[Global Science and Technology Comprehensive Report] According to foreign media reports, shareholders may ask Samsung Prince Li Zaiyu to resign as a director of the company.

South Korea's Samsung Electronics Vice President and Samsung Prince Edward Lee, who was sentenced to 5 years in prison for bribery and misappropriation of public funds, remain members of the Samsung Group's board of directors. However, the recent calls for Li Zaiyan to step down have been higher, and the Samsung Prince may have been forced to resign.

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Seoul’s Central District Court ruled on August 25 that Lee Zai-yeon was sentenced to five years’ imprisonment for the establishment of the two subsidiaries by referring to his then-President Park Geun-hye’s prosecution of bribes of 8.9 billion won (equivalent to 52.11 million yuan). At present, Li Zaiyu has submitted the above-mentioned results of the first-instance judgment, and the case will be handed over to the higher court for second instance.

In October 2016, Li Zaijun joined the Samsung Electronics Board of Directors. At the time, Samsung was busy recalling the Galaxy Note7, which had hidden dangers. This appointment was seen by the outside world as a sign that Li Zaiyi will succeed his father Li Jianxi as the Samsung chairman. Li Jianxi has been hospitalized for treatment since the heart attack in 2014.

According to Wei Yingrui, a researcher with the Korean Economic Association’s “Economic Reform Association”: “According to common sense, Li Zaijun should resign from the company. However, he can always return to his original position after the prison term expires.”

According to listed company regulations, Samsung Electronics Group disclosed the salaries of four directors earlier this month. Wei Yingrui said that Li Zaiyu’s monthly salary is 159 million won (equivalent to approximately RMB 930 thousand), and the monthly salary of Samsung’s CEO Wu Yue in the first half of this year is 156 million won (equivalent to approximately 910 thousand yuan). He believes that Li Zai’s salary It is unreasonable to say that this is even higher than five.

The pressure to force Li Zaijun to resign from the board of directors was mainly from investors. Investors have been asking Samsung Electronics to implement a shareholder-friendly policy. Last year, Elliott Management, a US hedge fund, sent a letter to Samsung's board of directors recommending that it pay special cash dividends, adopt a holding company structure, and list on Nasdaq.

Despite the trouble of the third wife, Samsung Electronics broke the sales record. This is due in large part to the strong demand for memory chips in the international market. Samsung also announced that it will invest US$7 billion in the next three years to expand its NAND flash memory production line in Xi’an, China.

According to data from a market research company, Samsung is the world leader in memory chip manufacturing and holds a third of the global market share. Analysts said that with the development of artificial intelligence and the Internet of Things, the demand for memory chips will continue to rise. (Internship Compilation: Wang Zishan Reviewer: Li Zongze)

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November 11, 2022