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Concern is mounting over the possible economic impact of arresting the head of South Korea's biggest company.HONG KONG — Samsung, the giant maker of products as varied as cargo ships and smartphones, is one of the driving forces of the South Korean economy.Because of that, some observers say that the company could continue to run smoothly without Mr. If executives lower in the hierarchy are implicated, day-to-day operations could become complicated.
The charges were leveled at a tough time for the company, which was struggling in some of its core businesses while trying to break from its past and forge a new management culture.
Samsung’s Galaxy Note 7, intended to showcase its ability to innovate and challenge Apple for global smartphone supremacy, instead showed a propensity to burst into flames, and was recalled.
(Business Week,2006) In addition, Samsung has spend lot of money in sports for its brand image for example, for sponsoring in Olympic Games Sydney 2000, In Athens 2004 Olympic Games furthermore, Samsung also supported tools and distributed 14,000 cell phones during the games.
Afterwards, Samsung has joined Yahoo Company in strategic marketing.
Samsung set up its branding strategy by Chairman Kun Lee who planned to originate universal program to make Samsung to be an international brand in 1996.
For increasing its brand awareness in the world, Samsung paid budget to the investment in marketing and branding and it’s about US 3 billion.South Korea has a long history of pardoning the leaders of its largest family-run companies.Because of Samsung’s size, past efforts to penalize the company or its executives have been met with worries about the effect on South Korea’s economy. Lee’s problems could influence the company’s strategic decisions at a time of major challenges, such as how to bounce back from the debacle over its Galaxy Note 7.Samsung alone accounts for about 20 percent of South Korea’s exports. “It’s hard to convince shareholders and partners they are a hip Silicon Valley-style company when these charges show them to be a company run like a feudal dynasty.”Samsung is in effect a collection of widely disparate companies, each with an autonomous, professional management team.The country’s largest chaebols have faced legal battles and convictions in recent years, but these episodes often end with the industrialists receiving pardons. Samsung Electronics, the most important of those companies, is broken into high-functioning business units. Lee’s imprimatur could be delayed amid the distractions, said Mark Newman, an analyst at Sanford C. “I think that’s the thing you need to worry about: big decisions,” he said.South Korean prosecutors have requested the arrest of Jay Y.Lee, the Samsung vice chairman, for bribery linked to the corruption scandal around President Park Geun-hye.It makes Samsung to be a champion to international market with high-tech products.Later on in 1993 Samsung became the world’s best popular because of joined into the LCD industry.In 1969 it establish and developed the different business to electronic market that make Samsung flourish into the world’s leading electronic brand.Samsung became the leading electronic manufacturers in Korea by catering to the international market.