The man who transformed South Korea’s Samsung brand into the world’s largest electronic powerhouse has returned as chairman of its flagship unit.
It comes four months after Lee Kun-hee was granted a presidential pardon for tax evasion.
Fund managers and analysts say his return will give the conglomerate clearer direction and speed up big management decisions.
“Chairman Lee’s return will provide a dynamic force for the new business of Samsung Electronics, we expect employment expansion, renewed investment and an acceleration of new enterprise. So, it is a favorable factor in the stock market.” said market analyst Shim Jae-youb.
Samsung is facing fierce competition in key businesses such as chips and TVs, and is having to cultivate new revenue sources.
The company is studying the viability of areas like health, environment and renewable energy.