Published : Nov. 6, 2012 - 20:44
Samsung Electronics chairman Lee Kun-hee’s 25th anniversary as chairman coming up early next month is expected to go by without much fanfare, despite this year being special for Samsung Group and the executive, industry sources said on Tuesday.
This is the first year Samsung’s brand value was among the world’s top 10 brands, as chosen by a world-renowned brand consultancy. Samsung Electronics also has posted record-high earnings on the back of brisk smartphone sales.
But the global company appeared uneager for big celebrations, mainly due to the uncertain political climate involving the upcoming presidential election in Korea. Many of the main candidates have issued policy pledges outlining plans for putting the conglomerates in their place with stringent new or revived regulations.
Under the circumstances, Samsung, a company targeted by many liberals including independent presidential candidate Ahn Cheol-soo, is unlikely to stage flashy ceremonies, inside sources said.
On Dec. 1, 1987, Lee Kun-hee became chairman less than two weeks after the death of his father, the late Samsung founder Lee Byung-chull.
It was under the junior Lee’s guidance that Samsung achieved its steady but dramatic transformation from a rugged, brick-and-mortar manufacturer to a cutting-edge high-tech company.
The year Lee Kun-hee took over, Samsung Group’s sales soared by more than 10-fold from 17 trillion won ($15.6 billion) to 274 trillion won.
In lieu of ceremonies for Lee’s 25th anniversary, Samsung is likely to place more emphasis on the group’s annual award ceremonies celebrating individuals who have shown the most talent and potential for progress within the company. Lee is known for taking part in the ceremony to shake hands and pat backs.
By Kim Ji-hyun (
jemmie@heraldcorp.com)