Lee Jae-yong, |
Father-to-son succession process begins
By Kim Tae-gyu, Kim Yoo-chul
Lee Jae-yong, 42, the only son of Samsung Group owner Lee Kun-hee, will be promoted to president of Samsung Electronics in a year-end reshuffle at the conglomerate, Samsung officials said Tuesday.
The confirmation came after the senior Lee, now chairman of Samsung Electronics, talked of promoting his son, now chief operating officer (COO) at the flagship firm, at
The promotion will start the father-to-son succession at Samsung but at what speed is another matter. Officials said that the senior Lee will still be in charge. “We don’t expect the junior Lee to be CEO of the firm for now,” an official said.
However, it is widely speculated that the senior Lee has finally made up his mind about his son being his successor, meaning that his two daughters will be given other tasks in possible spinoffs at the group.
The 68-year-old leader of
Previously, Chairman Lee had answered, “I don’t know” to the same question on his son’s promotion last weekend when the International Olympic Committee member took a flight to attend the Asian Games.
This has prompted analysts to guess that he made the decision during his short stay in
Joining Samsung Electronics in 1991, the junior Lee was elevated to executive vice president last year.
Executive vice president is not so high a rank in Samsung Electronics, the world’s top maker of memory chips and flat-panel displays, as the outfit comprises a pair of vice chairmen and a total of 17 presidents.
However, Lee has already assumed a significant role as COO at the firm during the past year under the stewardship of CEO Choi Gee-sung and eventually under the auspices of his father, Chairman Lee.
If the 42-year-old is promoted for two years in a row, the father-to-son power transfer is projected to accelerate with old-generation executives being replaced by younger talent.
“Young people will help Samsung make faster judgments in order to get ahead and keep ahead... Besides, young people are more adaptable to new cultures and the changing surroundings,” Chairman Lee was quoted as saying recently.
From the perspective of ordinary people, it might be very fast for a new recruit to become president of the country’s largest firm in 20 years. In particular, the junior Lee spent several years out of Samsung studying in
From the viewpoint of third-generation businesspeople, however, things might differ. Lee is representative of the third-generation of businessmen as the grandchild of the late Samsung founder Lee Byung-chull.
For example, Hyundai Motor Vice Chairman Chung Eui-sun was made president in 2005 of sister company Kia Motors around 10 years after he entered Hyundai-Kia Automotive Group, the country’s runner-up chaebol.
At the age of 39, the only son of group Chairman Chung Mong-koo was promoted to vice chairman midway through last year.
Regarding the 2011 management strategies, Chairman Lee said, “It will be tough (next year) but we will put forth efforts to chalk up profits like this year.”
According to the tycoon, he is also well aware that Japanese companies are trailing Samsung closely.
“In fact, the chase started a couple of years ago. We will continue to focus on our own tasks (to remain ahead of the pack).”
THE ARTICLES FROM THE
SUMMARY
Lee Jae-yong, 42, the only son of Samsung Group owner Lee Kun-hee, will be promoted to president of Samsung Electronics in a year-end reshuffle at the conglomerate. it is widely speculated that the senior Lee has finally made up his mind about his son being his successor, meaning that his two daughters will be given other tasks in possible spinoffs at the group. If the 42-year-old is promoted for two years in a row, the father-to-son power transfer is projected to accelerate with old-generation executives being replaced by younger talent.
QUESTION
1. Do you think Lee Jae-yong has enough experience to be promoted as a president of such Samsung Electronic?
2. Some other employee might has more ability and put much more effort into work than Lee Jae yong but It’s impoosible to get such a president position so quickly like Lee Jae yong. Isn’t it unfair?? What is your opinion??
3.
- 3rd section : Culture / Entertainment / Food / Travel / Sports / Life
Actress Graham promotes kimchi in ‘safe
Hollywood actress Heather Graham says despite concerns over South Korea’s security in the aftermath of a military skirmish between North Korea on the west coast island of Yeonpyeong, she felt safe since arriving in Korea in November.
The 40-year-old star of films such as “Boogie Nights” and “The Hangover” arrived in Korea to take part in a documentary series on Korean cuisine titled “Kimchi Chronicles” alongside Marja Vongerichten just five days after the isolated communist state began shelling the remote island near the NLL which left two marines and two civilians dead.
“A lot of Americans tend to focus on the dangers North Korea poses to the south and think bombs are going to go off any minute not realizing it’s really safe,” Graham said during a news conference unveiling the forthcoming series at the Lotte Hotel in Seoul, Friday.
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American actress Heather Graham (left) is shown with program host Marja Vongerichten during a photo op. at the Lotte Hotel in downtown |
“It’s been educational for me because I didn’t know much about
She added “and the women dress gorgeously.”
Vongerichten ― the half-Korean wife of renowned master chef Jean-Georges Vongerichten ― covers cuisines indigenous to Busan,
The program is being produced by Charles Pinsky whose format of pairing
In 2008, “Spain ... On the Road Again” featuring Gwyneth Paltrow and chef Mario Batali introduced Spanish cuisine that garnered the Pinsky and crew at production company, Frappe Inc., “Best National TV Show” honors from the James Beard Foundation Award ― considered the Oscars of the culinary world.
The Visit Korea Committee has offered financial backing for the production as part of its aggressive promotional campaigns aimed at “globalizing” Korean cuisine.
Some of the local cuisine to be introduced in the series is said to be temple food and introductions to traditional open markets,
Graham said one of the biggest hurdles during filming was local delicacies involving live seafood.
“The scariest thing I heard about Korean food was eating live octopus and this sea creature that squirts called sea squirt,” she said.
Graham added that in spite of having little knowledge of the country, she enjoyed dining out in Korean restaurants in the
“I have some Korean friends who introduced me to a restaurant called ‘Woolaeok’ which a lot of people say here (in
On which type of local dishes would be most accessible to western palates, Graham felt Korean BBQ had the potential to appeal to a broader base.
Vongerichten touched upon the difficulties in promoting a cuisine that some believe to be inaccessible to the West.
“Korean food as a healthy alternative has been discussed as a strong promotional tool,” she said.
Graham also mentioned the lack of Korean restaurants in the
In addition to Graham, fellow Tinseltown star Hugh Jackman also took part in a segment which wrapped filming in the
The air date for the series has not been announced yet.
THE ARTICLES FROM THE
SUMMARY
Hollywood actress Heather Graham says despite concerns over South Korea’s security in the aftermath of a military skirmish between North Korea on the west coast island of Yeonpyeong, she felt safe since arriving in Korea in November. The 40-year-old star of films such as “Boogie Nights” and “The Hangover” arrived in
QUESTION
1. Have you ever introduced about korean culture to your foreign friend ? About what? (ex. Food, place, performance)
If you don’t have a foreign friend, what kind of things are you going to introduce?
2. Where do you recommend to visit in
3. Let’s imagine. If you were westerner, what would be amazingly the most impressive things about Korean culture?
(eating live octopus or someone who scrubs customer’s body in a public bath etc…)
4. Do you know someone who mentioned about Korean culture among worldwide celebrities through the public media like Heather Graham?
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