Samsung skips ceremonies to mark declaration reform

Home > Business > Industry

print dictionary print

Samsung skips ceremonies to mark declaration reform

Korea’s top conglomerate Samsung Group appears unlikely to hold any high-profile events this week to mark the anniversary of a landmark declaration of reform, as its leader has been in jail over a corruption scandal that led to the ouster of former President Park Geun-hye.

On June 7, 1993, Samsung Group’s de facto head Lee Kun-hee pressed his employees to “change everything but your wife and kids,” as he sought to spearhead a new management strategy.

The announcement, dubbed the “New Management” initiative, has been considered a landmark event for Samsung’s businesses’ strategies.

Samsung celebrated the event in the past, but the anniversary has been more low-profile since 2014, when Lee was hospitalized after a heart attack.

Lee’s heir-apparent son Jae-yong was imprisoned this year amid allegations that he was involved in the corruption scandal. YONHAP

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)