Wednesday, September 30, 2020
Home Lead Story Samsung's New Compliance Committee to be Independent

Samsung’s New Compliance Committee to be Independent

Senior executives of Samsung Electronics have also been found guilty of sabotaging a labour union, which led to a prison term for the company's Board Chairman Lee Sang-hoon

Samsung Group’s new compliance committee will operate independently from the management to better monitor whether the South Korean top conglomerate complies with its own internal structure and related regulations, the committee’s chief has said.

“The compliance monitoring committee will be independently operated and be totally free from Samsung’s intervention as independence and autonomy are crucial,” former Supreme Court Justice Kim Ji-hyung told reporters in Seoul.

The new committee comes as part of Samsung’s efforts to recover its reputation tarnished by a series of scandals involving its top executives, including the group’s de facto heir Lee Jae-yong, Yonhap news agency has reported.

Kim said the committee will include six other outside advisers, including law professors and civic group leaders.

“The committee will even directly investigate lawbreaking acts,” Kim said, adding that the committee will also establish a system to receive tips on unlawful acts by top executives.

Samsung
The upcoming Samsung foldable phone is expected to cost around $1,000. Wikimedia Commons

Kim, considered a liberal judge, previously served as the head of a mediation committee to settle a long-standing dispute between Samsung Electronics Co. and its workers over the working environment and work-related disorders, including leukemia.

Samsung’s latest move also comes after a judge presiding over Lee’s bribery case ordered the conglomerate’s apparent heir in October to come up with measures to prevent Samsung from committing wrongdoings.

Also Read: Here’s Everything You Need to Know About Sugar Addiction

Lee was indicted in 2017 for giving bribes to a longtime friend of former President Park Geun-hye as he sought backing in succeeding his father Lee Kun-hee and securing the throne of Samsung Group.

Senior executives of Samsung Electronics have also been found guilty of sabotaging a labour union, which led to a prison term for the company’s Board Chairman Lee Sang-hoon. (IANS)

STAY CONNECTED

19,133FansLike
362FollowersFollow
1,779FollowersFollow

Most Popular

Jewelry: An Investment and a Sentiment

After a tough six months of pandemic (and continuing) wherein most of us were resigned to our homes and restrained ourselves from socializing, finally...

Is There Greater Risk of Heart Disease to Men than Women?

Over the years, multiple researchers have concluded that heart disease impacts men and women differently. It has been noted that in the younger age...

Knowing the Basics of Your Sneaker Shoes

Sneaker Shoes have taken over the world and how! Understandably so, because who would do not want to sport footwear that is not only...

Fusion Taking Over in Indian Kitchens

Owing to the pandemic, food consumption has become a cautious habit and people are highly conscious of what they are eating and where it...

Sean Toy Provides Rudimentary Overview of Nutrition

Nutrition makes up the second half of the exercise equation, with work and effort being the other, yet many who are committed to consistently...

Reviewing the Song ‘Bol re Dilli Bol’ by Kailash Kher

BY RADHIKA TANDON The song Bol re Dilli Bol, vocalized by Kailash Kher, is indeed a thought-provoking song that leaves you gutted to your core....

How To Become An Influencer On Angel Amplifiers

Marketing techniques and strategies are changing. With the advent of the digital age, brands and companies are also evolving, cruising towards online marketing. This...

Virtual ‘Deepotsav’ in Ayodhya Instead of Ram Lila

The Ayodhya administration has denied permission for Ram Lila in Ayodhya due to the coronavirus pandemic, however, the administration has started preparations to organize...

Recent Comments