By Kim Yoo-chul
Staff Reporter
The past six or so months of Lee Jae-yong's life could make for any movie director's dream script.
All the requirements for drama are there ― money, divorce and rumors of internal siblings' struggle over the succession to a business empire, and a new lover.
However, the biggest challenge to the director would be how it should end ― a happy ending or tragic denouement.
The only son of Samsung Group's former chairman Lee Kun-hee is now busy writing it himself apparently with Samsung's PR help.
Lee, now senior executive at the age of 42 at Korea's biggest company ― Samsung Electronics ― received a major blow to his reputation as heir apparent when it was disclosed that his wife of 11 years, herself the eldest daughter of a medium-sized chaebol owner, filed for divorce.
It could have headed for a messy one because Lee's wife sought a piece of billions of dollars belonging to her estranged husband. Contrary to public expectations, their divorce proved to be quick.
Lee was captured in a couple of photos leaving the Samsung headquarters. Apparently, Samsung was all out for damage control, bringing an added dose of discipline to his public appearances.
Later, Lee was shown with his right-hand men ― Choi Gee-sung and Lee Yoon-woo, two CEOs at Samsung Electronics ― during their meetings with global industrial heavyweights. Again, by all means, it smacked of a behind-the-scenes elaborate choreography.
Then, the Supreme Court came out with the ruling that cleared a legal path for Lee's ascension.
Another follow-up charm offensive is under way. Lee is once again abroad, meeting industry power people. Samsung officially keeps its usual line of explanation.
"The senior Lee's only son is still trying to better understand the business structures of the group's key affiliates such as Samsung Electronics," a group spokesman said.
But underneath, it is a hive of activity.
"Groundwork for his ascension is under way and such efforts are already paying off in some areas," a high-ranking group source said. "I think Lee is gaining additional support."
Such remarks come a day after Samsung Electronics agreed with China's Huawei to hold regular-based meetings of top executives.
Guided by Samsung Electronics CEO Lee Yoon-woo, the junior Lee was there.
The Chinese company, which provides network infrastructure to both wired and wireless operators, is a rival of Samsung Electronics in China's telecommunication market, while it is a key client for Samsung's memory chips.
The Chinese market is one of the key spots Samsung needs to embrace. It plans to ship more 3G-based strategic smart-phones to meet the growing demand for high-end models.
Company officials say they are shifting strategy to a high- and low-end products mix-up from their earlier target-focus.
Jae-yong plans to fly New York City in early July and is set to meet Sony Chairman Howard Stringer, for the second time in less than two months.
"There are some chances that Lee will discuss the future partnership in the flat-screen joint venture and the 'LED TV' market," said an industry source.
Watchers say it is highly unlikely that the meeting with the Sony chairman will bring immediate results but that it would lay ground for a broad consensus towards pending issues.
Since 2004, the flat-screen joint venture S-LCD, has successfully started operation of a 7-1 line in 2005 and an 8-1 line in 2007.
Analysts say it might be easier for the world's No. 1 LCD TV maker to strengthen its technology partnership with Sony to realize "economies of a scale" on a new TV range in the shortest time.
Meanwhile, Samsung plans to jointly invest with the Tokyo-based company in an 11th-generation LCD mother-glass manufacturing line.
"Considering this, Lee's meeting will have some significance," according to the source.
Early this month, Jae-yong had a brief meeting with Stringer. The top Sony executive made a very rare trip to attend the first shipment of products mass-produced at the 8-2 line held in Tangjeong Crystal Valley, South Chungcheong Province.
Samsung and Sony officials declined to give any information about the meeting.
In May, Lee inspected key facilities in Vladivostok and called top company executives for strategic meetings in former Soviet-bloc countries.
In April, he met with CEOs of Sony and Nintendo after visiting Taiwan in March. In February, he had checked on Samsung's operations in the United States, Europe and China, guided by "the two top executives."
"The key point was that Lee hasn't got any significant track record. But as seen in the latest China trip, some results are now coming up," another high-ranking industry source said. Lee's earlier ventures proved to be all failures, with some questioning his managing capabilities.
To convince his detractors and the skeptical public, Lee needs more tangible results to show. That is set to greatly affect the timing of his ascension, if not whether he will ascend at all.