November 26, 2024

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Samsung Electronics Chairman Lee Jae-yong (Yonhap)

Samsung Electronics Chairman Lee Jae-yong is expected to head to Vietnam this week to celebrate the completion of the company’s new research and development center, according to industry sources on Tuesday.

Upon the meeting, sources say, the Samsung chief is also likely to hold a meeting with Vietnamese President Nguyen Xuan Phuc.

The ceremony is scheduled to be held on Thursday in Hanoi, with key officials of the Vietnamese government in attendance. In order to attend the ceremony, Lee cancelled his attendance at the weekly trial proceedings for the Samsung C&T-Cheil Industries merger.

Samsung, the largest foreign investor in Vietnam, kicked off the construction of the $220 million R&D center in March 2020. The center will be in charge of R&D for the company’s mobile devices, including smartphones and tablet PCs as well as software and hardware products, with some 2,000 people hired locally.

Built on 11,603-square-meters of land, the center would be Samsung’s largest R&D facility in Southeast Asia. The center is a 16-story building with three basement floors and the total floor area is 79,511 square meters, according to Samsung.

Lee’s trip to Vietnam comes after two years, when he visited the country to inspect the center’s construction site in 2020. During the trip, Lee also visited local worksites for Samsung Electronics and Samsung Display, and also met with Phuc, who was the then-prime minister.

Since Lee took the top position at the company in October, he has been actively meeting with his industry peers and embarking on overseas business trips to expand the company’s global presence.

Lee traveled to the United Arab Emirates earlier this month, where he inspected the Samsung C&T construction site of a new nuclear power plant and met with the kingdom’s de facto ruler Sheikh Mohammed bin Zayed Al Nahyan.

By Jo He-rim (herim@heraldcorp.com)