MADRID, 27 Oct. (EUROPA PRESS) -

The board of directors of Samsung Electronics has approved the appointment as executive president of the multinational company Lee Jae-yong, son of the previous president and grandson of the company's founder.

The rise of the only son of the former president of Samsung, the late Lee Kun-hee, who inherited the empire built by his father Lee Byung-Chul, formalizes a leadership that Lee Jae-yong exercised de facto since his father suffered a heart attack in 2014 before passing away in 2020.

Lee Jae-yong, 54, was one of the 1,700 beneficiaries of a pardon granted by the South Korean government last August on the anniversary of the victory over Japan in 1945.

The Samsung heir was then on parole after being sentenced to two and a half years in prison for a corruption scandal that also affected former South Korean president Park Geun Hye.

Samsung Group was founded in 1938 by Lee Byung-Chul, the father of Lee Kun-hee, who is considered the architect of the transformation of the conglomerate, since he took over the management of the company in 1987, into the largest company in South Korea. South and a global technological power.