.
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