Samsung heir attends key group event
Samsung Vice Chairman Lee Jae-yong, right, talks with Ho-Am Foundation President Sohn Byung-doo during his participation in the Ho-Am Prize ceremony at the Ho-Am Art Hall, downtown Seoul, Monday. / Yonhap
By Kim Yoo-chul
Samsung Electronics Vice Chairman Lee Jae-yong attended the Ho-Am Prize ceremony in place of his father Lee Kun-hee who has been hospitalized since suffering a heart attack last year.
His attendance at the event is the latest in a series of Samsung's ongoing moves toward a smoother power succession to a third-generation.
Lee’s participation came after he recently replaced his father as chairman of two of the Samsung Group's charitable foundations in what officials say is increased influence on the conglomerate by vice chairman Lee.
It was his first attendance at a public event since he was appointed to the chairmanship of the posts.
Officials said that his participation in the event symbolized the start of “Lee’s era,” according to officials.
“The Ho-Am Prize has been regarded as one of the key group events with great care and sincerity by group owner families. Vice Chairman Lee’s attendance means that he obviously became the face of Samsung Group,” an industry official said.
The award was established by his father Lee Kun-hee in 1990 in memory of Samsung founder Lee Byung-chull whose penname is “Ho-am.”
The vice chairman made no statement or speech at the ceremony. He only applauded with other participants when awards were given.
He also attended a dinner meeting with the prize winners to encourage them at Hotel Shilla with his mother Hong Ra-hee, according to group officials.
Among 550 key participants that attended the event were former ministers, presidents of major universities and other influential government officials and politicians, as well as senior Samsung executives.
The junior Lee failed to appear at last year's Ho-Am event due to Chairman Lee's health problems. This year marked 25th anniversary of the award.
The awards went to experts in the fields of science, engineering, medicine, arts and community service.
Yonsei University Professor Cheon Jin-woo was the winner for his work on nano-materials in the category of science. UCLA Professor Kim Chang-jin got the prize for his work to electrowetting in the engineering category.
Seoul National University Professor Kim Sung-hoon received the medical award for his work in cell development. Kim Soo-ja was the winner in the category of arts and nurse Baek Young-shim won the community service award.