General

Lee Jae-Yong encourages workers at Samsung’s startup incubation center

Samsung Vice Chairman Lee Jae-Yong, who is currently facing corruption charges, has been visiting the company’s important manufacturing plants and R&D centers for high-level meetings. Today, he visited the South Korean tech giant’s startup incubation center in Suwon amid global uncertainties and encouraged workers. During his visit, Lee vowed support for startups.

Lee said, “The future starts from a dream. Let’s continuously make opportunities,” during his meeting with employees at the C-Lab incubation program. Since 2012, Samsung has been offering a chance to its employees to launch their own startups and use their creative ideas. So far, more than 160 Samsung employees have launched 45 startups. The program also offers a chance for employees to come back and work for Samsung if their startup idea fails.

Since 2018, the South Korean tech giant expanded its C-Lab program to include outside startups. It funds startups, too, and helps those startups seek outside funds as well. The company also showcases products and technologies developed by C-Lab startups during trade shows and exhibitions. Recently, it announced support for five new startups and showcased their products.

Lee has been in talks with high-level executives of various business arms of Samsung Group and planning future strategies. His meetings with senior executives have increased since the COVID-19 pandemic and trade tensions between China and the US. The company also stands a chance to improve its business and market share in India due to the ongoing anti-China sentiments.

Join the Discussion