'Humanity Contribution as Corporate Mission' Lee Jae-yong Inherits KH Legacy... Samsung Accelerates Social Contribution

Late Chairman Lee Kun-hee's 'New Management Declaration' 30th Anniversary
Chairman Lee Jae-yong and Family Commit to Medical and Cultural Social Contributions
Providing Advanced Precision Medical Support Free of Charge to Children with Illnesses

On the 7th, the 30th anniversary of the New Management Declaration (Frankfurt Declaration) by the late Lee Kun-hee, former chairman of Samsung Electronics, will be observed. Through the New Management Declaration, Samsung Electronics pursued a major innovation. As a result, it has grown into a global company boasting a market capitalization of 429 trillion won. Lee Jae-yong, chairman of Samsung Electronics, has been continuing the legacy of the former chairman and working with the bereaved family to contribute to society.

Since the passing of the former chairman in 2020, Lee Jae-yong and the bereaved family have not sold inherited assets to prepare for inheritance tax exceeding 12 trillion won. Instead, they decided to donate about 60% of the inheritance to society in accordance with the former chairman's wishes.

In this process, 1 trillion won worth of inheritance was donated to prevent the spread of infectious diseases and to treat pediatric cancer and rare diseases. The former chairman emphasized the philosophy of ▲respect for humanity ▲coexistence ▲contribution to human society, stating during his lifetime that "it is the mission of a company to improve human health and quality of life."

Lee Jae-yong, Chairman of Samsung Electronics [Photo by Yonhap News]

Of the 700 billion won donated to overcome infectious diseases, 500 billion won will be used starting in 2027 to build the nation's first infectious disease specialized hospital, the 'Central Infectious Disease Specialized Hospital.' Two hundred billion won will be used to construct a state-of-the-art research institute for the National Institute of Infectious Diseases under the Korea Disease Control and Prevention Agency.

Among the remaining 300 billion won, 150 billion won will be used to support pediatric cancer patients, and 60 billion won will be allocated for children with rare diseases such as Crohn's disease. Nine hundred billion won will be invested in research to overcome pediatric cancer and rare pediatric diseases. Over the next 10 years, approximately 17,000 children, including 12,000 pediatric cancer patients and 5,000 children with rare diseases, are expected to receive support.

Established in 2021 with donations from the bereaved family, the 'Pediatric Cancer and Rare Disease Support Group' has been providing free genomic testing to pediatric and adolescent leukemia patients nationwide since last month, advancing precision medicine modeled after developed countries. Since September last year, it has started supporting testing fees not covered by health insurance for acute lymphoblastic leukemia patients at major hospitals nationwide.

Visitors viewing the exhibition at the "Lee Kun-hee Collection Special Exhibition: Monet and Picasso, Beautiful Moments in Paris," held last September at the National Museum of Modern and Contemporary Art, Gwacheon, Gyeonggi Province. /Gwacheon=Photo by Kang Jin-hyung aymsdream@

Samsung's social contributions have also been remarkable in the cultural field. Lee Jae-yong and the bereaved family have donated more than 23,000 artworks to national institutions. At the opening ceremony of the Leeum Museum of Art in 2004, the former chairman said, "Preserving cultural heritage is for the future of human culture" and called it "an obligation of our era."

The donated items have been exhibited to 1.63 million visitors through special exhibitions at major museums nationwide, including the National Museum of Korea and the National Museum of Modern and Contemporary Art, starting with the 'Park Soo-keun Museum' in 2021. In 2025, they will be exhibited at the Smithsonian National Museum of Asian Art in the United States, and in 2026 at the Art Institute of Chicago in the U.S. and the British Museum in London, UK. This is expected to be an opportunity to showcase the excellence of Korean culture to global audiences.

The late Lee Kun-hee, former Chairman of Samsung Electronics /
[Photo by Samsung Electronics]

The New Management Declaration refers to the remarks made by the former chairman on June 7, 1993, when he urgently convened executives at the Kempinski Hotel near Frankfurt, Germany. It is also called the Frankfurt Declaration. On that day, the former chairman demanded strong innovation, saying, "Change everything except your wife and children." He urged that for Samsung to compete in the global market, it must move away from quantitative expansion typical of developing countries and pursue qualitative growth. Since then, Samsung Electronics has risen to become the world's number one company in fields such as memory semiconductors and TVs based on its superior technology.