Samsung Electronics Vice Chairman Lee Jae-yong, who was handed over to trial in the case of Gukjeong Nongdan, was sentenced to two years and six months in prison. The first criminal division of the Seoul High Court admitted the Supreme Court’s guilty judgment at the trial of the vice-chairman Lee, who was charged with bribery, etc. Samsung was faced with a situation of’absence of the general manager’ again after three years.
The court judged that the amount of bribery Lee handed to former President Park Geun-hye and others at 8.6 billion won was considered as’active bribery’ and’implicit infidelity’. Despite the reluctance to give money to the pressure of the political power, it was defined as the main culprit in the bribery case. At the same time, the Samsung Compliance Committee, recommended by the court, did not reflect it in the sentencing for failing to meet its effectiveness. It is also ignoring the earnest appeal of the business community to save the economy first by ignoring compliance management efforts such as strengthening morality and guaranteeing union activities that Samsung has shown so far. It is pointed out that even the courts were driven by public opinion and anti-business sentiment to make businessmen a political victim.
The ruling made it difficult for Samsung to make bold decisions such as overseas mergers and acquisitions (M&A) and entry into new businesses, and it was also difficult for new investments and recruitment. Amid the fierce global semiconductor war, it became impossible for the heads of large corporations to make bold and quick decisions. This could have a major impact on not only Samsung, but also the Korean economy in the face of an unprecedented economic crisis. This is why there is a high voice that Samsung should promptly resolve the’judicial risk’ and get out of the worst situation of arresting the head of the head. As the judges pointed out, the fact that Vice Chairman Lee and Samsung truly reflected and changed should be fully considered through judicial procedures in the future. If the unfortunate situation in which businessmen are sacrificed to the unreasonable demands of the political power cannot be drastically removed, the damage will eventually fall to the country and all the people.
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