Samsung Group Chairman
Samsung Group Chairman Lee Kun-hee returned from 96 days abroad on April 17.
He returned to Korea late last year to attend the group’s New Year’s ceremony and presidential meeting, and then left the country two weeks later. He is said to have stayed in Japan.
The Chairman is expected to take care of the Mach Management strategy and restructuring process of his group in person for the time being, based on reports from the CEOs of the subsidiaries, including Samsung Electronics. The concept of Mach Management was first mentioned by the Chairman back in 2002. “If a jet is to double its speed, it needs to not only double its engines, but also a whole new structure from material engineering to physics,” he said at that time.
He is also predicted to make instructions for the inter-subsidiary restructuring for business innovation while monitoring the follow-up procedure himself. Recently, the group decided to merge Samsung SDI with Cheil Industries and Samsung General Chemicals with Samsung Petrochemical to reshape its own main pillars. The process is expected to spread to other subsidiaries of Samsung as well.