SEOUL: The chairman of Samsung Electronics said Wednesday his son will be promoted to a more powerful executive position, preparing the global technology giant for an eventual change in leadership. Samsung Electronics Co. is the flagship corporation of the Samsung Group conglomerate, which consists of dozens of other businesses including shipbuilding, construction, leisure and finance. Chairman Lee Kun-hee, 68, has steered Samsung into a major force in the world electronics industry, where it holds the No. 1 positions in memory chips and flat screen televisions and ranks No. 2 in mobile phones. Attention has long been focused on an eventual power transfer at family controlled Samsung, which is a source of pride among South Koreans for its technological prowess as well as controversy for its scrapes with the law. Lee Kun-hee, returning from the Asian Games in Guangzhou, China, answered affirmatively to a question from reporters about whether his son, Lee Jae-yong, would be promoted from executive vice president, said Samsung spokeswoman Lee Soo-jeong. Some media reports said the younger Lee would be made president, but the Samsung spokeswoman said that Lee Kun-hee did not specify any position.
