Succession looms large at Samsung

“A big question mark hangs over Korea’s top conglomerate, the Samsung Group,” Lee Sun-young reports for The Korea Herald. “With its chairman Lee Kun-hee ill and bedridden for the past two years, succession looms large at the colossal corporate empire, which alone accounts for roughly a fifth of the nation’s economy.”

“The market knows who the successor is — Lee’s only son Jae-yong — but has little clue as to what steps the group will take to pass on control to him,” Lee reports. “It is a widely known secret that the 48-year-old is behind the group’s recent bold restructuring moves that entailed high-profile splits, mergers and asset sales. ‘When it comes to management control, Samsung Group’s succession is already complete,’ Chae Yi-bai, a corporate governance expert turned lawmaker, told The Korea Herald. ‘What still needs to be done is the transfer of equity ownership to Lee Jae-yong.'”

MacDailyNews Take: Hey, how ’bout via a sleazy, illegal slush fund?

“In Korea’s convoluted world of chaebol, many take Samsung’s heir for granted, despite his apparent lack of management experience to be considered fit for running the 350 trillion-won ($308 billion) empire,” Lee reports. “Whatever the future may entail, it will be the endgame of a two-decade long effort at Samsung to pass on the crown to the third-generation leader, experts and observers say. The process began in the late 1990s, when Lee Jae-yong, along with his two younger sisters Lee Boo-jin and Lee Seo-hyun, acquired large stakes in two affiliates Samsung SDS and Samsung Everland through convertible bonds sold to him by the companies at prices well below fair value. As a result of this sale, their father was sentenced to a suspended jail term in August 2009. He was granted a presidential pardon four months later. ”

Read more in the full article here.

MacDailyNews Take: Ah, life in Samsungorea, den of thieves.

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Beleaguered Samsung to attempt to knock off Apple iPhone’s Live Photos – January 14, 2016
Beleaguered Samsung to attempt to knock off Apple iPhone’s 3D Touch – December 14, 2015
Slavish Apple copier Samsung announces rose gold Galaxy Note 5 – October 15, 2015
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Slavish copier Samsung in talks to launch Apple Pay knockoff – December 16, 2014
Samsung returns to mimicking Apple’s iPhone with chamfered metal-edged Galaxy Alpha – August 13, 2014
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Samsung’s new ad for Galaxy Gear stupidwatch slavishly copies Apple’s original 2007 iPhone ad (with video) – October 7, 2013
Samsung announces plastic Galaxy S4 ‘Gold Edition’ phone – September 25, 2013
Samsung slavishly copies Apple’s iPad mini with Galaxy Tab 3 (with photo) – July 23, 2013
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Now Samsung copies Apple product rumors, said to be working on wristwatch device – March 19, 2013
Samsung’s new ‘Wallet’ bears striking resemblance to Apple’s Passbook – February 27, 2013
Korea JoongAng Daily: Samsung must stop slavishly copying Apple – September 3, 2012
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Samsung mimics Apple product videos in Galaxy S III promo (with video) – August 24, 2012
Now slavish copycat Samsung attempts to knockoff Apple’s retail stores (with video) – August 23, 2012
Samsung: Shameless slavish copiers – August 13, 2012
Now Samsung slavishly copies Apple’s Mac mini – June 1, 2012
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Slavish copier Samsung shamelessly steals Apple’s iPhone 3G design – again – January 3, 2012
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Now Samsung’s slavishly copying Apple’s iPad television ads (with videos) – December 30, 2011
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Samsung’s ‘Instinct’ is obviously to make Apple iPhone knockoffs – April 1, 2008

[Thanks to MacDailyNews Reader “M J Miller” for the heads up.]


  1. MDN. You keep grouping Samsung and Korea (even Koreans) together as evil but that’s not fair.

    If you think about it, Google and Microsoft, both American companies, have done way more evil. Yet, there’s no bashing USA.

  2. ScamScum is not Apple’s problem; it’s the US DoJ that has let SS steal Apple’s IP at will.

    Like I’ve written before, ever seen any soft drink company use a copy of Coca-Cola’s pinched waist bottle? No! Of course not, but ScamScum has been allowed to steal the overall look and feel of the iPhone, in addition to numerous patented features.

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