Lee Jae-yong, the Samsung Electronics Vice Chairman will head to Vietnam this week on a business trip aimed at checking Samsung’s key smartphone production lines amid a decline in its global market share, industry sources said Sunday.
Lee is scheduled to leave on Tuesday and stop at Hanoi and Ho Chi Minh city, sources familiar with the matter told Vietnam Insider. The purpose of the trip is to check factories in Vietnam and meet with government and industry officials there, according to the sources.
The sources declined to give further details about itineraries of Lee Jae-yong, citing that part of his schedule is yet to be determined.
It will be seventh overseas trip of Lee Jae-yong since he was released from jail early this year on a suspended prison term for bribery conviction linked to a corruption scandal involving a previous South Korean president.
Samsung is the largest foreign investor in Vietnam and accounts for around a quarter of the country’s total export revenue. Samsung has invested $17.3 billion in eight factories and one research and development center in Vietnam, turning the country into its largest smart phone production base.