A son overlooked and a jailed tycoon: Inside Samsung's succession drama
Lee Jae-yong, the heir to Samsung's family-controlled conglomerate, faced legal and public scrutiny over his succession following a 2017 bribery conviction linked to a political scandal that also led to the impeachment of South Korea's president. Despite being groomed for leadership since the 1990s and assuming de-facto control after his father's 2014 heart attack, questions about his leadership style and capabilities persisted within South Korea. The complex web of cross-shareholdings among Samsung's subsidiaries and a looming $10 billion inheritance tax bill have made smooth succession a high-stakes challenge for the Lee family.
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A son overlooked and a jailed tycoon: Inside Samsung's succession drama7 hours agoShareSaveAdd as preferred on GoogleSarah GreenandSimon Tulett,World Service PodcastsBloomberg via Getty ImagesSamsung chairman Lee Jae-yongWhen power shifts at the top of some of the world's biggest companies, most people don't notice.If products perform, services work and store shelves are full, then who sits in the boardroom doesn't make headlines. But when it comes to Samsung, the family dynasty behind it is so complicated – and the company so crucial to the South Korean economy – that it's front-page news.And so it was in 2017 when the Samsung heir-in-waiting, Lee Jae-yong - who is also known as JY Lee - was jailed for his part in a corruption scandal that also brought down the country's president.
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