It has been found that Samsung Electronics vice chairman Lee Jae-yong is meeting with the heads of the four largest financial groups in South Korea.
Specifically, he had meetings with Shinhan Financial Group chairman Han Dong-woo and Woori Bank CEO Lee Kwang-goo in February and January this year, respectively. “He is scheduled to meet with KB Financial Group chairman Yoon Jong-kyu and Hana Financial Group chairman Kim Jeong-tae before the end of this month,” said an industry insider, adding, “It seems that he is interested in the financial sector.”
It is well known that the vice chairman of Samsung Electronics has been deeply interested in Samsung as a financial company. He has stressed the necessity of asset management and fintech in particular during his recent meetings with the CEOs of the group’s subsidiaries.
He has met with the heads of a number of foreign financial companies, too. For instance, he discussed cooperation in the financial sector with Citic Group chairman Chang Zhenming in Beijing last year and had talks with Union Pay chairman Ge Huayong when he visited South Korea last year. In February 2015, the vice chairman discussed how to expand Samsung Pay with the CEOs of major U.S. credit card companies. In 2014, he invited Tokio Marine & Fire Insurance and People's Insurance Company of China, too. These meetings are regarded as efforts to listen to global financial industry leaders before setting the direction of the Samsung Group’s financial business.