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“Establishment of an emergency response strategy to conclude a battlefield-led merger of the United States”
“Establishment and implementation of plans to induce favorable media coverage”
“Over 4 days, 3.6 billion ad orders were placed … Critical articles were pressured”
Samsung Electronics Vice President Lee Jae-yong, who was brought to trial on suspicion of illegal succession of management rights, declared Samsung’s decision to induce favorable media coverage.
It turns out that the press, which wrote critical articles, was pressured to stop advertising and even demanded the removal of the editor-in-chief.
This is reporter Lee Jong-won.
[기자]In the process of promoting the merger between Samsung C&T and Cheil Industries, which led Vice President Lee Jae-yong to strengthen the dominance of the group, the biggest crisis occurred in late May 2015.
This is because, in a situation where the pros and cons were strict, the US hedge fund Elliott announced that it owned 4.9% of Samsung C&T shares and heard publicly that it was an irrational merger. .
In lawsuits like that of Vice President Lee, the process of establishing and implementing emergency response strategies led by the Office of Future Strategy is specified in detail.
A plan to induce favorable media coverage was also established and implemented at this time.
It is representative of the fact that he provided materials to attack Alliot to press employees and reporters who had established relationships through gifts and entertainment, and frequently asked to write articles.
As a result, Elliott, who opposed the merger, was described as a speculative force seeking only profit from the market, as “corporate hunters” and “predators.”
Around this time, Samsung also ordered an ad to delegate voting rights worth 3.6 billion won over four days, and was found to also exert pressure not to report articles pointing out the problems of the merger.
In particular, a representative of a free newspaper was investigated as having an article titled ‘Choi Ji-sung, my ankle to my tricks’ and was pressured to reduce or cut ads and endorsements unless the editor-in-chief was fired.
Celebrities were also mobilized to fill the major newspapers with friendly opinions.
The former chairman of the Fair Trade Commission, Noh Dae-rae, wrote and sent a contribution to the press and induced the media to be interviewed according to the content, and also requested interviews and discussion meetings criticizing Elliott from the president of the Korea Financial Investment Association at the time by Hwang Young-ki and later president of the Korea Advanced Development Forum by Son Byeong-du. This article was made.
The result of the prosecution’s investigation is that this distorted information was systematically reported to mislead both the general public and investors.
However, Vice President Lee’s position is not only unconvincing and unfortunate, stressing that he will reveal in court one by one why the prosecution of the indictment is unfair.
The announcements worth 3.6 billion won at the time of the merger were also intended to explain the purpose of the merger to shareholders and request the delegation of voting rights.
The extrajudicial battle has already started before the full-scale trial, with Vice President Lee Jae-yong’s first trial taking place on the 22nd of the following month.
This is YTN Jongwon Lee.
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