Board of Directors of the South Korean company Samsung Electronics officially approved Lee Jae-yong, who served as vice president and actually led the company, to the position of executive chairman. The Board noted that in the current uncertain market situation, the company needs more stability and responsibility for making important decisions.
Last January, Lee Jae Young was sentenced to two years and six months in prison for bribery and embezzlement. However, in early August, the South Korean Ministry of Justice decided to early release, and he was released on 13 August. After that, the country’s Prime Minister Kim Bu Gyom himself supported public and business calls for Lee Jae-yong’s return to Samsung leadership.