Chairperson Lee Chan-hee of the Samsung Compliance Committee noted that the corporations are now in a new environment regarding the amendments to the Commercial Act and the Yellow Envelope Law.
The Chairperson said in a meeting with reporters before the regular meeting of the third-term Compliance Committee held at Samsung Life Insurance's Seocho office on the 26th, "Since we do not yet know how the law will be enforced, both corporations and workers need a period to adapt to the new environment."
The Chairperson said, "Considering that workers have been in a weaker position in relation to corporations until now, I will keep an eye on how these laws will be enforced."
Regarding the future activities of Samsung Electronics Chairman Lee Jae-yong, who accompanied the economic delegation to the South Korea-U.S. summit, the Chairperson remarked, "It seems that engaging in activities necessary for the development of corporations is the most important thing."
On this day, the Compliance Committee will also discuss the accounting treatment of Samsung Life Insurance's affiliate stocks. Recently, issues regarding the accounting treatment of Samsung Life Insurance's ownership stake in Samsung Fire & Marine Insurance have been raised, primarily by the Korean Accounting Standards Board and the political sector.
The Chairperson stated, "Not only regular meetings but also irregular meetings have been held, and we have thoroughly reviewed several reports from the company. I plan to have a brief discussion in today's meeting just in case we missed anything."