During a nationally televised press conference Wednesday at Samsung’s South Korean headquarters, the family-owned conglomerate’s heir and leader, Jay Lee, admitted the company “has not strictly complied with laws and ethics.”

Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...