Yoon Jae-ho, Chairman of Gyeongbuk Chamber of Commerce, "Welcomes Lee Jae-yong's Acquittal with Open Arms"... Calls for National Support to Overcome Samsung Crisis

Yoon Jae-ho, Chairman of the Gyeongbuk Chamber of Commerce and Industry, on the 4th, “greatly welcomed the acquittal verdict in the appeal trial of Samsung Electronics Chairman Lee Jae-yong,” and urged, “Along with the company’s self-help measures, national-level support must follow to help Samsung overcome the crisis.”

In a statement released that day, Chairman Yoon said, “With the resolution of the ‘judicial risk’ that lasted for nearly 10 years since the political scandal, not only the Gyeongbuk business community but all citizens of the Republic of Korea can cheer and once again dream of a great leap forward for Korea.”

Yoon Jae-ho, Chairman of the Gyeongbuk Chamber of Commerce and Industry

Chairman Yoon said, “The Korean economy is fiercely competing in an unpredictable situation amid the US-China conflict, the tariff war triggered by Trump, and the emergency martial law situation. It is literally struggling with the expansion of uncertainties such as the Middle East war and concerns about stagflation caused by high exchange rates,” and added, “In such a rapidly changing environment, Samsung has suffered huge setbacks in major decision-making due to Chairman Lee Jae-yong’s judicial risk, but now that conditions have been created to focus on management, it is clear that the recovery of fundamental semiconductor competitiveness and the acceleration of new business entry through mergers and acquisitions will follow.”

Chairman Yoon continued, “To ensure that the ‘resolution of judicial risk’ leads to ‘overcoming Samsung’s crisis,’ both Samsung’s own self-help measures and national-level support must follow.”

He said, “The phrase ‘industrial soldiers and entrepreneurs are patriots’ is a catchphrase that I strongly shout as the chairman of the Gyeongbuk Chamber of Commerce. When I think of Korean patriots such as Yun Bong-gil and Yu Gwan-sun, who sacrificed their lives for our country’s independence, and Admiral Yi Sun-sin, who defeated the Japanese army, my heart is deeply moved. Then who are the patriots of today? Without a doubt, they are the ‘industrial soldiers and entrepreneurs’ who lead our country’s economy, earn foreign currency through exports, and create jobs.”

Chairman Yoon also said, “Samsung Electronics has made the greatest contribution to expanding Korea’s exports and trade surplus through semiconductors, mobile phones, and displays, as well as leading domestic job creation. In Gumi, since the start of mobile phone production in 1988, from the launch of Anycall in 1994 to the current Galaxy S25, it has made the greatest contribution to regional job creation and export expansion,” and added, “The overwhelming share Samsung Electronics holds in the Korean economy, and the semiconductor industry, which is the rice of our industry, as well as mobile, home appliances, and extending to bio and healthcare, have dramatically improved the lives of Korean citizens and greatly grown our economy to stand shoulder to shoulder with advanced countries. This achievement is comparable to the past achievements of Admiral Yi Sun-sin.”

Chairman Yoon said, “Now it is Samsung’s time, and the golden time has been regained. Samsung’s leap forward is a signal for the recovery of the Korean economy and guarantees a healthy tomorrow for our people. Once again, I wholeheartedly welcome Chairman Lee Jae-yong of Samsung Electronics being freed from judicial risk and able to focus solely on the company. It is time for all citizens to unite their strength so that Samsung can leap even further as the global number one company surpassing Apple, Google, and TSMC. As a citizen myself, I sincerely hope this turning point will lead not only to greater development of Samsung but also to the happiness of our people,” he expressed his thoughts.

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