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Samsung chief visits Japan to strengthen business ties and supply chains

Business
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Last updated: July 6th, 2022 at 15:59 UTC+02:00

Samsung de facto leader Lee Jae-yong reportedly met with a couple of high-profile Japanese business leaders earlier this week. Although the purpose of this meeting remains uncofirmed, it is believed that Lee’s goal is to strengthen business ties with Japan.

Reports say that Samsung’s leader had dinner with Masazuka Tokura on Monday. Mr. Tokura is the chairman of Sumitomo Chemical and Keidanren (Japan Business Federation).

On Tuesday, Lee Jae-yong also reportedly held a luncheon meeting with the chairman of Hitachi and vice chairman of Keidanren, Toshiaki Higashihara. (via The Investor)

The first Korea-Japan Business Council in two years

The Korea-Japan Business Council used to be held every year since its founding in 1982. The last two annual meetings were canceled due to the COVID-19 pandemic, but it looks like Korea’s and Japan’s business leaders are ready to resume the usual schedule.

The reasons behind Lee Jae-yong’s recent visit to Japan remain unclear. However, industry watchers speculate that Lee’s visit is intended to strengthen business ties between Japan and Korea, particularly after Japan’s recent trade ban.

Lee and Japan’s business leaders may have discussed new ways to promote trade exchanges between the two nations and strengthen the supply chain.

Although Samsung has a minuscule smartphone and TV market share in Japan, Lee Jae-yong studied management at Keiko University in Tokyo and maintains ties with Japan’s telecom carriers: NTT Docomo and KDDI.

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BusinessGeneral JapanLee Jae-yongSamsung Electronics
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