The appointment comes as Samsung, the world’s biggest maker of memory chips and smartphones, faces mounting business headwinds amid a sharp downturn in worldwide tech demand, caused by soaring inflation, interest rates and a gloomy economic outlook. He takes over a position previously held by his father, Lee Kun-hee, who died two years ago after being incapacitated by a 2014 heart attack.īuy Prime Test Series for all Banking, SSC, Insurance & other exams Present business condition of Samsung Electronics: The 54-year-old, Lee has been vice chairman of Samsung Electronics, the crown jewel of South Korea’s biggest business conglomerate, since 2012. officially appointed Lee Jae-yong as its executive chairman, formalizing the all-encompassing leadership role he has long played at South Korea’s largest business.
