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Samsung Restructures Business, Sends Lee Jae-yong To China

May 30, 2008
Editorial Staff

South Korean electronics manufacturer Samsung Electronics has announced plans to restructure its business and send Lee Jae-yong, elder son of Kun-Hee Lee, former chairman of the group, to work in China.

According to the restructuring plan, Samsung will combine its businesses of home theatre, DVDs and Blu-Ray players with television manufacturing and incorporate MP3 player, laptop computers and set-top boxes into a communications network department.

In the meantime, the company will have the 39-year old Lee Jae-yong responsible for commercial expansion in such emerging markets as China, India and Russia. James Chung, spokesperson of Samsung, says that Lee will soon take his position and he will be mainly based in China.

In April, Kun-Hee Lee, president of Samsung Group, was obliged to resign because of an accusation of tax evasion. Later his son Lee Jae-yong also resigned from the position of CCO from Samsung Electronics.

Related Topics: blu-ray | Business | chairman | China | communications | expansion | Gadgets & Electronics | India | Korean | laptop | manufacturer | manufacturing | MP3 | network | president | resign | restructuring | Russia | Samsung | set-top box | South Korea | tax | tax evasion | television

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