Monday, March 24, 2008

[Analysis] Samsung Group struggles with shattered image and decline in morale : Business : Home

The Hankyoreh, March 21, 2008: [Analysis] Samsung Group struggles with shattered image and decline in morale: Outcome of independent counsel’s investigation could further damage once much sought after corporate culture

"A senior executive of Samsung Electronics Co., the flagship of Samsung Group, says the company has been suffering from a shattered image and a decline in its corporate culture after allegations of slush funds and other corporate irregularities rocked the world’s largest maker of computer memory chips. Corporate culture is one of the core components, along with products and human resources, used to gauge a company’s competitiveness. In the wake of the scandal, and following an investigation by an independent counsel to look into the allegations, Samsung, which turns 70th aniversary on March 22, is struggling with things that it has never experienced.

The corruption scandal was seen as a great shock to Samsung employees, who take a great deal of pride in working at one of South Korea’s best companies. In one orientation session for new employees, questions about the slush fund scandal arose. Some young and talented employees have quit the company."

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