Lee Jae-yong, vice chairman of Samsung Electronics, had a private meeting with key executives of non-electronic affiliates of Samsung Group on June 24 to discuss their business strategies.
Lee visited the main building of Samsung C&T for a meeting with Lee Young-ho, president of Samsung C&T's Construction Division, Choi Sung-an, president of Samsung Engineering, and other key executives. After the meeting, he had a luncheon with employees at the company's cafeteria, Samsung C&T said.
At the meeting, Lee and other executives discussed preparations for the planned visit to Korea of Mohammad bin Salman Al Saud, crown prince and deputy prime minister of Saudi Arabia. The meeting focused on business cooperation with Saudi Arabia and other Middle Eastern countries based on the rich experience of Samsung’s construction-related firms in carrying out engineering, procurement and construction (EPC) projects.
Crown prince Bin Salman is expected to stay in Korea for two days from June 26 and plans to meet Korean business leaders during a luncheon at Cheong Wa Dae, South Korea’s White House. The Korean business leaders will include Lee, SK Group chairman Chey Tae-won and Chung Eui-sun, senior vice chairman of Hyundai Motor Group.
Industry watchers say that Lee visited the group’s non-electronic affiliates to check on their pending issues and show his will to manage them. As the Business Support Task Force (TF) of Samsung Electronics, which serves as the control tower of the entire group, is not functioning properly due to the prosecution’s investigation of Chung Hyun-ho, head of the task force, Lee had to directly take care of the business and investment plans of group affiliates, they added.