Pardoned in August, Samsung vice president appointed head of this company

Convicted in 2017 for a bribe and pardoned in August 2022, Samsung Electronics vice president Lee Jae-yong became chairman and CEO of this company, informs Bloomberg Thursday.

Recallthe President of South Korea explained the decision to pardon by the fact that the country needs a business leader who will help overcome the crisis in the national economy.

How reported in October, Samsung Electronics’ third-quarter 2022 operating profit plummeted 32% year-over-year to 10.8 trillion won (464 billion rubles).

Lee has previously been considered the de facto leader of the company, Bloomberg notes. The formal appointment as head of Samsung will give Lee more opportunities to strengthen the position of the semiconductor and biotechnology division of the company.

Read also: Samsung Announces Plans to Invest Trillion Won in Semiconductor Industry R&D Center >>>

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