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May 9, 2014

The third generation of the Lee family, which controls South Korea’s Samsung, is reportedly restructuring family ownership in the conglomerate’s complicated web of subsidiaries.

The third generation of the Lee family, which controls South Korea’s Samsung, is reportedly restructuring family ownership in the conglomerate’s complicated web of subsidiaries.

The group’s IT solutions business, Samsung SDS, said on Thursday it was planning a listing on the Korea Exchange this year, explaining it will help it secure funds for its global expansion and patents in lucrative business areas such as cloud computing and big data.

September 25, 2013

Two next-gen sisters within the Samsung Group have reorganised their respective branches of their family conglomerate, selling the apparel business of Cheil Industries to another subsidiary within the group.

Two next-gen sisters within the Samsung Group have reorganised their respective branches of their family conglomerate, selling the apparel business of Cheil Industries to another subsidiary within the group.

The apparel business – headed by Lee Seo-hyun, second daughter of Samsung Group chair Lee Kun-hee – will be transferred to Samsung Everland, led by her elder sister, Lee Boo-jin, in a KRW1.5 trillion deal (€1 billion). The deal is due to be completed by December.

December 3, 2010

Samsung Electronics Ltd, a division of South Korea’s largest conglomerate the Samsung Group, announced 3 December that third-generation Lee Jae Yong has been promoted to president at the family-controlled firm.

Samsung Electronics Ltd, a division of South Korea's largest conglomerate the Samsung Group, announced 3 December that third-generation Lee Jae Yong (pictured) has been promoted to president at the family-controlled firm.

May 17, 2010

Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea’s richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.

Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea's richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.

Based on the closing price after the IPO, stocks owned by Lee were valued at $10.71 billion making him the country's richest man, according the Chaebul.com, a specialist website that collates information on the country's family-owned conglomerates.
 

March 24, 2010

Lee Kun Hee, the second-generation former chairman of family-controlled Samsung Group, will return to the business as chairman of Samsung Electronics after stepping down as in 2008 following a conviction for tax evasion.

Lee Kun Hee (pictured), the second-generation former chairman of family-controlled Samsung Group, will return to the business as chairman of Samsung Electronics after stepping down as in 2008 following a conviction for tax evasion. (Click here to read our coverage of the story)
 

January 4, 2010

Lee Kun Hee, the second-generation former chairman of family-controlled Samsung Group, received an official pardon last week for his conviction for tax evasion.

Lee Kun Hee, the second-generation former chairman of family-controlled Samsung Group, received an official pardon last week for his conviction for tax evasion.

The family patriarch was given a three year suspended prison sentence in July 2008 after being found guilty of tax evasion. 

December 15, 2009

Samsung Electronics Ltd, a division of South Korea’s largest conglomerate the Samsung Group, announced today third-generation Lee Jae Yong has been promoted to executive vice president and chief operating officer in a management reorganisation.

Samsung Electronics Ltd, a division of South Korea's largest conglomerate the Samsung Group, announced today third-generation Lee Jae Yong (pictured) has been promoted to executive vice president and chief operating officer in a management reorganisation.

The company also announced the promotion of Choi Gee Sung to the CEO role. In the statement released by the conglomerate this morning Choi said the new management structure was intended "to prepare for the challenges and opportunities ahead."

August 18, 2009

The former chairman of Samsung, second-generation Lee Kun Hee, has been convicted of breach of trust over a bond deal carried out in 1999 that was aimed at transferring ownership of the group to his son.

The former chairman of Samsung, second-generation Lee Kun Hee (pictured), has been convicted of breach of trust over a bond deal carried out in 1999 that was aimed at transferring ownership of the group to his son.
 
The 67-year-old was given a three-year prison sentence that has been suspended for five years because of his contribution to Samsung's growth.
 

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