April 20, 2024

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[THE INVESTOR] Samsung Electronics Vice Chairman Lee Jae-yong is in Europe since last week to meet local partners and investors -- his first overseas business trip in 18 months, according to industry sources on March 26.

His business trip comes after the 50-year-old Samsung heir was freed on suspended sentence on Feb. 5 after spending nearly a year in jail over bribery and other charges linked to a corruption scandal that led to the ousting of former President Park Geun-hye last year.

Lee Jae-yong

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Lee reportedly left for Europe on March 22 when Samsung Group celebrated its 80th anniversary in a low-key manner, sources said.

Lee is expected to meet Samsung’s key partners in Europe, including Siemens, BMW, Volkswagen, Wallenberg, Merck and Roche. He is also likely to meet the top brass of Exor, the Italian holding company that controls Fiat Chrysler Automobiles, even though he stepped down from the board of directors last year.

Lee had been staying at home since being released from jail last month unlike earlier predictions that he could return to management immediately to resume the stalled talks for mergers and acquisitions for months. He also didn’t participate in key events over the past month, including the tech giant’s board meeting and the ground breaking ceremony of a new semiconductor plant.

By Lee Ji-yoon (jylee@heraldcorp.com)