Urgent b/b Samsung to promote chairmans son to president

Lee Kun-hee, chairman of Samsung Electronics Co., said Wednesday that he will promote his only son to president at a year-end personnel reshuffle, a move many observers say marks a step closer to his succession as head of Samsung Group.

Last year, Lee Jae-yong, 41, was promoted one level from senior vice president to chief operating officer (COO) at Samsung Electronics.

The junior Lee started his career at Samsung Electronics in 1991 as part of a carefully drafted plan to groom him as the future heir of Samsung Group.