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

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    Technology News

    File photo of Jay Lee, Samsung Electronics vice chairman, arriving for the first session of annual Allen and Co. conference at the Sun ValleyBy 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, as the world's biggest technology group by sales approaches a crossroads after years of explosive growth. The only son of Samsung's 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 Group's 2012 revenue of 380 trillion won ($371 billion) was more than a quarter of South Korea's nominal GDP. The younger Lee, 45, became Samsung's 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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