Samsung marked its 85th anniversary on the 22nd. This is the first anniversary since Samsung Electronics Chairman Lee Jae-yong took office in October last year. Samsung decided to quietly observe the day without any special commemorative events, as in previous years.
On the 22nd, Samsung will not hold a separate anniversary event. Since the dissolution of the Future Strategy Office in February 2017, the group has omitted group-level anniversary events, and this year it has decided to continue this policy of not holding such events.
Samsung's original anniversary date was March 1, the founding date of Samsung Sanghoe (now Samsung C&T), the group's predecessor. However, after the late Chairman Lee Kun-hee's declaration of the "Second Founding" in 1988, March 22 has been recognized as the anniversary date. Samsung C&T also decided not to hold any special anniversary events on this day, conducting only basic awards such as exemplary employee and long-service awards by business division.
Although this is the first anniversary since Chairman Lee's inauguration, Samsung is facing judicial risks, as he must attend weekly trials over allegations of accounting fraud and unfair mergers involving Samsung C&T and Cheil Industries. Therefore, the prevailing view is that Samsung will continue to refrain from holding separate anniversary events for the time being. However, while group-level anniversary events have disappeared, Samsung Electronics' 54th anniversary event is scheduled to be held on November 1.
In the business community, there is a growing trend to prioritize autonomous management by affiliates over formal group events, leading to a spread of the atmosphere of not observing group-level anniversaries. LG, which will mark its 76th anniversary on the 27th, has also decided not to hold any special commemorative events next month, except for granting substitute holidays to all employees on the 14th.
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