Business

Samsung heir Lee Jae-yong will be back in office next month

Samsung was hit by a major corruption scandal last year that had far-reaching repercussions both inside and outside the company. The scandal brought down South Korea’s former president Park Geun-hye and landed Samsung Electronics Vice Chairman Lee Jae-yong in jail on charges of bribery and corruption.

A Seoul court found Lee guilty and sentenced him to five years in prison. He filed an appeal with the Seoul High Court and walked out as a free man in February this year after the presiding judge observed Lee’s role in the scandal as “passive compliance to political power” and suspended his jail sentence.

Currently on a business trip overseas

Post his release from the jail, Lee has been keeping a low profile and even skipped the annual shareholders’ meeting in Seoul last week. According to a report in the Yonhap News, Lee is expected to resume his duties at Samsung next month. He left the country on March 22 for a business trip and is expected to return home in April.

The report quotes an industry insider saying, “Lee is currently in Europe and may visit North America before returning home. He may also visit some Asian countries, but all schedules are flexible.” He is reportedly meeting key officials from global IT firms to discuss and share ideas on new growth opportunities.

After returning home, Lee will work from both Seoul and Suwon offices according to the sources. He will also reportedly refrain from making public appearances for some time and focus on his work by keeping a low profile.

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