Vice Chairman Lee Jae-yong, Who Has Maintained a Close Relationship with the UAE
[Asia Economy Reporter Park Sun-mi] Samsung Electronics Vice Chairman Lee Jae-yong visited the funeral hall of the late President Sheikh Khalifa bin Zayed Al Nahyan at the Embassy of the United Arab Emirates (UAE) in Korea on the 17th to pay his respects.
It is unusual for a business leader to pay respects at the funeral hall of a head of state not well known in Korea. In diplomatic circles, Vice Chairman Lee's visit to President Khalifa's funeral is seen as influenced by his special ties with the UAE and his relationships with UAE leaders.
Vice Chairman Lee has played a bridging role connecting Samsung and the UAE market through close relationships with UAE leaders. In particular, he has maintained a special relationship with Crown Prince Mohammed bin Zayed Al Nahyan, who has led the country since President Khalifa suffered a stroke in 2014. When the Crown Prince visited Samsung Electronics' Hwaseong plant on February 26, 2019, Vice Chairman Lee personally guided him through the 5G and semiconductor exhibition halls and production lines.
At that time, Crown Prince Mohammed also discussed ways to strengthen cooperation between Samsung Electronics and UAE companies in future industries such as 5th generation mobile communications, semiconductors, and artificial intelligence.
Vice Chairman Lee visited Abu Dhabi in February 2019, just before the Crown Prince's visit to Korea, and in December last year, he attended a private forum held by Crown Prince Mohammed in the UAE.
Industry insiders believe that Vice Chairman Lee's accumulated ties with the UAE could play a role in helping Samsung Electronics seize opportunities in the UAE, which is promoting the Fourth Industrial Revolution. In the past, Samsung has formed partnerships with UAE companies mainly in construction and engineering, but now, in the era of the Fourth Industrial Revolution, it is facing opportunities to expand cooperation into ICT fields such as 5G and semiconductors.
A business official said, "Vice Chairman Lee is playing a bridging role connecting Samsung and the UAE market through close relationships with UAE leaders," adding, "The strong network between Vice Chairman Lee and UAE leaders serves as a solid support for Samsung's pioneering efforts in the Arab market."
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