April 19, 2024

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[THE INVESTOR] Samsung Electronics is expected to announce an investment plan centering on employment and social contributions in the near future amid Vice Chairman Lee Jae-yong’s scheduled meeting with the country’s finance minister, industry watchers said on July 30.

Finance Minister Kim Dong-yeon said last week that he will visit Samsung in “early August,” hinting at a potential meeting with Lee, who has been serving as the de facto leader of the group since the hospitalization of his father in 2014.

Industry watchers said the young Lee is expected to come up with a major investment plan in response to the request made by President Moon Jae-in during his visit to India, where the two met for the first time at the opening ceremony of a Samsung’  production line.

During the meeting in India earlier in July, Moon asked Lee to invest more in Korea and create more jobs for people.

Sources said Samsung is currently contemplating details on future investments.

Kim and Lee is expected to meet at Samsung’s Pyeongtaek semiconductor complex on Aug. 6, although no details have been officially fixed.

“As far as we know, there’s no fixed plan for the meeting date, as well as investment and employment plans,” a Finance Ministry official said.

Lee and Kim are anticipated to discuss investments in the chip business, along with other long-term projects.

In terms of employment, industry watchers expect Samsung may expand recruitment for new employees in the second half of 2018 and grant regular positions to irregular workers.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)