Bowing in public apology, vowing not to pass the throne on to his children: The unprecedented things of Lee’s words to try to create ‘new Samsung’

Everyone can clearly see that technology billionaires are the “champions” in the battle against Covid-19 but perhaps no one can compare with Jay Y. Lee – the bright heir of Samsung Group.

South Korea’s largest corporation and its vice president are the most important factors contributing to one of the most successful Covid-19 control campaigns in Asia. Since March, Samsung has sent its doctors to virus hotspots, bringing many Korean engineers abroad on private jets, contributing nearly $ 39 million to global anti-epidemic aid and paying played a major role in speeding up the production of test kits with the help of health care professionals at the time of the Korean battle decision against Covid-19.

Samsung, the world’s largest manufacturer of memory chips, mobile devices, and electronic displays, has joined forces with other major corporations to help smooth the virus curve. However, for Prince Lee, this success came at a critical moment. Attempts to make a name for themselves in public were made just before the end – that is, Lee’s entire trial of bribery. He was accused of bribing two white horses and other gifts to get the help of deposed former president Park Geun Hye. Lee could face years of imprisonment.

This is a highly anticipated trial because it will be a measure of whether the Korean court actually erases many years of prejudice about being too dependent on the interests of businesses. It will also make clear the sensitive relationship between large domestic enterprises (often called chaebol) and the country’s government.

Create “New Samsung”

In May, Samsung’s 51-year-old heir convened a rare press conference to apologize for the company’s missteps on inheritance. He vowed that his children would never run the company, he pledged to do charity for society and praise the disease prevention efforts. “It gives me the opportunity to look back on the past. As a member of the business community, I feel a greater sense of responsibility. I am committed to creating a new Samsung that is commensurate with Korea’s national quality.” “.

That sudden announcement drew the support of the parties, and the president of the Fair Trade Council. However, some analysts say that the comments were “degrading” by Prince Lee because it took place as a purpose.

“Samsung has never done so much in the past. As Korea’s largest chaebol, the way they contributed to the nation in the Covid-19 epidemic and apologized for past mistakes is helping to appease the public. and improve the image of both the company and their heirs, “said Kyungmook Lee, a professor at Seoul National University.

That is extremely important because of the people ‘s deep suspicion about the judiciary of this country. Although President Moon Jae-in has vowed to remove chaebol’s great powers, after the first trial, Mr. Lee was released after just one year in prison.

The representative of Samsung emphasized that the main goal for the company’s contribution is to fight epidemics, keep safety and protect employees.

Polish the image

It is undeniable that Samsung is extremely important in the Korean economy. “Economic miracle” that Korea has been thanks a lot to the big names like LG, Hyundai or SK.

The largest of which is Samsung. This 82-year-old corporation is both a symbol of Korean industry. “Samsung is trying to regain its reputation to get a good result at the Crown Prince Lee trial,” an analyst said.

This time, Crown Prince Lee is winning. His approval rate in an independent survey is increasing.

A few small businesses also praised Vice Chairman Lee after receiving support from Samsung.

A local mask manufacturer, E&W, said that its output has increased by 50% after applying Samsung solutions in distribution and setup. Samsung also sent 10 experts to four test kit manufacturers to guide their engineers.

Lee’s approval rate in the survey conducted by Global Bigdata has increased in 2020 since the epidemic. But it dropped 9.77% in the two days after Crown Prince publicly apologized, down from the previous 16.37%. However, the negative views have dropped to 20.6% from 44.2%.

“Credibility is important. It’s clear that the image of Samsung and South Korea is improving.”

The most difficult challenge right now for Samsung is empowering and keeping their heirs free. Whatever the outcome of the trial, the public’s long-term awareness of chaebol from now on will be based on Vice Chairman Lee’s promise to create a new Samsung.

According to Bloomberg