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Shortly after emerging from a second round of extensive questioning by an independent counsel over allegations of bribery and other shady dealings at the company, Samsung Group Chairman Lee Kun-hee said, "I will seriously consider changing the group's management and executives --including myself." When asked whether he would step down if he was indicted, Lee answered he ¡°will think about it.¡± He added that everything was his own fault and that he would take full responsibility, whether it be moral or legal.
The meaning and scope of Lee¡¯s ¡°change¡± of the corporate management structure and lineup remain unclear. Samsung officials said the comments do not mean either Lee or other high-ranking executives will resign; the comments had a broader meaning that the business conglomerate would be reborn by taking action if any wrongdoings are found to have been committed as a result of the independent counsel¡¯s investigation.
Some say the latest crisis facing Samsung is the worst for the conglomerate since its founder Lee Byung-chul saw his position threatened after being charged with smuggling saccharin in 1966. Many Koreans feel the biggest news-making events last year were the presidential election and the Samsung crisis. Right now, Korean society is split between those who want to see the investigation wrapped up quickly and settled and those who believe now is the chance to clarify all suspicions surrounding the conglomerate. The heated debate going on between the two sides shows just how important this situation is and just how worried Koreans are about the future of Samsung. But if Samsung views this situation as something that can be fixed later if it needs to be fixed, then those who are worried about Samsung will feel humiliated and those who have criticized the conglomerate will be enraged.
As it tried to contain the impact of the so-called ¡°X-Files¡± back in 2006, when audio tapes allegedly contained recordings linking Samsung with collusive ties to public officials, the conglomerate issued a statement to the Korean public and vowed to emerge as a company that serves the people. Samsung downsized its corporate restructuring office and changed its name to the office of strategic planning, and it vowed to make subsidiaries more independent in terms of management. Samsung donated W800 billion (US$1=W976) to society and even created a group that monitors the conglomerate¡¯s activities. But the reason why Samsung is faced with the same crisis is because it simply came up with short-term remedies just to get over its immediate concerns.
Many people, both within and outside the business community, claim that the most important thing is to ensure that Samsung¡¯s ¡°global management¡± network is not damaged and that the Korean economy is not impacted. If the entire Korean public is to be convinced of those concerns, then Samsung must demonstrate some serious soul-searching and intense will to make sacrifices in order to be reborn.
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