Samsung's Lee humbles himself to visit a supplier

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Samsung's Lee humbles himself to visit a supplier

Samsung Electronics Chairman Lee Jae-yong, second from left, looks around a factory of DK, Samsung's home appliance parts supplier for 28 years, in Gwangju, Friday. [SAMSUNG ELECTRONICS]

Samsung Electronics Chairman Lee Jae-yong, second from left, looks around a factory of DK, Samsung's home appliance parts supplier for 28 years, in Gwangju, Friday. [SAMSUNG ELECTRONICS]

 
Lee Jae-yong, the newly-appointed executive chairman of Samsung Electronics, visited a long-time supplier of the company in Gwangju on Friday.
 
It was Lee's first official act since his promotion the day before, when he pledged to maintain public admiration for Samsung amid a myriad of challenges facing Korea’s largest company.
 
“We can do well only when our suppliers are doing well,” said Lee during a visit to a factory of DK, which has been supplying home appliances parts to Samsung Electronics since 1994. Headquartered in Gwangju, DK posted annual sales of 215.2 billion won ($151.1 million) last year, compared to 750 million won 28 years ago.
 
The Friday visit was the new chairman’s “first step heading toward a win-win future,” said Samsung Electronics in a release.
 
“We, Samsung, need to stand with our society,” said Lee in a message to employees posted on Thursday, which was a transcript of a speech made two days ago at a memorial ceremony for the late Samsung Electronics Chairman Lee Kun-hee, his father.
 
“We need to share what we have with our customers, shareholders, suppliers, and local communities, and grow together with them,” said Lee.
  
On Friday, Lee visited Samsung Electronics' Gwangju factory as well. 
 
Making a visit to a supplier right after being promoted “is almost unprecedented for an executive chairman of a conglomerate,” argued a Samsung Electronics spokesperson.
 
Lee was quoted by the spokesperson as saying “supporting local suppliers should not be considered an expense but a growth strategy” during a meeting.
 
In Korea, chairman is a symbolic title distinct from chairman of the board, which is a board position requiring shareholder approval. Lee is not currently a company director.
 

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]
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