MGT301A - Samsung Electronics Case Study - Business Assignment Help

Assignment Task

1. Description of organisation

Samsung is one of the biggest companies in Korea. Samsung is the company that creating and producing different products in the electronic market. Lee Byung-Chul started Samsung on March 1st in 1938. The company started as a grocery store with 40 employees. Samsung grew rapidly in 1947, they expanded the company to the Seoul which is capital city in Korea. However, they temporarily stopped their business due to the Korean war. After that, Samsung started the electronic industry in 1960. Samsung was founded Samsung Electronic on the 13th of January 1969 with a vision to inspire innovative technologies and products and enrich people's lives with designs and mission of the ability to meet its goals for producing quality products. It is for creating a new future which contributed to social prosperity (Alegre et al., 2018). After entering the electronics industry, it made a big leap through TV manufacturing and LCD. Furthermore, Samsung became the largest manufacturer of smart phone that companies with major partners in 2015 (Burris, 2020). Over the decades, the management that led to Chairman Lee Kun-hee and current vicechairman Lee Jae-yong has made Samsung a world-class company. Consequently, Samsung is one of the famous and biggest company about Smart phone and semiconductor. However, there are many ethical issues behind this big company.

2. Description of the ethical issue

In 2017, Korea had big scandal between global company “Samsung Electronics” and Korea former president Park Geun-hye. The gate showed that Korea's crony capitalism. This case became a factor in the impeachment of President Park Geun-hye in later. The Seoul High Court found that “Samsung Electronics” vice chairman Lee Jae-Young gave $7.8 million to Formal President Park Geun-hye.” Many people said that this bribe is for succession of management rights and Illegal management. Vice chairman Lee Jae-Young was convicted of bribing an associate of former President Park Geun-hye and Jailed for five years in 2017 (ABC news, 2017). Lee Jae-Young denied his wrongdoing, the sentence was reduced and suspended on appeal. After that, Global company “Samsung Electronics” vice chairman Lee Jae-Young sentenced to two-and-a-half years in prison over bribery and embezzlement (ABC news, 2021). This sentencing influenced many factors to Korean economic, society and global company “Samsung”. In court statement, Samsung’s Lee Jae-Young said, “I was deeply regretting that this case has created concerns across the society.” and “The company will renew our commitment to carrying out the role of a responsible corporate citizen and will avoid a recurrence of past mistakes.” Furthermore, Presiding Judge Jeong Jun-yeong said that “Ha has shown willingness for management with newly stronger compliance, as he as vowed to create a transparent company.” Ironically, in 2017, many Koreans expressed hostility toward Samsung. Moreover, the public wanted Lee Jae-young’s strong punishment and a strong sanction against Samsung companies. However, in 2021, many people want to absolve vice chairman Lee Jae-Young and Samsung's revival.

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