Samsung’s Lee Jae-Yong holds meetings with key executives after dodging arrest

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In the ongoing probe against Lee Jae-Yong, Samsung Group’s Vice President, the South Korean court had rejected an arrest warrant last week. Since then, the company’s heir has reportedly held important meetings with key executives from Samsung’s smartphone and semiconductor business arms.According to reports coming out of South Korea, Lee Jae-Yong met with Kim Ki-Nam and HK Park, who are the CEO and the CFO of Samsung Device Solutions (SDS), respectively. He also met with Jin Gyo-Young, President of Samsung’s memory business, ES Jung, President of Samsung Foundry, and In-Yup Kang, President of Samsung System LSI. Samsung’s heir discussed the investment strategy going forward and the current state of the global semiconductor industry.Lee also reportedly discussed the roadmap for the company’s 5nm semiconductor process and the upcoming GAA (Gate All Around) technology that is being worked upon by the foundry business. Lee seems to have also discussed the impact of the ongoing China-US trade war on its businesses. It was recently reported that Samsung will supply low-end and mid-range 5G modems for Huawei phones but has taken a decision against making smartphone chips for the Chinese brand.Samsung’s VP also discussed earnings from the smartphone business for the first half of 2020. He met with Samsung Mobile’s Roh Tae-moon (President), Yunho Choi (CFO), Choi Kyung-Sik (Senior VP of marketing), Kyung-jun Kim (Head of Development), and Kim Sung-Jin (Director of Support Team). This is the first time that Lee has finished all the key meetings within a day.During his visit to the company’s Xi’an memory plant in China, he had mentioned that the company has no time and that the firm must be prepared for big changes for future growth. It is being reported that there’s a chance of Lee Jae-Yong getting arrested in the controversial merger of Cheil Industries and Samsung C&T. However, Samsung Group has denied all corruption charges against Lee.

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