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Samsung’s ‘crown prince’ in focus as father hospitalized

14
May
2014

By Miyoung Kim SEOUL (Reuters) – Unassuming, media-shy and, as yet, unproven, Jay Y. Lee is the unofficial heir-apparent to lead Samsung Electronics Co Ltd 005930.KS, as the worlds biggest technology group by sales approaches a crossroads after years of explosive growth. The only son of Samsungs frail 72-year-old chairman Lee Kun-hee, Jay has been groomed for years to take over the sprawling South Korean family-run \chaebol\, a conglomerate with interests spanning technology and insurance to shipbuilding and construction. Samsung Groups 2012 revenue of 380 trillion won ($371 billion) was more than a quarter of South Koreas nominal GDP. The younger Lee, 45, became Samsungs vice chairman in 2012 after a spell as chief operating officer in what appeared to be a well choreographed long-term succession plan.

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