The need for responsible management emphasized, including the reconstruction of the control tower and the return of CEO as registered executives, ‘Lee Chan-hee, Chairman of the Samsung Compliance Monitoring Committee (hereinafter the Compliance Committee), stated, “Samsung is currently facing difficulties,” and diagnosed that “bold changes are needed for survival and growth.”‘,
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, ‘He argues that Samsung needs innovative governance structure improvements to practice responsible management, such as reconstructing the control tower for strategic decision-making and focus, removing barriers that hinder smooth communication within the organization, and bringing back the CEO as registered executives.’,
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Lee Chan-hee, Chairman of the Samsung Compliance Monitoring Committee (Compliance Committee), shares his thoughts while attending the first meeting of the 3rd term of the committee held at Samsung Life in Seocho Tower, Seoul on the 20th.(Photo=NNS),
, “The Chairman stated this on the 15th at the ‘2024 Annual Report of the Samsung Compliance Committee’ release event.”,
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, ‘He evaluated, “Samsung is at a crucial moment that requires a new change.” He further remarked, “Samsung is undoubtedly the largest company in Korea, but it is currently facing difficulties such as rapidly changing economic situations domestically and abroad that are hard to predict, the emergence of unions unprecedentedly, weakening of pride and confidence among members, recruitment difficulties, and technology leakage. Samsung must overcome all of these challenges and transform into a respected top-tier company, surpassing superficial excellence.”‘,
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, ‘The Chairman added, “Even in the midst of change, efforts should be made to maintain principles,” and emphasized, “Like how laws and precedents change according to the trends of the times, for survival and growth, management must boldly embrace change. If any declarations made by Samsung in the past do not align with the times, they must be boldly discarded.”‘,
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, ‘He advised, “Despite the fear of legal risks, we must confidently break away from them. Members need to instill the pride of being ‘Samsung people’ and the confidence that ‘we can do it’ once again.”‘,
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, ‘He stated, “For this to happen, innovative governance structure improvements are needed for practicing responsible management, including reconstructing the control tower for strategic decision-making and focus, removing barriers hindering smooth communication within the organization, and bringing back the CEO as registered executives. During this process, the committee will strictly fulfill its supervisory role with strict principles towards any potential breaches of legal compliance.”‘,
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, ‘On the other hand, the Samsung Compliance Monitoring Committee was established on January 30, 2020, to strengthen the compliance monitoring and control functions of Samsung affiliates independently and autonomously. Seven Samsung subsidiaries, including Samsung Electronics, Samsung C&T, Samsung SDI, Samsung Electro-Mechanics, Samsung SDS, Samsung Life Insurance, and Samsung Fire & Marine Insurance, participate in the operation of the Compliance Committee. The 2nd term of the Compliance Committee was launched in February 2022, followed by the 3rd term in February 2024.’,
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