Samsung skips ceremonies to mark declaration reform

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Samsung skips ceremonies to mark declaration reform

Published: 06 Jun. 2017, 20:21

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