Samsung VC Lee Jae-Yong could return to registered executive position

According to the latest report by Korean media, Samsung Electronics has hired an administration expert. And, the return of Samsung Vice Chairman (VC) Lee Jae-Yong to the position of Registered Executive is expected to accelerate corporate governance reform and ESG management.

The company last month appointed Oh Daniels, vice president of the IR team, according to Samsung Electronics Business report. This is the second-highest-ranking position in the Samsung Electronics IR team after Vice President Seo Byong-hoon.

After graduating from the Massachusetts Institute of Technology (MIT) in the United States, he served as Vice President and Executive on the ISS and BlackRock, where he worked for 20 years to rebuild corporate governance and protect management rights.

Previous to joining Samsung Electronics, he worked for the global consulting firm Murosodali. Muro Sodali is a consulting firm with offices in New York, USA, and London, UK. In the business world, VP Oh is expected to be involved in governance issues and ESG management at Samsung Electronics.

Some also say that this will continue the process of returning Vice Chairman Lee Jae-Yong to the registered authorities. If Vice Chairman Lee is pardoned or re-appointed after the new government comes to power, the way will be opened for him to become a registered executive.

Vice-Chairman Lee was released on parole in August last year, but was sentenced to more than $500 million for stealing wins or breach of trust, and is subject to ‘job restrictions’ under the Special Penal Code’s Improved Penal Code.

Because of this, Vice Chairman Lee received a series of apologies and lotteries in the business world.  Although Lee’s position as Vice President is ‘Vice President’, he still serves as a registered executive.