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Samsung Electronics Vice Chairman Lee Jae-yong to be appointed as Director of the Board

Sep 13, 2016 15:01 IST

Lee   Jae-yongSouth Korean electronics major Samsung Electronics announced on 12 September 2016 that Vice Chairman Lee Jae-yong will be appointed as a registered executive director on the board.

The decision was made keeping in mind the urgent need for strategic decision-making on aggressive investments and new growth engines from a long-term perspective.

Who is Lee Jae-yong?

Lee Jae-yong is a South Korean business magnate.

He is the eldest child and only son of Lee Kun-hee, Chairman of Samsung.

He received a degree in East Asian history at Seoul National University.

He obtained his master's in business administration from Keio University.

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He has also attended Harvard Business School to pursue a Doctor of Business Administration degree, focusing on e-commerce. However, he did not obtain the degree.

He is referred to as the Crown Prince of Samsung by the South Korean media.

His wealth is estimated to be worth 7.9 billion US dollar, making him the third wealthiest person in South Korea.

In 2014, he was named the world's 35th most powerful person and the most powerful Korean by Forbes Magazine's List of The World's Most Powerful People along with his father Lee Kun-hee.

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