Samsung's "prince" was sentenced to criminal punishment may be South Korea's financial crisis to be solved

2021-05-09

Reporter Shao Shaohui reports from Shanghai

The South Korean court made the first-instance judgment on August 25. Samsung Vice President Lee Jae-woon was sentenced to five years in prison for bribing the former President Park Geun-hye and his pro-Cui Shun. Earlier, the prosecutor of the ROK filed five allegations against Li Zaiyu, headed by bribery, and proposed to sentence him to 12 years imprisonment. The court held that all five of the allegations were guilty, but the penalty was applied to the lightest punishment. On August 28, Li Zaiyi’s defense lawyer filed an appeal on the verdict of first instance.

There is a possibility of amnesty

Gao Wei, director of the Global Family Business Research Center at the Wudaokou Finance School of Tsinghua University, told reporters in the 21st Century Business Herald that Li Zaiyu was specially called "it is possible."

Most of South Korea’s top treasury executives who were sentenced to jail have had special experience. Among them, Li Zaixi’s father, Li Jianxi, was indicted and sentenced in 1996 and 2008 respectively, but both were ultimately protected from jail by the president’s amnesty. In addition, Daewoo Group founder Kim Yu-chung, Hyundai Motor Co., Ltd. Zheng Mengjiu, SK Group Chairman Cui Taiyuan, and the former Sage Group President Li Zaixian, etc. were all sentenced to jail time.

Gao Ke believes that South Korea's industrial policy is tilted toward the big financial crisis, and Samsung's economic influence in South Korea is even more important. Compared with other chaebols, "Samsung is competitive in the world, which is very difficult for a Korean company."

“In addition, the dramatic changes in the domestic political environment in Korea have provided a very important political background for the acquisition of amnesties by the treasury executives,” Takasu added. “If for some time, Samsung’s development has dragged down South Korea’s economic growth. To the income and life of many people, they will have new political demands."

The absence of the helm

Samsung's stock price fell 1.43% on the day of August 25, and the Samsung Group’s core product Samsung Group’s initial fall was 2.95%. On August 28, Samsung Electronics continued to fall by 1.96%, and Samsung's property sales dropped by 3.37%.

Industrial Economic Analyst Liang Zhenpeng told 21st Century Business Herald reporter that the verdict would be a huge blow for Samsung. In addition to falling share prices, its brand image and the confidence of upstream and downstream business partners will also be seriously damaged. In addition, despite the fact that professional managers run the company, “the lack of actual rudder leaders has certain negative impact on the company's strategic development decisions and major industry investments.”

Liang Zhenpeng also introduced that Samsung Electronics currently faces many difficulties in its own business. “Samsung has strong competitiveness in the core components of mobile phones upstream, that is, chips, flash memory and screens, but in the area of ​​smart phones, Its advantages are shrinking." Liang Zhenpeng believes that in the Chinese market, Huawei, OPPO and VIVO brands are surpassing Samsung, and in the global market, Samsung's actual influence is also being challenged.

Speaking of Note7 spontaneous combustion incident, Liang Zhenpeng thinks this is not an accidental accident, but the accumulation of problems of Samsung mobile phone for a long time. "Samsung has some technical weaknesses that have not been resolved," Liang Zhenpeng said. "This is a serious consequence of Samsung's long-term neglect of these issues in the expansion of the smart phone field." Liang Zhenpeng believes that Samsung has a crisis, helm The absence of those will bring greater negative impact.

Gao Shuo analyzed the negative influence of Li Zaiyu’s incident on Samsung from the perspective of family industry inheritance. He believes that "inheritance is the most fragile moment for family businesses, and there are enormous uncertainties and risks in the process of inheritance. Samsung Note7 has a lot to do with the vacuum and absence of leadership in the process of inheritance." Gao Yu further explained that : "At the crucial moment of leadership change, the only male heir, Li Zaiyu, cannot replace his father to perform the functions of the president. This has a major adverse effect on Samsung."

Short-term impact is limited

For the future fate of Samsung Group, Gao Yu believes that he is still optimistic. He explained that Samsung’s talent base, financial foundation, and industrial layout are all very solid. “In addition to Li Zixi, the eldest son of Li Jianxi, there are two capable daughters Li Fuzhen and Li Shuxian who can foresee that they will inherit in the family business. China plays an important role; in addition, the Samsung Group's talented professional managers will also play an important role."

Gao Hao believes that unlike Li Jianxi’s father, Li Zai’s leadership style is “decentralization and letting go”. In recent years, he has mainly devoted his energy to completing major strategic decisions such as the new strategic planning and industrial layout of Samsung Group, such as entering biopharmaceuticals, divesting the sale of some non-core businesses, etc.; while Samsung’s specific operations management is mostly from the future. The strategy room and the professional managers team of various industrial companies are operating.

Gao Hao emphasized that one point to note when analyzing the impact of Li Zi’s imprisonment on Samsung is that Samsung’s manager team “is not a single person, but a group, which is very much in line with the US’s highly reliance on CEO’s corporate management model. different".

"Samsung attaches great importance to the construction of a talented team and has ample talent pool." He added, "Furthermore, the new strategic layout has been basically completed, and it will be based on ensuring that Samsung Electronics and other existing industries have an advantage. As the major strategic fulcrum for the next phase, pharmaceuticals have limited short-term impact when strategic decisions have been basically shaped."

The chaebol reform

The South Korean presidential palace, Blue House, said on the 25th verdict that the incident should be an opportunity to cut off the collusion between business and government. Huang Yongtai, the chief secretary of Chong Wa Dae, stated that the entrenched interest chain of political and business collusion has been hindering Korean social progress.

During his election campaign, Wen pledged to abolish the franchise privilege. On May 17th, it nominated Metalsurgel 9 as head of the departmental supervisory organization. The latter is one of South Korea’s hard-line “valve reformers” and advocated the establishment of a transparent and fair market system.

As for whether this judgment will become a signal to the South Korean government to rectify the chaebol, Gao Hao expressed negative opinions. He believes that Li Zaiyu’s incident is an isolated incident. The main reason behind it is that the anti-Pak forces need a most important witness card that can take the simple case of blessing. “The fact that Li Zai’s bribe is the prerequisite for the trial of Park Geun-hye. He is The political incident was implicated."

Gao Yu explained that “the formation of South Korea’s chaebol is a long-term result of the implementation of national industrial policies for decades” and that adjustment of industrial policies is a complex process that will have a major impact on the economy, politics, and people’s livelihood. “The new president must really Determination is not easy."

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