Wednesday, April 23, 2008

[The Hankyoreh (Editorial), 23 April 2008:] New beginning for Samsung

"As part of reform measures, Samsung Group Chairman Lee Kun-hee said yesterday that he will step down as the head of the nation’s largest business conglomerate. It is quite saddening to some to see one of the nation’s most influential business leaders bowing to the public as he announces his resignation. For Samsung employees, meanwhile, it must come as a shock. Samsung seems to have put a lot of thought into the reform measures, which include closing the group’s powerful strategic planning office. The conglomerate must want the measures to be regarded as “sincere” moves by its leadership. However, by the general standards of law and justice, Samsung must face quite a different reality as it didn’t mention anything about the core corruption scandals and fell short of demonstrating a strong will to revamp its current emperor-style management practices. They just seem to be trying to cover up their past wrongs via the resignations of some of their key officials, while continuing the father-to-son transfer of power and making little effort to provide a vision for its management in the future."

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