Samsung Promotes Chairman(cid:146)s Daughter to Key Position - Digits - WSJ
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`Samsung Promotes Chairman(cid:146)s
`Daughter to Key Position
`
`ARTICLE
`
`COMMENTS (8)
`
`LEE SEO-HYUN MANAGEMENT RESHUFFLE
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`SAMSUNG SAMSUNG ELECTRONICS
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`5
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`By MIN-JEONG LEE
`
`Samsung Group, South Korea(cid:146)s biggest conglomerate whose flagship unit includes
`Samsung Electronics Co. 005930.SE 0.00% , unveiled its annual promotions on Monday
`most of which were relatively low-key. Except for one: the promotion of Chairman Lee
`Kun-hee(cid:146)s daughter to a key role.
`
`The group said it will promote Lee Seo-
`hyun, one of Mr. Lee(cid:146)s two daughters, as
`president of a division at Samsung
`Everland Inc., which is controlled by the
`Lee family and serves as a de facto
`holding company for the group. Samsung
`Everland also operates an amusement
`park and has long been used as a key
`investment vehicle in maintaining the
`family(cid:146)s ownership over the roughly 80
`Samsung affiliates.
`
`The move is being interpreted as one of
`the many incremental steps Samsung has
`to take for a transition of power from Chairman Lee to his three children (cid:151) son Jay Y. and
`daughters Boo-jin and Seo-hyun.
`
`The logo of Samsung Electronics is displayed on a
`glass door at the company(cid:146)s headquarters in Seoul on
`November 6, 2013. (cid:151) Agence France-Presse/Getty
`Images
`
`Lee Kun-hee and his three children held a combined 46% stake in Samsung Everland at
`the end of September, with the two daughters each owning a 8.37% stake. Lee Boo-jin
`already has an executive position within Samsung Everland.
`
`Ms. Lee(cid:146)s appointment follows a recent decision by affiliate Cheil Industries Inc. to sell
`its fashion business to Samsung Everland for 1.05 trillion won ($992 million), saying the
`company will focus on making chemicals and materials that are used in electronic devices
`instead.
`
`Around the same time last year, Jay Lee was promoted to vice chairman of Samsung
`Electronics, which was also interpreted as taking him closer to eventually heading the
`world(cid:146)s biggest smartphone maker.
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`Samsung Group currently functions like a control tower for major management decisions
`but it isn(cid:146)t a legal entity.
`
`Samsung(cid:146)s annual management reshuffle, which is announced over the course of several
`days, usually includes promotions and transition of jobs for many senior executives.
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`Gold Charm Ex. 2008
`Samsung v. Gold Charm
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`Samsung Promotes Chairman(cid:146)s Daughter to Key Position - Digits - WSJ
`In Monday(cid:146)s announcement, Samsung Electronics also named a new chief executive for
`its display unit, Park Dong-gun, replacing Kim Kinam. Mr. Kim will take on a new role as
`the head of the memory-chip unit, the company said in a statement.
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`Comments (5 of 8)
`11:35 am December 6, 2013
`Good grief! wrote:
`Someone like Carlos James is just a Samsung fanboy!
`
`Depotism is generally bad especially when a company is known for not-so-good dealings.
`Korean companies are just as bad as Japanese companies in that they are relatively too
`intertwined with government and similar companies (i.e. corruption).
`
`Also, mimicking competitors’ products isn’t good as there’s not much innovation by Samsung.
`
`Samsung should clean itself up and start innovating and improve its customer service but it won’t
`as it’s too bad and family-related privately-owned.
`
`2
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`Samsung Promotes Chairman(cid:146)s Daughter to Key Position - Digits - WSJ
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`Page 3 of 3
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`2:19 pm December 4, 2013
`DBM wrote:
`There is a reason Samsung is bigger, part of which is combining cheaper labor, developing
`quality products and working with the economies of scale (control of manufacturing and
`components) . The other part of the equation is the corruption within the company - with payoffs
`to politicians, the judiciary, patent office - with moving money to offshore accounts - avoiding
`taxes. All of which were exposed by South Korean politician Roh Hoe-chan, and two journalists,
`all of whom were in turn rewarded for their efforts by being indited by the South Korean courts.
`This is all just jealousy of course....
`
`2:19 pm December 4, 2013
`Anonymous wrote:
`There is a reason Samsung is bigger, part of which is combining cheaper labor, developing
`quality products and working with the economies of scale (control of manufacturing and
`components) . The other part of the equation is the corruption within the company - with payoffs
`to politicians, the judiciary, patent office - with moving money to offshore accounts - avoiding
`taxes. All of which were exposed by South Korean politician Roh Hoe-chan, and two journalists,
`all of whom were in turn rewarded for their efforts by being indited by the South Korean courts.
`This is all just jealousy of course....
`
`10:19 am December 3, 2013
`Carlos James wrote:
`The bigger and better a company gets the more criticism it also takes. Samsung is a great
`company with amazing growth in both sales and the number of employees. They make great,
`reliable products and spend Billions per year in R&D to make better products and solutions. Get
`over your jealousy.
`
`6:57 am December 3, 2013
`Roger Park wrote:
`Samsung nepotism at its best. This confirms that Samsung is indeed a front-end for the South
`Korean mafia chaebol. A family owned criminal business at best. Unethical practices is the norm
`with Samesung.
`
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