SME Community Welcomes Acquittal of Chairman Lee Jae-yong... Expects Economic Recovery

The small and medium-sized business community expressed its respect for the judiciary's decision and actively welcomed the Supreme Court's final acquittal of Samsung Electronics Chairman Lee Jae-yong.

On July 17, the Korea Federation of SMEs released a statement saying, "We expect that this verdict, which found Chairman Lee not guilty of illegal succession of management control, will allow Samsung to escape management uncertainty caused by judicial risks. As a result, we anticipate that Samsung will be able to make more active investments and create jobs, thereby making a significant contribution to the recovery of our economy."

The Federation added, "Amid fierce global competition in future industries such as artificial intelligence (AI) and semiconductors, Samsung's role and Chairman Lee Jae-yong's leadership are more important than ever for South Korea to secure its leadership. Since 2018, Samsung has contributed approximately 70 billion won to support smart factories in 2,300 small and medium-sized manufacturing companies, and has taken the lead in fulfilling its corporate social responsibilities and driving the future of the economy by supporting the globalization of competitive SMEs in sectors such as K-Food and K-Beauty."

The Federation also urged, "Going forward, we hope that Samsung will make even greater efforts to lead not only Korea's economic recovery but also the global economy, through proactive technology development, expanded investment, and win-win cooperation with 8.04 million small and medium-sized enterprises."

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