Top executives of Samsung Electronics have vowed to abide by the law ahead of the launch of an in-house anti-corruption committee, officials said Monday.
The firm’s three chief executives -- Kim Ki-nam, Kim Hyun-seok and Koh Dong-jin -- signed a compliance pledge at an event held in Samsung Digital City, Suwon. Other top executives also joined the pledge with their digital signature.
Samsung Electronics’ chief executives, Kim Hyun-seok (from left), Kim Ki-nam and Koh Dong-jin, sign a pledge of compliance at an event held in Samsung Digital City in Suwon on Monday. (Samsung Electronics)
They pledged to comply with local and foreign laws and company regulations, not to tolerate any violation of the law and to take the initiative to build a corporate compliance culture.
On the same day, Samsung Electro-Mechanics, Samsung SDS and Samsung C&T Corp. also held similar events. Samsung SDI, Samsung Life Insurance and Samsung Fire & Marine Insurance are also planning to join the commitment.
The compliance panel led by former Supreme Court Justice Kim Ji-hyung is slated to begin its work after concluding an agreement with Samsung’s seven affiliates this month and receive an official mandate through a board resolution.
The committee would look closely into bribery, fraud, risky external sponsorships and illegal internal transactions between affiliates as well as labor issues and management succession.
By Shin Ji-hye (firstname.lastname@example.org)