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The legend of Samsung empire is about to turn over?

via:博客园     time:2020/10/29 13:54:10     readed:104

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Wen / Shushu

Source: lookout think tank (ID: zhczyj)

On October 28, the funeral ceremony of Li Jianxi, the late president of SamSung group in South Korea, was held in the form of family funeral.

Lee Jianxi died of illness on the 25th. What is the future of Samsung Group's business inheritance and future development, which has aroused the high attention of South Korean public opinion.

Korea's economic development is highly dependent on the head of the chaebol

One

Next one

Li Jianxi was hospitalized for acute myocardial infarction in May 2014. He has been receiving continuous rehabilitation treatment for six years. Recently, his condition deteriorated and his rescue failed.

South Korea's political, business and international community have expressed their grief. Entrusted by the president, Lu Yingmin, Secretary General of qingwatai, and Li Haosheng, Chief Secretary of economy, went to the memorial hall that night to express their condolence.

Li Jianxi was born in Daegu, South Korea, in 1942, the third son of Samsung founder Li Bingju. In his early years, he studied in Japan, and then went to George Washington University to study for an MBA. In 1967, Li Jianxi married Hong Luoxi, and they had a son and three daughters.

Under Li Jianxi's operation, Samsung has developed from a trading company to a world-renowned technology enterprise. Its subsidiaries include Samsung Electronics, Samsung TV, Samsung Fire and Samsung Life. Its business involves many fields, such as mobile phones, chips, electrical appliances and insurance. Koreans often say,

Let's look at the successors of the Samsung family.

李健熙长女李富真(左)、次女李叙显(右)。

Li Fuzhen, the eldest daughter of Li Jianxi (left), and the second daughter, Li Xuxian (right).

After graduating from Seoul University, his eldest son, Lee Jae Rong, went to Japan to study, and later received a doctorate in Business Administration from Harvard Business School. In 1998, Li married Lin Shiling, the daughter of Lin Changxu, President of elephant group, and divorced in 2009.

Li Fuzhen, the eldest daughter, is the president of Xinluo hotel. She married Ren Youzai, an ordinary employee, and got divorced at the beginning of this year. Li Xuxian, the second daughter, is a director of the Samsung welfare foundation. She married Jin Zaiye, the second son of Jin Bingguan, President of East Asia daily. Li Yunxin, the youngest daughter, graduated from Lihua women's University, but committed suicide while studying in the United States.

After the death of Li Jianxi, his only son and current Vice President of Samsung Electronics, Li zaireng, was regarded as a popular successor of SamSung group.

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It is reported that the total market value of the shares of Samsung Group under the name of Li Jianxi is about 18 trillion won. The legal successor of Li Jianxi will face inheritance tax of 10 trillion won (about 60 billion yuan). Even if it is paid in installments, the annual tax payment will exceed 1 trillion won.

According to the insurance law being promoted by the South Korean government, Samsung Life and Samsung fire can only retain 3% of the total shares of Samsung Electronics, and the remaining 400 million shares (worth about 20 trillion won) need to be sold. As a result, the structure of Samsung may change greatly.

Two

In South Korea, it is considered natural for the eldest son to inherit the family business. At that time, it was very rare for Samsung founder Li Bingzhe to abolish changliyou.

李健熙与他的妻子洪罗喜。

Li Jianxi and his wife Hong Luoxi.

In fact, Li Bingzhe was originally the successor of Li Mengxi, the eldest son of Italy. However, a case of smuggling saccharin raw materials changed the original succession layout and the life track of his three sons.

In 1962, Lee founded the South Korean fertilizer plant, Samsung was accused of importing white cement and other building materials for smuggling saccharin raw materials. In response, Lee's eldest son, Lee Meng-hee, argued that it was then President Park Chung-hee and Samsung

After he was released on bail, Li Changxi was dissatisfied with carrying a black pot alone, so he wrote a letter of accusation to qingwatai. Li Bingzhe identified Li Mengxi as the mastermind of the smuggling case and expelled him from his family. Only then did he decide to let his third son, Li Jianxi, succeed him.

In 1987, Li Bingzhe died, and Li Jianxi became the second president of SamSung group. When he took office, he said that he would lead Samsung into a world-class super first-class enterprise through self-discipline, technology and respect for human beings.

Since then, Li Jianxi has been in the center of the Korean business arena for a long time, and his words can set off a whirlwind in the whole business community.

In 1993, Lee proposed

Published by Lee Kin-hee in 2007

In 2010, Lee sent out

In 2012, he added

If Li Bingyi promoted Samsung to the business center of South Korea, Lee would lead Samsung to the world.

South Korean media reported that in the 27 years of Lee's helm, Samsung's total market value jumped from 900 billion won (about 5.4 billion yuan) to 318.8 trillion won in 2014, a sharp increase of 348 times. The proportion of Samsung Group's export volume in South Korea's total exports increased from 13% to 28%, doubling.

According to Interbrand 2020 survey, Samsung Electronics has a brand value of 62.3 billion US dollars, ranking fifth in the world.

Three

An iron plutocrat, a running president

In South Korea, it was very early

orgsrc=//img2020.cnblogs.com/news/66372/202010/66372-20201029000504399-1743875697.png

If Li Bingzhe promoted Samsung to be the business center of South Korea, Li Jianxi led Samsung to the world.

Samsung flourished in the military government period when officials and businessmen colluded with each other, and became bigger and stronger in the throes of democratization transformation. South Korea is short of resources, its market is narrow, and its economy is depressed after the Korean War. In order to realize economic independence, park Zhengxi's military government intervened strongly in the economy and adopted a development mode dominated by the government and centered on the chaebol.

Today, the advantages of this model are gradually declining, and the disadvantages are prominent, which brings negative effects to Korean economy and society. Samsung's

South Korea's president seems to be a powerful, but progressive, conservative forces are shifting. Because of collusion with the chaebol, successive presidents could not escape

In 1995, Lee said in public:

In 1996, Li Jianxi was found to have bribed former presidents Quan Douhuan and Lu Taiyu, and was sentenced to two years' imprisonment with a reprieve, but was granted amnesty the following year.

In 2008, Li Jianxi was sentenced to three years' imprisonment with a five-year suspended sentence on suspicion of illegal transfer of business rights and tax evasion. The following year, then President Lee Myung Bak granted him another amnesty on the ground of his application for the Pingchang Winter Olympics.

At the end of 2016,

In July of the same year, current President Wen Zaiyin visited India and met with Li Zaiyong, who attended the completion ceremony of the local Samsung electronics factory, to invite him

The high-profile participation of the criminals in the visit led to public criticism. In this regard, the response of Qing wa Tai is: the trial belongs to the judgment, and the work belongs to the work.

In South Korea, every president takes office, it needs financial valve to contribute to its national development strategy, and the policies formulated by the government also need the cooperation of financial valve enterprises. It can be said that the president has asked for more financial valves, and the balance of power has gradually tilted towards the financial valve.

Four

The successo

South Korea's chaebol enjoys a unique global presence

李健熙长子李在镕。

Li Zairong, the eldest son of Li Jianxi.

As early as 1995, Li Jianxi started the procedure of taking over the eldest son, donating 6.1 billion won to Li Jae Rong, who is studying in Japan. Two years after it was put into the stock market, the money rose to 53.6 billion won, which was used to buy low-priced convertible bonds of Aibao paradise and Samsung SDS with warrants.

At that time, the board of directors of epsilon acquiesced in the altruistic act of selling bonds at a low price. Only small shareholders of Samsung firmly opposed it. The transfer of convertible bonds at a low price is equivalent to transferring the wealth of shareholders to Li zaireng. It also infringes on the right of minority shareholders to purchase shares of Samsung Electronics, weakens their voting rights, and at least loses 96.9 billion won to Aibao paradise.

In 1998, Li became the largest shareholder in Aibao Paradise, which bought 3.44 million shares of Samsung Life. So far,

Li Zaiyong's wave of operations

Circular investment and cross holding are the biggest characteristics and chronic diseases of chaebol enterprises in South Korea. Through the cyclic contribution structure, the chaebol family can control the company.

In this regard, Wen Yin Yin government held high the banner of chaebol reform, and found that the moon Jae in the red collar was changed to a holding company system. According to the report of the Fair Trade Commission of Korea in April 2018, 85% of the problem of revolving capital contribution of chaebol enterprises has been solved in the past year. At first glance, this number is indeed a great progress, but it is a temporary cure rather than a permanent cure.

The key to the problem is that there is a major loophole in the holding company system

At present, the shareholding ratios of Samsung and Hyundai are 0.56% and 1.74% respectively. In LG, which has been converted into a holding company system, the individual shareholding ratio of the president to the group is 1.29%, GS is 1.43%, and SK is only 0.03%.

On the contrary, the shareholding ratio of the major chaebols in their subsidiaries: Samsung 44.87%, Hyundai 48.41%, LG 36.29%, GS 50.29%, SK 59.35%.

It can be seen that even if the chaebol's share holding rate of the whole company is reduced, it can still obtain the control of the whole group by holding a large number of shares of its subsidiaries. Therefore, no matter what kind of company structure, whether it is circulating capital contribution or shareholding company system, will not affect the interests of chaebol leaders.

Wen Zaiyin came to power for more than three years to promote the reform of the chaebol, but the reality once again proved that Samsung is indeed an unshakable existence in South Korea. Wen still hasn't realized

Five

The end of plutocracy?

In May, Li announced in a public apology that his children would not be allowed to inherit the right to operate. This is the first time that Li Zaiyong formally expressed his position on the issue of succession. Earlier, he said at a congressional hearing in December 2016

三星在韩国是难以撼动的存在。

Samsung is an unshakable presence in South Korea.

Li Hanxiang, a professor at the Business School of Koryo University, said Samsung needs to constantly correct its much criticized business problems and Reform in accordance with the advanced western business model. The largest shareholder of the group should lead the group to restructure its holding structure and carry out group operation.

In Korean society, chaebol is a unique existence with resource monopoly, surpassing administrative and judicial power and controlling public opinion. The chaebol's power, its concentration of economic power, is even called

First of all, in

Even if the chaebol is found guilty, it always follows

However, has the Korean economy developed as a result? It turns out that there is no empirical correlation between absolution and economic growth.

Second, the influence of chaebol on Korean media has to be observed.

Some conservative media in South Korea have repeatedly released Mr. Lee's alleged bribery probe in 2017

It can be said that if such worries come true, then it means that the problem is very big, because the future of South Korea's economy is hanging on a single chaebol enterprise; if the worry is unnecessary, it also shows that the problem is very serious. The media deliberately exaggerate the facts, and the chaebol's penetration of the media has destroyed the independence and neutrality of the media.

Third, the chaebol reform involves all aspects of Korean society, can be described as

The chaebol took advantage of its large and unfailing position

Finally, the author believes that the accumulated disadvantages of the chaebol system in South Korea belong to the typical grey rhinoceros risk. Due to its huge volume, potential risks are easy to be ignored. Although it has not occurred for the time being, it can be predicted that it will inevitably happen.

In recent years, South Korea's manufacturing industry is facing endogenous problems such as the loss of competitiveness. In addition, the world economy is slowing down, Sino US economic and trade frictions, Japan's export restrictions to South Korea and other external challenges. South Korea's economic growth is sluggish, the gap between the rich and the poor is widening, and the probability of economic crisis is increasing. In order to prevent systematic risk, chaebol reform is urgent.

However, chaebol is in Korean society

The accumulated disadvantages of the chaebol are like a black hole, which consumes a lot of social resources. No one knows how anyone will be trapped into the black hole. However, it is difficult to resist this inertial system until it is swallowed up or expected to be impacted by some external force.

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