November 25, 2024
Samsung
Samsung’s reputation drops on heir’s arrest
[THE INVESTOR] Samsung Electronics reputation plunged in 2017 compared with the year before, industry data showed on Sept. 19.
According to the US-based Reputation Institute, Samsung’s ranking in terms of corporate social responsibility plunged 69 notches from 2016 to the 89th spot. The research covers companies’ governance structure, social influences and treatment of workers.
Samsung posted the sharpest on-year decline among the top 100 companies surveyed, the researcher added.
Industry watchers said the decline apparently followed the arrest of Samsung Electronics Vice Chairman Lee Jae-yong.
The complete removal of the Galaxy Note 7 from store shelves last year due to faulty batteries also adversely impacted Samsung‘s overall reputation, the institute said.
“The case shows that companies’ long-established reputations may collapse in a blink,” a business insider said. “Although the successful launch of the Galaxy Note 8 this year recouped shock from last year’s accidents to some extent, the future still remains cloudy due to the corruption scandal.”
By Alex Lee and newswires (alexlee@heraldcorp.com)
According to the US-based Reputation Institute, Samsung’s ranking in terms of corporate social responsibility plunged 69 notches from 2016 to the 89th spot. The research covers companies’ governance structure, social influences and treatment of workers.
Samsung posted the sharpest on-year decline among the top 100 companies surveyed, the researcher added.
Industry watchers said the decline apparently followed the arrest of Samsung Electronics Vice Chairman Lee Jae-yong.
The complete removal of the Galaxy Note 7 from store shelves last year due to faulty batteries also adversely impacted Samsung‘s overall reputation, the institute said.
“The case shows that companies’ long-established reputations may collapse in a blink,” a business insider said. “Although the successful launch of the Galaxy Note 8 this year recouped shock from last year’s accidents to some extent, the future still remains cloudy due to the corruption scandal.”
By Alex Lee and newswires (alexlee@heraldcorp.com)
