Samsung Elec ensures business is as usual via chief message, compliance mtg
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Samsung Electronics Co.’s three chief executive officers – vice chairman Kim Ki-nam, president Kim Hyun-seok and Koh Dong-jin – delivered Lee’s message on internal bulletin.
Lee expressed his deep regret for placing heavy burden on employees due to his wrongdoing. “Just like you have been fully doing your part when Samsung goes through difficult times, I’d like to ask you to stay strong and become united to keep our promise to the people,” he said in the letter.
He also emphasized Samsung companies must fulfill their corporate duty to make investments, create jobs, and carry out their social responsibility at the same time.
The message comes amid anxieties of future investment plans at the country’s most valued company due to leadership vacuum.
Samsung’s law compliance monitoring committee separately on Tuesday convened its first meeting with CEOs of seven affiliates - Samsung Electronics, Samsung SDI, Samsung Electro-Mechanics, Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung SDS and Samsung C&T – to discuss ways to strengthen law abiding management.
The committee chair Kim Ji-hyung stressed the importance of meeting and communication, and Samsung Electronics vice chairman Kim Ki-nam vowed to make Samsung a respected business group by ensuring law observance, the committee said.
Business-as-usual also was manifested through investment plans.
The world’s largest chipmaker is planning to expand its chip making capacity in Austin, Texas, and Pyeongtaek in South Korea.
Lee decided not to appeal the court’s ruling last week that sentenced him 18 months in prison on Monday, the deadline for an appeal, putting an end to his indictment which began in February 2017. As he already served about a year of his sentence, he would be imprisoned until in July 2022, unless he is granted special presidential pardon or parole.
Samsung Electronics shares fell 3.02 percent from the previous session to end at 86,700 won on Tuesday.
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