"Must Address Lee Kun-hee's Negative Legacy... Hope Lee Jae-yong's Promise of a 'New Samsung' Comes True"

[Image source=Yonhap News]

[Asia Economy Reporter Wondara] The Democratic Party of Korea expressed its position on the news of the passing of Samsung Group Chairman Lee Kun-hee, stating, "We hope that the passing of Chairman Lee will mark the realization of a new Samsung."

Democratic Party spokesperson Heo Young said in a statement on the afternoon of the 25th, "Chairman Lee was a key figure who led Samsung's global leap and laid the cornerstone for the growth of the Korean economy," adding, "He was the most successful businessman in Korea and received dazzling spotlight, but his life was a tumultuous journey of glory and disgrace."

He continued, "As he said, Samsung aspired to be a top-tier company, but the process was sometimes extralegal," and added, "The negative legacies he left behind, such as preferential treatment for succession of management rights, unfair internal transactions, collusion between politics and business, and no-labor-union management, are timely issues that our society must resolve."

He also urged, "We hope that, with Chairman Lee's passing as a turning point, the ‘new Samsung’ promised to the public by Vice Chairman Lee Jae-yong in his recent public apology will be realized promptly."

Earlier, Democratic Party leader Lee Nak-yeon expressed his condolences on his Facebook post, saying, "I deeply mourn the passing of Samsung Group Chairman Lee Kun-hee," but also stated, "However, it cannot be denied that he had a negative impact by reinforcing the conglomerate-centered economic structure and not recognizing labor unions," and added, "He also left shadows such as opaque governance structures, tax evasion, and collusion between politics and business."

Leader Lee said, "The late chairman's innovative leadership and indomitable spirit of challenge should be emulated in any era and field. We hope Samsung will break away from its past mistakes and be reborn," and concluded, "Reflecting calmly on both the light and shadow of the late chairman, I offer my sincere condolences."

Chairman Lee passed away at the age of 78 on the morning of the same day at Seoul Samsung Hospital in Irwon-dong, Seoul. He had been battling illness for six years and five months after collapsing from acute myocardial infarction at his home in Itaewon-dong, Seoul, in May 2014. Samsung announced the news of his death on the same day and stated, "According to the wishes of the deceased and his family, the funeral will be held simply as a family funeral."