Lee Jae-yong promoted to president of Samsung Electronics

Lee Jae-yong, 42, son of Samsung Group chairman Lee Kun-hee and vice president of Samsung Electronics, was promoted to its president Friday. Lee will continue to assume his role of chief operating officer (COO) at Samsung Electronics.

In a year-end reshuffle of Samsung Group executives, Choi Gee-sung, president and chief executive officer of Samsung Electronics, was promoted to vice chairman and will continue to assume the CEO position, a spokesman said.

Lee Bu-jin, 40, eldest daughter of the chairman and executive managing director of theme park Eeverland and Hotel Shilla, was promoted to president of the two.