Seoul, Aug 27 (Ians) Ensuring compliance and ethics is taking root in the corporate culture within Samsung Group, its compliance committee chairman has said, as its management learned the lesson that it must pay a heavy price for unethical business practices.
“The culture of having a (potentially sensitive) issue reviewed by the compliance committee has been established within Samsung,” Chairman Lee Chan-hee said during an interview with Yonhap News Agency.
“I think management now believes abiding by the law is much more helpful in doing business. They paid a costly price for caving to short-sighted gain and political pressure,” he said.
Last week, the independent corporate compliance oversight committee recommended the group rejoin a business interest group that it withdrew from years ago amid a high-profile corruption scandal involving its de facto leader Lee Jae-yong and the ousted former President Park Geun-hye.
But the recommendation came with strings attached: Samsung should...
“The culture of having a (potentially sensitive) issue reviewed by the compliance committee has been established within Samsung,” Chairman Lee Chan-hee said during an interview with Yonhap News Agency.
“I think management now believes abiding by the law is much more helpful in doing business. They paid a costly price for caving to short-sighted gain and political pressure,” he said.
Last week, the independent corporate compliance oversight committee recommended the group rejoin a business interest group that it withdrew from years ago amid a high-profile corruption scandal involving its de facto leader Lee Jae-yong and the ousted former President Park Geun-hye.
But the recommendation came with strings attached: Samsung should...
- 8/27/2023
- by Agency News Desk
- GlamSham
Seoul, March 25 (Ians) Samsung Electronics Executive Chairman Lee Jae-yong is visiting China to attend the China Development Forum where Apple CEO Tim Cook is also reportedly present, according to sources.
Lee arrived in Beijing to attend the high-profile annual forum, slated to run at the Diaoyutai State Guesthouse from Saturday till Monday, reports Yonhap news agency.
The meeting will run under the theme of “Economic Recovery: Opportunities and Cooperation”, focusing on “opportunities in the Chinese market, stabilisation of global industrial chains, and green transition”, according to the organiser, the Development Research Center of China’s State Council.
Apple CEO Tim Cook, Pfizer CEO Albert Bourlaother and Ola Kallenius, Mercedes-Benz Group Ag’s chairman, are reportedly among the attendees.
During his visit, Lee was expected to meet with global and Chinese CEOs and high-ranking Chinese government officials.
The forum will take place amid mounting tension between Washington and Beijing after the...
Lee arrived in Beijing to attend the high-profile annual forum, slated to run at the Diaoyutai State Guesthouse from Saturday till Monday, reports Yonhap news agency.
The meeting will run under the theme of “Economic Recovery: Opportunities and Cooperation”, focusing on “opportunities in the Chinese market, stabilisation of global industrial chains, and green transition”, according to the organiser, the Development Research Center of China’s State Council.
Apple CEO Tim Cook, Pfizer CEO Albert Bourlaother and Ola Kallenius, Mercedes-Benz Group Ag’s chairman, are reportedly among the attendees.
During his visit, Lee was expected to meet with global and Chinese CEOs and high-ranking Chinese government officials.
The forum will take place amid mounting tension between Washington and Beijing after the...
- 3/25/2023
- by News Bureau
- GlamSham
Should it not be fair to say in the minds of every soul seeking out an existence lies even a modicum of conspiratorial curiosity? That, even in open defiance of logic and rationality, what we consider to be truth is nothing more than a cleverly constructed illusion propped up by some faceless organisation to keep what is truth oblivious to all but a select few? Conspiracies have been abound for time immemorial but, in an age of flippant misinformation and “alternative truth” lunacy, such flirtations have become politicized, weaponized, and, in at least one particular instance, treasonous. In Jang Joon-hwan’s insatiably riotous debut, far-flung craziness runs amok in the guise of Byeong-gu, a young man who believes it is up to him to Save the Green Planet from an imminent alien invasion; shockingly, he has his audience hanging upon his every word.
on Amazon by clicking...
on Amazon by clicking...
- 2/10/2023
- by JC Cansdale-Cook
- AsianMoviePulse
Las Vegas, Jan 8 (Ians) Samsung’s chief executive officer Han Jong-hee has said the company was still pursuing a merger deal, even though its efforts have hit a snag.
The tech company’s deal-making activities were only “delayed due to various external factors,” Han Jong-hee, vice chair and co-ceo at Samsung, said at the ‘CES 2023’ here.
Han cited the ongoing Russia-Ukraine war, China’s lockdowns, tensions between the United States and China, and other macroeconomic challenges as reasons for the delay over the last year.
Samsung has been eying a new M&a deal for years, reports Yonhap news agency.
At last year’s CES, Han said the company was extensively reviewing M&a opportunities in various industries.
“We are moving faster than you might think. We are open to every possibility, and I think we can deliver good news sooner or later,” he said at that time.
A year has passed,...
The tech company’s deal-making activities were only “delayed due to various external factors,” Han Jong-hee, vice chair and co-ceo at Samsung, said at the ‘CES 2023’ here.
Han cited the ongoing Russia-Ukraine war, China’s lockdowns, tensions between the United States and China, and other macroeconomic challenges as reasons for the delay over the last year.
Samsung has been eying a new M&a deal for years, reports Yonhap news agency.
At last year’s CES, Han said the company was extensively reviewing M&a opportunities in various industries.
“We are moving faster than you might think. We are open to every possibility, and I think we can deliver good news sooner or later,” he said at that time.
A year has passed,...
- 1/8/2023
- by News Bureau
- GlamSham
Seoul, Dec 24 (Ians) Samsung Electronics has held an opening ceremony for a research and development centre in Vietnam, in what the tech giant said is the largest such facility in the Southeast Asian country set up by a foreign firm.
“I expect the R&d centre to contribute to Vietnam’s industrial competitiveness and to the relationship between South Korea and Vietnam,” Samsung Electronics Executive Chairman Lee Jae-yong said at the opening ceremony in Hanoi, reports Yonhap news agency.
The ceremony was attended by Vietnamese Prime Minister Pham Minh Chinh, Science and Technology Minister Huynh Thanh Dat and senior Samsung executives, including Roh Tae-moon, president and head of mobile business at Samsung Electronics, and Choi Joo-sun, president and CEO of Samsung Display.
A total of 2,200 employees will work at the US220 million, 16-story R&d centre to research and develop software and technologies for mobile phones and other smart and network devices,...
“I expect the R&d centre to contribute to Vietnam’s industrial competitiveness and to the relationship between South Korea and Vietnam,” Samsung Electronics Executive Chairman Lee Jae-yong said at the opening ceremony in Hanoi, reports Yonhap news agency.
The ceremony was attended by Vietnamese Prime Minister Pham Minh Chinh, Science and Technology Minister Huynh Thanh Dat and senior Samsung executives, including Roh Tae-moon, president and head of mobile business at Samsung Electronics, and Choi Joo-sun, president and CEO of Samsung Display.
A total of 2,200 employees will work at the US220 million, 16-story R&d centre to research and develop software and technologies for mobile phones and other smart and network devices,...
- 12/24/2022
- by Glamsham Bureau
- GlamSham
Seoul, Dec 9 (Ians) Samsung Electronics will hold a company-wide global strategy meeting starting next week, industry sources said on Friday, amid stiff headwinds from the uncertain macroeconomic environment.
The company’s device experience division, which oversees the business of mobile phones and home appliances, will convene the meetings next Thursday and Friday, while the device solutions division, in charge of Samsung’s mainstay chip business, is said to hold the meetings around December 22.
Samsung executives will discuss how to navigate mounting challenges from the sluggish global economy, slowing consumer demand, geopolitical tensions and continuing spread of the coronavirus, reports Yonhap news agency.
Samsung, the world’s biggest memory chip maker, is expected to check the construction of a new 17 billion chip fabrication plant in Taylor, Texas, which Samsung plans to finish up by 2024.
Other major issues on the table include the long-term plans to boost its competitiveness in the system...
The company’s device experience division, which oversees the business of mobile phones and home appliances, will convene the meetings next Thursday and Friday, while the device solutions division, in charge of Samsung’s mainstay chip business, is said to hold the meetings around December 22.
Samsung executives will discuss how to navigate mounting challenges from the sluggish global economy, slowing consumer demand, geopolitical tensions and continuing spread of the coronavirus, reports Yonhap news agency.
Samsung, the world’s biggest memory chip maker, is expected to check the construction of a new 17 billion chip fabrication plant in Taylor, Texas, which Samsung plans to finish up by 2024.
Other major issues on the table include the long-term plans to boost its competitiveness in the system...
- 12/9/2022
- by Glamsham Bureau
- GlamSham
Seoul, Dec 5 (Ians) Samsung Electronics on Monday promoted a female executive to the president of global marketing for its mobile business, in the first move to tap a female talent for the top post.
Lee Young-hee was promoted to the president of the Global Marketing Center for Samsung’s Device eXperience (Dx) division that oversees its mobile business.
She is the first female president at Samsung, the country’s biggest conglomerate, to come from outside the founding family, reports Yonhap news agency.
Lee Boo-jin, the first daughter of late Samsung Electronics Chairman Lee Kun-hee, is currently serving as the president and chief executive of Hotel Shilla, a Samsung affiliate.
Lee Young-hee joined the tech giant in 2007 and was promoted to vice president in 2012. Previously working at L’Oreal, she is credited with successfully promoting the image and brand of Samsung’s Galaxy mobile phones.
Samsung expected the promotion to serve as...
Lee Young-hee was promoted to the president of the Global Marketing Center for Samsung’s Device eXperience (Dx) division that oversees its mobile business.
She is the first female president at Samsung, the country’s biggest conglomerate, to come from outside the founding family, reports Yonhap news agency.
Lee Boo-jin, the first daughter of late Samsung Electronics Chairman Lee Kun-hee, is currently serving as the president and chief executive of Hotel Shilla, a Samsung affiliate.
Lee Young-hee joined the tech giant in 2007 and was promoted to vice president in 2012. Previously working at L’Oreal, she is credited with successfully promoting the image and brand of Samsung’s Galaxy mobile phones.
Samsung expected the promotion to serve as...
- 12/5/2022
- by Glamsham Bureau
- GlamSham
Seoul, Oct 27 (Ians) Samsung Electronics new Chairman Lee Jae-yong called on employees on Thursday to rise up to challenges and to focus more on technology development.
“Now is time for us to mount more bold challenges. Our survival depends on future technologies,” he said in a message posted on the company’s internal forum soon after he was promoted to chairman of the tech giant, the crown jewel of the group.
“We can turn this crisis into opportunity… I will stand at the forefront” of the campaign to make Samsung a greater company “beloved” by consumers around the world, Lee said.
His promotion was endorsed at a board meeting earlier in the day, the company said, considering “an urgent need for stable management and leadership amid the deteriorating global business environment,” reports Yonhap news agency.
Lee started working at the tech firm in 1991 and was promoted to vice chairman in...
“Now is time for us to mount more bold challenges. Our survival depends on future technologies,” he said in a message posted on the company’s internal forum soon after he was promoted to chairman of the tech giant, the crown jewel of the group.
“We can turn this crisis into opportunity… I will stand at the forefront” of the campaign to make Samsung a greater company “beloved” by consumers around the world, Lee said.
His promotion was endorsed at a board meeting earlier in the day, the company said, considering “an urgent need for stable management and leadership amid the deteriorating global business environment,” reports Yonhap news agency.
Lee started working at the tech firm in 1991 and was promoted to vice chairman in...
- 10/27/2022
- by Glamsham Bureau
- GlamSham
Seoul, Sep 22 (Ians) British chip designer Arm is the talk of the town — again — in South Korea, as it emerged as Samsung Electronics’ potential merger and acquisition target.
Samsung Electronics Vice Chairman Lee Jae-yong said that SoftBank Group CEO Masayoshi Son will visit South Korea next month to talk about a potential partnership or a deal.
“When he visits, he might have some offer (regarding an Arm deal). But I am not sure,” he told reporters upon arrival at Gimpo International Airport from his two-week business trip abroad, without elaborating further.
His last stop was Britain, where the semiconductor and software design company is based, stoking years-old speculations that deep-pocket Samsung might be interested in buying Arm, to consolidate its position as a leading chipmaker and beef up its competitiveness further in the industry of growing strategic importance, reports Yonhap news agency.
But he did not meet Arm executives during his visit to Britain,...
Samsung Electronics Vice Chairman Lee Jae-yong said that SoftBank Group CEO Masayoshi Son will visit South Korea next month to talk about a potential partnership or a deal.
“When he visits, he might have some offer (regarding an Arm deal). But I am not sure,” he told reporters upon arrival at Gimpo International Airport from his two-week business trip abroad, without elaborating further.
His last stop was Britain, where the semiconductor and software design company is based, stoking years-old speculations that deep-pocket Samsung might be interested in buying Arm, to consolidate its position as a leading chipmaker and beef up its competitiveness further in the industry of growing strategic importance, reports Yonhap news agency.
But he did not meet Arm executives during his visit to Britain,...
- 9/22/2022
- by Glamsham Bureau
- GlamSham
Despite becoming famous on an international level just recently, though the huge success of “Squid Game” which also just netted him an Emmy, Lee Jung-jae has actually been popular in S. Korea for decades, having a career that started in the 90s, and came to include a number of the most successful blockbusters in the country, not to mention a couple of masterpieces. As a tribute to a great actor, and on the occasion of the Emmy, we decided to make a list of 10 of his works that definitely deserve a look, in chronological order.
1. An Affair (1998) by Lee Jae-yong
The story focuses on Seo-hyun, a late-thirties housewife who has a settled life, a successful architect husband and a loving son. Her day is a set of routines, which is all thrown into disarray by the arrival of Woo-in, her younger sister’s fiancé. When her sister misses her flight from LA to Seoul,...
1. An Affair (1998) by Lee Jae-yong
The story focuses on Seo-hyun, a late-thirties housewife who has a settled life, a successful architect husband and a loving son. Her day is a set of routines, which is all thrown into disarray by the arrival of Woo-in, her younger sister’s fiancé. When her sister misses her flight from LA to Seoul,...
- 9/14/2022
- by AMP Group
- AsianMoviePulse
Seoul, Aug 25 (Ians) Samsung Electronics said on Thursday it has successfully wrapped up a project with the Bill & Melinda Gates Foundation to develop a prototype toilet for the world’s poorest communities.
Samsung said it plans to provide licenses of patents pertaining to the project to developing countries during the commercialisation stage without receiving royalty fees.
The South Korean tech giant held a closing ceremony at Samsung Advanced Institute of Technology (Sait), its research and development arm, in Suwon, south of Seoul, for the Reinvent the Toilet (Rt) project that it participated in for the past three years at the request of the foundation.
Sait recently finished the development of core technologies for the toilet and developed a prototype for household use, the company said, adding that the toilet is “energy-efficient with effluent treatment capability,” reports Yonhap news agency.
The Rt Challenge started in 2011 by the Water, Sanitation & Hygiene programme...
Samsung said it plans to provide licenses of patents pertaining to the project to developing countries during the commercialisation stage without receiving royalty fees.
The South Korean tech giant held a closing ceremony at Samsung Advanced Institute of Technology (Sait), its research and development arm, in Suwon, south of Seoul, for the Reinvent the Toilet (Rt) project that it participated in for the past three years at the request of the foundation.
Sait recently finished the development of core technologies for the toilet and developed a prototype for household use, the company said, adding that the toilet is “energy-efficient with effluent treatment capability,” reports Yonhap news agency.
The Rt Challenge started in 2011 by the Water, Sanitation & Hygiene programme...
- 8/25/2022
- by Glamsham Bureau
- GlamSham
Seoul, Aug 19 (Ians) Samsung Electronics on Friday held a groundbreaking ceremony for its new semiconductor research and development (R&d) complex here, in a move to bolster its global leadership in cutting-edge chip technology.
The South Korean tech giant plans to invest around 15.06 billion by 2028 for the 109,000-square-meter complex within its Giheung campus in Yongin, 50 kms south of Seoul.
The envisioned facility is expected to help Samsung lead in areas of advanced research for memory and system semiconductors.
The ceremony drew some 100 Samsung executives and employees, including Vice Chairman Lee Jae-yong, who received a presidential pardon last week for his bribery conviction involving former ousted President Park Geun-hye, reports Yonhap news agency.
It marked Lee’s first public appearance after his pardon.
“We start a new challenge at the Giheung campus, where the first shoveling to build a semiconductor factory took place 40 years ago,” Lee said. “Let’s continue the tradition of technology-oriented,...
The South Korean tech giant plans to invest around 15.06 billion by 2028 for the 109,000-square-meter complex within its Giheung campus in Yongin, 50 kms south of Seoul.
The envisioned facility is expected to help Samsung lead in areas of advanced research for memory and system semiconductors.
The ceremony drew some 100 Samsung executives and employees, including Vice Chairman Lee Jae-yong, who received a presidential pardon last week for his bribery conviction involving former ousted President Park Geun-hye, reports Yonhap news agency.
It marked Lee’s first public appearance after his pardon.
“We start a new challenge at the Giheung campus, where the first shoveling to build a semiconductor factory took place 40 years ago,” Lee said. “Let’s continue the tradition of technology-oriented,...
- 8/19/2022
- by Glamsham Bureau
- GlamSham
Seoul, Aug 12 (Ians) Samsung’s Vice Chairman Lee Jae-yong was given a presidential pardon on Friday, in a move widely expected to help him consolidate his leadership and speed up business decision-making in the country’s biggest conglomerate.
The decision comes as the tech giant has been faced with intensifying global competition from smaller rivals, including those in China, and growing economic uncertainty from global inflation, monetary tightening and worries over an economic slowdown.
Earlier in the day, President Yoon Suk-yeol approved his first special pardons for Lee, Lotte Group Chairman Shin Dong-bin and 1,691 others on the occasion of the Aug. 15 Liberation Day anniversary. Yoon said the pardon was expected to help the country “overcome the economic crisis.”
Samsung heir Lee was sentenced to 2 1/2 years in prison in a bribery case involving former President Park Geun-hye and released on parole in August last year. His prison term officially ended July...
The decision comes as the tech giant has been faced with intensifying global competition from smaller rivals, including those in China, and growing economic uncertainty from global inflation, monetary tightening and worries over an economic slowdown.
Earlier in the day, President Yoon Suk-yeol approved his first special pardons for Lee, Lotte Group Chairman Shin Dong-bin and 1,691 others on the occasion of the Aug. 15 Liberation Day anniversary. Yoon said the pardon was expected to help the country “overcome the economic crisis.”
Samsung heir Lee was sentenced to 2 1/2 years in prison in a bribery case involving former President Park Geun-hye and released on parole in August last year. His prison term officially ended July...
- 8/12/2022
- by Glamsham Bureau
- GlamSham
Seoul, Aug 12 (Ians) South Korean President Yoon Suk-yeol on Friday granted his first special pardons to Samsung heir Lee Jae-yong, Lotte Group Chairman Shin Dong-bin and 1,691 others on the occasion of next week’s Liberation Day anniversary.
The government announced the pardons to be effective from Liberation Day on August 15, reports Yonhap News Agency.
Former President Lee Myung-bak had initially been widely expected to benefit from the pardons but was not included in the list.
Also excluded was former South Gyeongsang Province Governor Kim Kyoung-soo, one of the closest associates of former President Moon Jae-in.
The most prominent beneficiary is Samsung Electronics Vice Chairman Lee, the report said.
“I will work hard for the national economy,” Lee told reporters in front of the Seoul Central District Court upon the pardon announcement.
Lee is currently standing trial in a separate accounting fraud case involving the 2015 merger of Samsung affiliates.
He was...
The government announced the pardons to be effective from Liberation Day on August 15, reports Yonhap News Agency.
Former President Lee Myung-bak had initially been widely expected to benefit from the pardons but was not included in the list.
Also excluded was former South Gyeongsang Province Governor Kim Kyoung-soo, one of the closest associates of former President Moon Jae-in.
The most prominent beneficiary is Samsung Electronics Vice Chairman Lee, the report said.
“I will work hard for the national economy,” Lee told reporters in front of the Seoul Central District Court upon the pardon announcement.
Lee is currently standing trial in a separate accounting fraud case involving the 2015 merger of Samsung affiliates.
He was...
- 8/12/2022
- by Glamsham Bureau
- GlamSham
Seoul, May 30 (Ians) Samsung Electronics’ Vice Chairman Lee Jae-yong met with Patrick P Gelsinger, chief executive of chip-maker Intel in Seoul on Monday and discussed cooperation in the chip sector, Samsung officials said. At the meeting, the leaders of the world’s two largest chipmakers explored ways to collaborate in areas ranging from the next-generation […]...
- 5/30/2022
- by Glamsham Bureau
- GlamSham
In 1998, Lee Jung-jae was a 26 years old relative newcomer in the industry when he was cast in Lee Jae-yong’s debut feature “An Affair”. A relative success, it became the seventh highest grossing film of the year in Korea, propelling the young actor into the spotlight leading to a year later, when he’d win hearts and accolades in “City of the Rising Sun”.
“Good Person” is screening at Florence Korea Film Festival
The story focuses on Seo-hyun, a late-thirties housewife who has a settled life, a successful architect husband and a loving son. Her day is a set of routines, which is all thrown into disarray by the arrival of Woo-in, her younger sister’s fiancé. When her sister misses her flight from LA to Seoul, it falls upon Seo-hyun to show Woo-in around as he searches for houses for the soon-to-be-married couple. As the two spend their time...
“Good Person” is screening at Florence Korea Film Festival
The story focuses on Seo-hyun, a late-thirties housewife who has a settled life, a successful architect husband and a loving son. Her day is a set of routines, which is all thrown into disarray by the arrival of Woo-in, her younger sister’s fiancé. When her sister misses her flight from LA to Seoul, it falls upon Seo-hyun to show Woo-in around as he searches for houses for the soon-to-be-married couple. As the two spend their time...
- 4/14/2022
- by Rhythm Zaveri
- AsianMoviePulse
Seoul, April 11 (Ians) South Korea’s antitrust regulator said on Monday that it has given a warning against Lee Jae-yong, Samsung Group’s de facto leader, over allegations that he has submitted falsified data about the group’s affiliates. The chiefs of large business groups are required to submit to the Fair Trade Commission (FTC) every year […]...
- 4/11/2022
- by Glamsham Bureau
- GlamSham
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