[Lee Kun-hee 1st Anniversary] Withdrawn JY Takes on 'Semiconductor War' Response

US Business Trip Expected Next Month... 'New Samsung' Transition Likely to Accelerate

Vice Chairman Lee Jae-yong of Samsung Electronics and the bereaved family members are attending the first anniversary memorial service of the late Lee Kun-hee, Chairman of Samsung Group, held on the 25th at the ancestral grave in Suwon, Gyeonggi Province. / Suwon - Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Jeong Hyunjin] Samsung Electronics Vice Chairman Lee Jae-yong is expected to actively engage in major management issues such as large-scale facility investments and mergers and acquisitions (M&A) starting from the first anniversary of the late Chairman Lee Kun-hee's passing. In particular, he plans to visit the United States in person to finalize the semiconductor foundry plant investment he has been contemplating and respond to the fierce "semiconductor hegemony war" being waged mainly by global powers such as the U.S., Europe, and China. Inside and outside the business community, it is anticipated that the Samsung executive reshuffle and organizational restructuring, which Lee is expected to implement after his overseas business activities, will reflect his vision for a "New Samsung."

According to the business community on the 25th, Lee is expected to travel to the U.S. next month. Although the exact schedule has not yet been disclosed, it is reported that the schedule is being coordinated considering that Lee attends court hearings weekly. There is speculation that he might depart as early as the 5th of next month, but with the trial adjourned on the 18th, he has secured some time from the second to the third week of the same month. If Lee's U.S. trip takes place, it will be his first overseas trip in about a year since visiting the Netherlands, Switzerland, and Vietnam last October, and three months after his parole in August.

During this trip, Lee is expected to finalize the investment in the U.S. semiconductor foundry plant. With the U.S. government actively showing its willingness to invest in securing semiconductor production facilities, this will lay the groundwork for achieving the global No. 1 position in the system semiconductor sector by 2030. Since early this year, Samsung has been negotiating with local governments to build a second foundry plant in addition to the semiconductor foundry plant currently located in Austin, Texas. Negotiations have accelerated since Samsung Electronics Vice Chairman Kim Ki-nam announced in May that they would make a $17 billion (approximately 20 trillion KRW) investment in the U.S.

Currently, Taylor City in Texas is considered the most likely candidate. New York and Arizona are also being reviewed, but considering the connectivity with Austin, where the current plant is located, Taylor City is highly likely to be the site of Samsung's next plant. Recently, the Texas State Legislature in Taylor City also finalized a support resolution granting Samsung tax benefits and other incentives, completing preparations to welcome Samsung. Once final adjustments are completed, Lee is expected to give the final approval.

Along with semiconductor investments, Lee has expressed his intention to continue Samsung's policy of nurturing talent and creating jobs. While most large domestic companies have switched to a rolling recruitment system, Samsung plans to maintain its open recruitment system and directly hire 40,000 people over the next three years. Lee also met with Prime Minister Kim Boo-kyum last month as his first official schedule after parole, promising to create an additional 30,000 youth jobs separate from the existing direct hiring plan, stating, "We will do our best to support the hopes of young people."

A business community official said, "Although it seems Lee has been cautious due to controversies over employment restrictions, there are many major issues Samsung must resolve, so he is expected to gradually take the lead. Through year-end personnel changes, organizational restructuring, and large-scale M&A, we will be able to see Lee's vision."

This content was produced with the assistance of AI translation services.