LEE JAE-YONG MAKES PUBLIC APOLOGY

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Samsung Electronics Vice Chairman Lee Jae-yong made a public apology for the controversies surrounding the nation's largest corporate group, such as the succession of management rights and union-busting scandal. The nationally televised apology came at the recommendation of Samsung's legal compliance committee. Another noteworthy remark by the de-facto Samsung head was that he will not pass down managerial power to his children.

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​Samsung Electronics Vice Chair looked tense as he showed up for the press conference. Lee Jae-yong apologized over the fact that the globally respected conglomerate did not comply with laws and ethics.

[Soundbite] LEE JAE-YONG(VICE CHAIRMAN, SAMSUNG ELECTRONICS) : "Although Samsung has been lauded for being a top brand in technology and products, it has faced harsh criticism. This is my fault. I apologize."

He promised to be frank and brought up the topic of managerial power succession.

[Soundbite] LEE JAE-YONG(VICE CHAIRMAN, SAMSUNG ELECTRONICS) : "I was criticized for the Samsung Everland and Samsung SDS issues. A trial for corruption associated with succession is underway."

The de-facto chief used the six billion won inherited from his father to secure the management rights of the tech giant and was charged and tried for bribing former President Park Geun-hye and her associates. Lee said all the problems started from the succession issue. He then declared there will be no more controversy.

[Soundbite] LEE JAE-YONG(VICE CHAIRMAN, SAMSUNG ELECTRONICS) : "Only the highest level of management can guarantee Samsung's survival. I don't intend to pass down corporate managerial powers to my children."

But he did not mention the specifics and how he would bear responsibility for the controversies. This is why some call his apology a perfunctory one that lacks sincerity, and demand the vice chair takes legal responsibility.

[Soundbite] JEONG SEON-SUB(CEO, CHAEBUL.COM) : "He appears to be making this gesture to gain some leeway in his trials. He should be more specific so that people can feel the sincerity of this apology."

Lee was also criticized for just reading a prepared statement for about ten minutes and leaving without answering any questions when the session was supposed to be for issuing a public apology and holding a press conference.