Samsung heir departs for Vietnam for biz chances, potential investment

20-Oct-2020 Intellasia | YNA | 6:02 AM Print This Post

Samsung Electronics vice Chair Lee Jae-yong, the de facto leader of South Korea’s top conglomerate, on Monday departed for Vietnam as he seeks more business opportunities amid the pandemic.

Lee is expected to meet Vietnamese prime minister Nguyen Xuan Phuc on Tuesday during his three-day trip to the Southeast Asian nation and visit Samsung’s plants there.

In his potential meeting with the Vietnamese prime minister, Lee is expected to discuss possible investment opportunities. The two previously had meetings in October 2018 and November 2019.

It is also Lee’s first visit to Vietnam since October 2018. He will be exempt from Vietnam’s mandatory self-isolation against COVID-19 after the country adopted a fast-track entry programme for South Korean diplomats and businesspeople.

Lee is also expected to inspect Samsung’s research centre in Hanoi that is currently under construction and the company’s smartphone plant.

Vietnam is Samsung’s largest smartphone production base. The South Korean tech giant operates smartphone factories in Vietnam’s Bac Ninh and Thai Nguyen provinces. The company also runs TV and home appliance factories in HCM City.

For his trip to Vietnam, Lee will be accompanied by Roh Tae-moon, who heads Samsung’s mobile business, and Lee Dong-hoon, CEO of Samsung Display Co.

This is Lee’s second overseas trip this month following his visit to Europe. He met with top executives from ASML Holding N.V., the world’s leading photolithography equipment maker, in the Netherlands and visited the International Olympic Committee in Switzerland before returning home last Wednesday.


Category: Korea

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