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Technology

Samsung's future: Five challenges for Chairman Lee Jae-yong

Tech tycoon faces chip downturn, underscoring need for new growth engines

Lee Jae-yong takes over Samsung's top leadership role at a challenging time for the global tech giant.   © Reuters

SEOUL -- After decades of grooming, Samsung Electronics scion Lee Jae-yong has finally reached the pinnacle of the global tech giant after the announcement on Thursday of his appointment as chairman, succeeding the position left vacant after the death of his father, Lee Kun-hee, in 2020.

And while the younger Lee, 54, was Samsung's de facto leader as vice chairman, he now faces the full weight of responsibility as undisputed leader of South Korea's most dominant company. Samsung and the broader conglomerate it anchors play such a significant role that the company has been dubbed the Republic of Samsung -- a virtual nation within a nation.

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