Much ink has been used to write about Samsung's outsized influence on South Korea's economy. Yet, despite the various observations and controversies surrounding the country's most valuable conglomerate, it's also the only one with a truly global presence that's recognized for its immense potential.
Case in point, the list of 100 most influential people in business that Fortune recently put out. There's only one Korean person on that list, and it's Jay Y. Lee, the chairman of Samsung Electronics.
Samsung's global potential is rightly recognized
Jay Y. Lee is the only Korean to make it on the list of Fortune's 100 most powerful people in business. That's a testament to the potential of Samsung that the world realizes, even as South Korea is home to a lot more global companies across many industries, such as automotive, aviation, semiconductor, engineering, and construction.
The Samsung boss was ranked on no. 85 on the list. Fortune has calculated several metrics to put together this list, including the size of the business that each person on the list runs, mid-term and short-term revenue potential, growth in profits, market value, and the overall health of their business based on 12-month trailing liquidity, efficiency, and solvency.
Some of the other factors that have also influenced the rankings include the capability to innovate, global impact, influence, and career trajectory. The magazine identifies Samsung as leading chipmaker but points out that it has fallen behind rivals recently in the development of high-bandwidth memory chips.
Jay Y. Lee's 18-month prison term was also mentioned. His other legal troubles include multiple charges stemming from a controversial merger, for which he was acquitted, but the prosecution has only today sought a five-year prison sentence in the ongoing retrial.
Nevertheless, Samsung Electronics' chairman is keeping good company on this list, which includes the likes of Tesla CEO Elon Musk, NVIDIA CEO Jensen Huang, Warren Buffet, and many other top business people.
