Samsung Electronics, First Founding Anniversary After Chairman Lee Kun-hee's Passing on the 1st of Next Month

Samsung Electronics Vice Chairman Lee Jae-yong is departing for Vietnam on the 19th through the Seoul Gimpo Business Aviation Center (SGBAC). Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics will celebrate its 51st anniversary on the 1st of next month. Attention is focused on what management message Samsung will deliver as it marks its first anniversary since the passing of Chairman Lee Kun-hee.

According to industry sources on the 29th, Samsung Electronics will hold its anniversary event on the 2nd of next month. Considering that the anniversary falls on a holiday, the event was initially planned to be moved up to the 30th of this month, but it was adjusted due to funeral procedures including Chairman Lee Kun-hee’s funeral and the Samuje ritual.

Samsung Electronics’ anniversary ceremony has traditionally been held with 400 to 500 employees attending, where the CEO delivers a commemorative speech.

Vice Chairman Lee Jae-yong, who had not attended the anniversary events or delivered separate messages since Chairman Lee Kun-hee collapsed in 2014, unusually delivered a video message last year on the 50th anniversary, saying, "Let’s create a '100-year company' to pass on to future generations through challenge, technology, and coexistence."

Although Vice Chairman Lee often raises management themes at official events, last year was the first time he directly addressed employees with a message.

However, Samsung officials explained that it is highly unlikely that Vice Chairman Lee Jae-yong will deliver a separate message on this year’s anniversary.

There are speculations that a special message from Vice Chairman Lee might be issued since this is the first internal event after Chairman Lee’s passing, but given the recent bereavement, the possibility is considered low.

Instead, President Kim Ki-nam and other executives are expected to honor the late Chairman Lee Kun-hee’s management philosophies such as 'New Management' and 'First-Class Principle,' commemorate his achievements in making Samsung a global top-tier company, and emphasize the determination to overcome crises in their commemorative speeches.

The ceremony itself is also expected to be drastically scaled down to fewer than 100 attendees in consideration of the novel coronavirus disease (COVID-19).