Samsung Compliance Committee on Lee Jae-yong's Failed Appointment as Registered Director: "Result of Careful Deliberation"

On the 18th, Lee Chan-hee, Chairman of Samsung's Compliance Committee, met with reporters immediately after the regular Samsung meeting held at Samsung Life Seocho Tower in Seocho-gu, Seoul, and stated regarding the failure to appoint Lee Jae-yong, Chairman of Samsung Electronics, as a registered director, "It is the result of careful consideration taking into account various obstacles such as relationships with investors and judicial risks."

The chairman also explained, "I advised responsible management through the return as a registered director," adding, "This was because I wanted to convey the need for a channel to hear various opinions about Samsung and the voices inside the company hoping that the chairman would take the lead." He continued, "However, I believe the company has thought more deeply and made a careful decision."

Lee Chan-hee, Chairman of the Samsung Compliance Committee, is answering questions from reporters at the Samsung Life Seocho Building in Seocho-gu, Seoul. Photo by Yonhap News.

Chairman Lee said, "Various opinions were exchanged at today's meeting, and there was also a discussion on ways to continuously enhance Samsung's management transparency."

Regarding the prosecution's decision to appeal Chairman Lee's case to the Supreme Court, he said, "The prosecution must have had many considerations, but sometimes courageous choices are necessary for the country and the people," adding, "In this regard, there is some regret." He emphasized, "I fully trust the judiciary and hope that a swift and wise judgment will be made soon to create an environment where the economy can operate freely."

On the issue of a crisis at Samsung Electronics, he said, "I am not an economic expert, so I am unsure if my advice is appropriate, but I believe Samsung has the capability to overcome the crisis sufficiently." He also added, "There is a consensus both internally and externally that the crisis must be overcome, but how to resolve difficult domestic and international issues is an important task."

Regarding the necessity of a control tower, he said, "There are various evaluations to the extent that even within the Compliance Committee, no unified opinion has emerged on this matter," adding, "Personally, I think a control tower is necessary, but I believe the company will carefully decide how to operate it."

On whether there has been communication with Chairman Lee, he said, "We have not met separately, but much communication is taking place," adding, "Various opinions are being conveyed, and active discussions are underway within the company."

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