Jaeyong

Samsung Electronics chairman Lee Jae-yong has been found not guilty in the case that was connected to the controversial merger of Cheil Industries Inc. and Samsung C&T Corp. These companies were merged in 2015, and it was alleged that Lee Jae-yong was involved in stock price rigging and accounting fraud to solidify his position and take control of Samsung Electronics. Lee Jae-yong has been acquitted of all financial fraud charges Earlier today, a court in Seoul acquitted Lee Jae-yong of the charges against him. He…

Samsung’s Lee Jae-yong is reportedly preparing to embark on a lengthy business trip to the USA. There, the Samsung leader is expected to meet with some of the tech industry’s most influential people and reinforce Samsung’s partner network while creating new plans for future business ventures. Industry sources (via Hankyung) say that Chairman Lee will accompany President Yoon Suk-yeol and fly to the United States this weekend at the earliest. Lee Jae-yong’s business trip is said to be scheduled to end in the second week…

Last updated: February 15th, 2023 at 16:42 UTC+01:00 Samsung’s Executive Chairman board membership was not among the topics of discussion during the company’s recent board of director meeting, held Tuesday. Lee Jae-yong joined the board of directors in 2016 but left in October 2019 when he was facing bribery charges connected to former President of Korea Park Geun-hye. Samsung’s board of directors held a meeting this week to set a date for this year’s general gathering. According to a company statement (via The…

The once-disgraced heir to the sprawling Samsung empire was on Thursday named top executive of its most important business, two months after South Korea's president pardoned him for embezzlement and corruption convictions.The board of Samsung Electronics, one of the world's biggest smartphone and chipmakers, confirmed Lee Jae-yong's formal ascent -- though he had already been de facto leader since his father's heart attack in 2014. Critics have said Lee taking the reins so soon after his year and a half in jail is yet…

Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year-on-year after a global economic downturn hit demand for consumer electronics. Earnings in the South Korean tech giant's crucial memory chips division dropped, the company said in a statement, adding that "demand for consumer products remained weak". Operating profit for July to September 2022 fell to KRW 10 trillion (roughly Rs. 58,100 crore), down from KRW 15.8 trillion (roughly Rs. 91,800 crore) for the same period last…

Samsung has just announced that Lee Jae-yong has been appointed as Samsung Electronics’ Executive Chairman. The board approved the appointment after the recommendation by current board chairman Kim Han-jo. The post had been vacant for the past two years since the death of former Chairman Lee Kun-hee. Samsung Group’s board said that the company needs stronger business accountability and stability during the current global uncertainties. Some reports claimed that there would be an inaugural speech by Lee Jae-yong on…

Last updated: September 21st, 2022 at 14:44 UTC+02:00 Samsung’s Lee Jae-yong will meet with SoftBank founder Masayoshi Son in Seoul next month. Mr. Son will visit South Korea’s capital city in October, and the media is questioning whether the meeting with Samsung’s leader might have anything to do with a possible acquisition of the British chip designer ARM. During an interview at the Seoul Gimpo Business Aviation Center earlier today, Lee Jae-yong confirmed that “next month, Son is expected to visit Seoul.” When…

Last updated: September 12th, 2022 at 06:51 UTC+02:00 World Expo 2030 is all set to debut in 2030, and Samsung, being one of the largest tech giants across the globe and a native of South Korea, wants the World Expo 2030 to happen in Busan, South Korea. Busan is going up against other venues, including Saudi Arabia’s Riyadh, Italy’s Rome, and Ukraine’s Odesa. Earlier this month, it was announced that Samsung Electronics Vice Chairman Lee Jae-Yong would be visiting Europe and the US this month. According to the…

South Korean president’s office announced today that Samsung Electronics Vice Chairman Lee Jae-yong will serve as the presidential envoy for the country’s bid to host World Expo 2030. He will join other high-profile business figures in the government’s campaign to host the prestigious event. Earlier reports claim that Lee plans to visit Britain later this month to promote South Korea’s bid to host World Expo 2030. SK Group chairman Chey Tae-won will visit Japan with the same goal. Other countries, including Italy and…

The heir and de facto leader of Samsung group received a presidential pardon Friday, the latest example of South Korea's long tradition of freeing business leaders convicted of corruption on economic grounds.Billionaire Lee Jae-yong, who was convicted of bribery and embezzlement in January last year, will be "reinstated" to give him a chance to "contribute to overcoming the economic crisis" of the country, Justice Minister Han Dong-hoon said.Lee — the 278th-richest person in the world, according to Forbes, with a net…