Seoul — Samsung Group, for decades the corporate champion of South Korea, is now facing a revolt at home. On Monday, hundreds of owners of Samsung Electronics Company’s fire-prone Galaxy Note 7 filed a class-action lawsuit demanding compensation. Hours earlier, a South Korean investment advisory firm recommended shareholders vote against Vice Chairman Jay Y Lee joining the board, in the strongest public opposition so far to the heir-apparent’s ascension. The twin setbacks come as the phonemaker grapples with the most serious crisis in its 47-year history, the debacle surrounding the global recall of a phone that’s been documented overheating and bursting into flame. That brouhaha has pierced the company’s aura of invulnerability at home, and could prompt greater scrutiny of a national champion that once could do no wrong. "Samsung may have become a bit too conceited over the years. A lot has happened that would never have happened at Samsung in the past," said Park Ju-gun, president...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now