Samsung Group’s compliance committee chief reappointed

Samsung Group’s Compliance Committee Chairman Lee Chan-hee [Courtesy of Samsung Group’s Compliance Committee]

Samsung Group’s Compliance Committee Chairman Lee Chan-hee will continue to lead the committee into its third term starting next month, following his tenure in the second term.

On Wednesday, seven Samsung affiliates, including Samsung Electronics, Samsung C&T, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Life Insurance, and Samsung Fire & Marine, resolved in their respective board meetings to reappoint Lee as the committee chairman. External members – Kwon Ik-hwan, Kim Woo-jin, Yoon Sung-hye, Hong Eun-joo) were also reappointed, along with the appointment of a new internal member, Han Seung-hwan.

Han Seung-hwan, a graduate of Seoul National University with a degree in Political Science, has had a longstanding career within Samsung, serving in various roles such as vice president of Samsung Human Resources Development Institute and president of Samsung C&T’s Resort Division. Presently, he holds the position of president of Samsung Life Public Welfare Foundation.

The committee underwent a minor change in its composition, with the internal member, Seong In-hee, being replaced by Han Seung-hwan. All external members whose terms were set to expire have been reappointed.

The newly appointed and reappointed committee members will serve a two-year term starting from Feb. 5 in 2024.

The third-term committee, under the leadership of Chairman Lee Chan-hee, is anticipated to address critical tasks such as the restoration of a control tower for the ‘New Samsung’ initiative and improvements to Samsung’s corporate governance structure.

Reflecting on the achievements of the second committee, Lee said that “the second-term committee has focused on fair and transparent management, prioritizing human rights, and embracing an Environmental, Social, and Governance (ESG) management approach. We put significant effort into establishing a compliance culture centered around the working field.”

“The decision for reappointment by the affiliated companies is an acknowledgment of the accomplishments of the second-term committee and an endorsement to continue efforts in spreading a compliance culture,” he added.