[서울신문] The cause has weakened, but… Compliance activities do not stop

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▲ Samsung’s in-house management is inevitable
On the 19th, the Samsung flag hung in front of Samsung Electronics’ Seocho building in Seoul is fluttering in the wind. The previous day, Samsung Electronics Vice Chairman Lee Jae-yong was arrested in court at the ruling and repatriation of the Gukjeong Nongdan. The responsibility of the CEOs of each subsidiary has increased.
Reporter Park Ji-hwan [email protected]

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As the Samsung Compliance & Compliance Committee is judged by the court that it is “not effective,” there is a demand to reorganize the organization. In order to continue with meaningful activities, Samsung Electronics Vice Chairman Lee Jae-yong’s farewell trial for the destruction of’Kukjeong Nongdan’ is deepening concerns about how to improve the points pointed out by the court.

According to the Samsung Compliance Committee on the 19th, it is a policy to proceed with a schedule that was previously set apart from the vice-chairman’s court arrest that took place the previous day (18th). On the 21st of this month, a regular meeting is scheduled, and on the 26th, there will be a meeting with the CEOs of seven Samsung affiliates.

In the industry, it is true that the cause of the Compliance Committee has weakened, but it is not expected to cease its activities. Since Vice Chairman Lee has emphasized the role of compliance management several times through apologies to the public or concluding statements in court, he believes that he will not overturn this as if he was flipping his palm.

It is a view that the role of the Compliance Committee will still be necessary as social demands for compliance management are increasing day by day. Seoul National University Business Administration Professor Lee Kyung-mook said, “If you suddenly reduce the role of the Compliance Committee, you may be criticized for being blindfolded to lower the sentence of Vice Chairman Lee.”

The Compliance Committee is expected to review the issues pointed out by the Vice Chairman’s Destruction and Recall Judgment and reflect them in the operation. The judge said that there were only seven Samsung affiliates that have signed an agreement with the Compliance Committee, and that it is necessary to expand it. Some pointed out that the Compliance Committee should investigate allegations of illegal activities arising during the merger between Samsung C&T and Cheil Industries, and that there should be effective monitoring measures for the creation of borrowed shares and slush funds mobilized by executives and employees.

An industry official said, “It has not yet been on the agenda at the meeting of the Compliance Committee on the 21st, but opinions will certainly come and go on the judgment of the court.” It is highly likely to go.”

Reporter Jaehee Han [email protected]

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