Lee Jae-yong’s possible promotion around November

Samsung Electronics Vice Chairman Lee Jae-yong was reinstated with the special pardon on Korea’s Liberation Day, which falls on August 15. Now Lee can be back to business which also includes being appointed as Board Director of Samsung Electronics. Samsung is internally discussing when to announce the comeback of the vice chairman with what message. The company reportedly received a review from Boston Consulting Group on its corporate governance system. People inside and outside the company predict that the company will be normalized sooner than expected with Mr. Lee’s inauguration as chairman of the company.

Lee’s term as Board Director was expired in October 2019, and since then, he is not involved in the business. People inside and outside the company are making predictions that Lee’s return as Board Director and promotion to Chairman will come within this year.

Some say after the second anniversary of the death of Chairman Lee Kun-hee on October 25, Samsung's foundation day, November 1, is expected to be the day when Mr. Lee is getting promoted to chairman. This means only a month left before Samsung’s annual executive reshuffle which comes in early December. To reorganize the company, he should be inaugurated as early as possible and revamp the organization with enough time.

“Lee’s message will be about proposing a clear philosophy of Samsung to the executives and employees as well as the Korean people while squarely facing the reality facing the company,” an expert of the business industry said.


Do-Young Kwak now@donga.com