The South Korean government announced the “Liberation Day” pardon list. Among them, Lee Jae-yong, vice chairman of Samsung Electronics and head of Samsung, was granted amnesty and reinstatement, which means that Lee Jae-yong was granted amnesty. Lee Jae-yong is entitled to succeed his late father as the head of Samsung.
According to a report by Yonhap News Agency today citing South Korean financial sources, Lee Jae-yong will return to the front line of management by attending the groundbreaking ceremony of the R&D park at the warehung park in Yongin, Gyeonggi Province on the 19th. The R&D center groundbreaking ceremony is Lee Jae-Yong’s first public trip after his return to power, where he will meet with Samsung Electronics’ president in charge of the semiconductor division, Kyung Gye Hyeon, and other senior executives.
According to Yonhap News Agency, this is the first time that Samsung Electronics has built a new R&D center in the country after 8 years since 2014, and the R&D center will be in charge of NAND flash memory, foundry, system chips and other new technology development. Yonhap News Agency predicted that Lee Jae-Yong will use the groundbreaking ceremony as an opportunity to further activate his frontline management activities. In the future, Lee Jae-Yong will inspect the semiconductor production line, Samsung Digital Plaza and other marketing lines, and actively communicate with corporate officers and employees.
After receiving the pardon, Lee Jae-Yong had said, “I am really thankful that I was given a chance to make a fresh start. To fulfill my duties as a businessman, I will work harder and help the economy by creating more jobs for young people.”
In addition, after being pardoned, Lee Jae-Yong has gone to Samsung Electronics headquarters to take stock of frontline business affairs and to appear in court on Samsung’s case involving accounting fraud and improper mergers.
Lee Jae-Yong was promoted to vice president in the personnel transfer at the end of 2012. There is a view that Lee Jae-Yong will be promoted to president on Samsung’s anniversary of the founding of Samsung Electronics on November 1 this year.
