Lee Jae- Yong also known as Jay Y. Lee is the man behind one of the largest electronic conglomerates namely Samsung. Lee is the Vice Chairman of the company where his father Lee Kun-hee is the chairman. The South Korean media has honored him with the title ‘Crown prince of Samsung’. Right now, Lee is rated as the third richest person in South Korea with an asset worth 7.9 billion US Dollar. In 2014 the Forbes Magazine had rated him to be the most powerful man in South Korea and showered on him the 35 th position of the most powerful and influential people around the world.
Early Life
Lee was born on 23rd June 1968 at Washington DC USA. In the beginning he completed a degree on East Asian History from Seoul National University and later pursued his Master’s in business administration from Keio University.
Family
Parents
Lee is the son of Lee Kun Hee the current chairman of Samsung electronics and his wife Hong Ra-hee. They also have three daughters named as Lee Boo-Jin, Lee Seo- Hyun and Lee Yoon-Hyung. Lee –Kun- hee is the third son of Lee Byung –Chull who is the founder of Samsung group. Lee –Kun- hee the current chairman of Samsung group has joined the company in the year 1968 and soon acquired the post of chairperson after his father’s death.
Well, at one point of time the company use to focus on the production of low quality goods at a mass volume but after Lee Kun took over the reign he had restructured the entire process and the company started to meet the international standard in the business arena.
Wife and Children
Lee is a man who is very rarely seen in public and is devoid of publicity. He and his wife Im Se-ryung have two children. Lee has divorced his wife in the year 2009.
Career
After completing his business administration degree Lee joined Samsung electronics in the year 1991. He started his journey as the General Manager in the company. Over the years he has served the company in various roles like as assistant managing director, managing director, excutive vice president, president and now as the Vice chairman. Lee is considered to be a very efficient man responsible for the growth of the company. He has been appreciated in strengthening a good relationship with Google Inc CEO Larry Page and Apple CEO Tim Cook. Recently Lee has introduced GalaxyS6 smartphone in the market.
Under Lee’s guidance Samsung electronics the company has introduced many new products with variable variety in the market and all are running quite successfully. The brand positioning of the company remains very strong though there are many competitors in the market. Not only in mobile phones but Samsung electronics has also created a huge demand for other electronics product like Television, Refrigerator and some other domestic appliances. The promotional strategy of the company remains to be very clear and promising. In the last few years Samsung has also made its presence in the Silicon Valley, California where the company concentrates on the development of its products.
Other than serving the company Lee is very much involved into horse riding and golf.