April 25, 2024
Samsung
Samsung Electronics quits FKI amid scandal
[THE INVESTOR] Samsung Electronics on Feb. 6 announced the withdrawal of its membership of the Federation of Korean Industries, as the nation’s top business lobby was blamed for its role in a snowballing corruption scandal that led to the impeachment of President Park Geun-hye.
According to a company statement, Samsung Electronics formally submitted a document of withdrawal to the FKI earlier in the day. Other affiliates of Samsung Group are expected to follow suit.
The move has been widely expected as Samsung Group’s de facto leader Lee Jae-yong told lawmakers during a parliamentary hearing in December that the group would leave the FKI.
(theinvestor@heraldcorp.com)
According to a company statement, Samsung Electronics formally submitted a document of withdrawal to the FKI earlier in the day. Other affiliates of Samsung Group are expected to follow suit.
The move has been widely expected as Samsung Group’s de facto leader Lee Jae-yong told lawmakers during a parliamentary hearing in December that the group would leave the FKI.
(theinvestor@heraldcorp.com)
![[KH Explains] Korean shipbuilding stocks rally: Real growth or bubble?](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=151&simg=/content/image/2024/04/25/20240425050656_0.jpg)
![[Hello India] Hyundai Motor vows to boost 'clean mobility' in India](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=151&simg=/content/image/2024/04/25/20240425050672_0.jpg)
