'China well aware of Samsung'
By Kim Yoo-chul
Lee Jay-yong
The heir-apparent at Samsung said he feels a greater responsibility to maintain momentum in the group’s key businesses as drastic advances by Chinese rivals are threatening the technology heavyweight.
``I feel a responsibility,’’ Samsung Electronics Vice Chairman Lee Jay-yong told reporters upon his arrival at Gimpo International Airport from a trip to China, Tuesday.
Lee, who is the only son of Samsung Chairman Lee Kun-hee returned home from the Boao Forum for Asia in China. Lee was named as a new board member of the regional forum, replacing SK Chairman Chey Tae-won who resigned from the post due to “personal reasons.”
The vice chairman said he met with Chinese President Xi Jinping twice during the session and discussed several pending issues. Samsung is heavily investing in China _ currently building a $7 billion NAND flash factory and $2.8 billion LCD factory there.
The two met before in February and August 2010 for talks on cooperation. A Samsung spokesman refused to give out more details about the most recent Lee-Xi meeting.
Lee said the rise of Samsung Electronics is well-regarded as a ``role model’’ for many Chinese companies and added politicians there are well aware of the advantages of Samsung’s business models.
``President Xi Jinping and other Chinese officials that I met were very well aware of Samsung and Korea. We should do more. They know exactly the place of our first chip factory in China. I also heard that there is a special task force studying Samsung Electronics,’’ Lee told reporters.
Samsung is the biggest smartphone maker in China, the home of rivals ZTE and Huawei. Also, it has a lead in the sales of televisions and other appliances there due to partnerships with major distribution firms.