Seoul, Dec. 6 (BUS): Lee Jae Young, the de facto leader of Samsung Group, is set to leave for the United Arab Emirates on Monday, in the latest move to expand global networks and seek new business opportunities.
He will also take the Vice President of Samsung Electronics to Saudi Arabia on the trip. Samsung said Lee plans to strengthen cooperation in the telecom sector and see new trends in the Middle East, without going into details, Yonhap News Agency reported.
Li is building business relationships in the Middle East market. In February 2019, Lee met with Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan and they discussed ways to expand cooperation in information and technology and expand Samsung’s foothold in the luxury smartphone market.
In September of that year, he visited Samsung C&T Corp’s metro construction site in Riyadh, Saudi Arabia, to check on the progress of the project, the first public transportation construction project in Saudi Arabia.
Last month, Samsung C&T, the construction arm of South Korea’s largest Samsung Group, signed a memorandum of understanding with the Ministry of Investment of Saudi Arabia to collaborate in the energy, city and infrastructure development sectors.
The latest trip came less than two weeks after Lee returned from a business trip to the United States where he met with senior US officials and business partners, including Microsoft CEO Satya Nadella and Moderna CEO Nubar Avian, to discuss chip shortages and other business issues.
FKN