November 23, 2024

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[THE INVESTOR] Samsung Electronics Vice Chairman Lee Jae-yong is expected to return to the management of the world’s top provider of chips, smartphones and electronics this week, after coming back from a 16-day overseas business trip and after being released from jail in February. 

According to the industry sources on April 6, the Samsung heir seems to be making a comeback for putting Samsung back on track for new growth after about a year0long absence due to his involvement in the former president’s bribery scandal. 

Samsung Electronics VP Lee Jae-yong

Lee came back to Korea on April 5 from his first trip to Europe, Canada and Japan since he was released on a four-year suspension of a prison term of 2 1/2 years on Feb. 5. 

The purpose of the trip was to restore relations with foreign business partners whom Lee couldn’t meet in the past year while in prison and catch up on new technology trends, especially in artificial intelligence, according to Samsung. 

While Lee was reportedly in Europe, Samsung and the French government agreed to sets up a research center on AI in Paris in late March. 

He then moved to Canada to visit Samsung’s AI Lab in Montreal earlier this month. According to report, Lee sought expanding the research body by hiring new talents. 

Although the vice chairman didn’t comment on his plan for a management comeback upon his arrival at the airport, he is expected to make a drive for artificial intelligence across the business divisions at the electronics titan. 

Samsung officials asked for no exaggeration of Lee’s return from the latest trip. 

“Rather than calling it an ‘official return’ it would be better to say he’s ‘naturally back,’” said a Samsung official. “Since being released from jail, the vice chairman has been back in management, working in his offices in Suwon and Seocho.” 

Lee is likely to refrain from public appearances at home, while actively traveling to seek growth engines and new business opportunities for Samsung, the official said.

By Song Su-hyun/The Korea Herald (song@heraldcorp.com)