Samsung Electronics Vice Chairman Lee Jae-yong is a central figure in the organization. His business activities are closely monitored by the market for signs of what direction Samsung might be pursuing.
There are now reports in the Korean media that during the upcoming Lunar New Year holiday, Lee Jae-yong is expected to travel to Europe for business purposes. It’s believed that he might pursue potential merger and acquisitions opportunities.
All eyes on the Samsung boss as he heads to Europe
Samsung has been sitting on over $110 billion in cash and hasn’t made a major acquisition since 2016. The company has said in the past that it’s open to acquiring more companies in order to fuel growth.
The vice chairman’s focus is expected to be on enhancing cooperating with Samsung’s partners in the semiconductor business. Samsung Electronics has a stated goal of becoming the global leader in semiconductors by 2030.
Lee last went to Europe in October 2020 when he visited ASML’s headquarters in Eindhoven, the Netherlands, and met with the company’s top executives. ASML is the only company that provides the EUV machines that are required for manufacturing advanced semiconductors.
The reports at that time suggested that Lee’s visit had enabled Samsung to secure reservations for more EUV machines. The latest trip might also involve a trip to ASML for a similar purpose.
The market will also be closely watching any activity that may suggest Samsung is pursuing a merger or acquisition. Han Jong-hee, a top Samsung executive, hinted earlier this month that there will be “good M&A results soon.”
Reports suggest Samsung might be looking to acquire semiconductor companies. Netherlands-based NXP, Germany’s Infineon Technologies and STMicroelectronics of Switzerland are said to be possible candidates. ARM may also excite Samsung now that its $40 billion deal with NVIDIA seem to have blown up.
Join SamMobile’s Telegram group and subscribe to our YouTube channel to get instant news updates and in-depth reviews of Samsung devices. You can also subscribe to get updates from us on Google News and follow us on Twitter.