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Samsung Electronics Vice Chairman Lee Jae-yong makes a public apology for the controversy surrounding his management succession at Samsung’s Seoul headquarters on May 6. (photo pool)

Following his public statement on May 6, Samsung Electronics Vice Chairman Lee Jae-yong is likely to play a bigger role in a wider range of areas. In a press conference on Wednesday, Lee placed particular emphasis on his role as the head of a “global corporation.”

Lee explained that he feels a “urgent sense of crisis” during the press conference, which was held at the Samsung Electronics office in Seoul’s Seocho District.

“The environment facing Samsung is completely different from before. Competition is intensifying, and the rules of the market are in rapid flux. The crisis is always beside us, and the future is unpredictable. That’s the urgent sense of crisis that I feel,” Lee said emphatically. The COVID-19 pandemic is one of several overseas factors that have created a crisis situation.

Amid such a crisis situation, Lee declared, his leadership is needed. “Whether we look at Samsung Electronics’ corporate scale or the characteristics of the IT industry, only the highest level of management, backed by expertise and insight, can guarantee our survival. Moving forward, Samsung must recruit the most talented people, regardless of their gender, their academic background, or even their nationality. I think that is the responsibility, and the mission, that has been entrusted to me. As long as I faithfully carry out that duty, Samsung can remain Samsung,” he said.

Lee’s emphasis on “innovation through talent” is consistent with the results-based executive appointments that the group made this past January. For example, Pranav Mistry, at the age of 39, became the youngest person to be promoted to senior vice president. Mistry is in charge of a Samsung think tank called Samsung Research America (SRA).

“While focusing on the areas in which we can do the best job, we will boldly tackle new business areas with unceasing innovation and technological prowess,” Lee went on to say, emphasizing Samsung’s role in the COVID-19 pandemic.

“Right now, I’m dreaming of a new Samsung that can make the jump to the next level. I want to bring more benefits to even more people,” Lee said. This echoed remarks made in Samsung Electronics’ briefing for investors about its first quarter earnings on Apr. 29: “As a leading company, we will expand our market share through technological innovation and timely investments.” Lee appears to have been emphasizing Samsung’s role as a “leading global company” at a time when many Korean firms are facing a crisis because of COVID-19.

By Song Chae Kyung-hwa, staff reporter

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