Chuseok Holiday Business Trip to Mexico
"Bold Challenge, Pioneering the Future"
Mexican President Also Requests Support for Expo
Samsung Electronics Vice Chairman Lee Jae-yong having a meal at the company cafeteria of Samsung Engineering's Dos Bocas refinery construction site on the 10th (local time). (Photo by Samsung Electronics)
[Asia Economy Reporter Moon Chaeseok] Samsung Electronics Vice Chairman Lee Jae-yong visited Mexico during the Chuseok holiday to continue his on-site management through 'cafeteria communication.' Acting as a special envoy of President Yoon Suk-yeol, he met with the President of Mexico to request support for the '2030 Busan World Expo.' Afterward, he made a surprise visit to local factories for on-site inspections and communication with employees. This marks the first time he has visited overseas business sites during a holiday since his pardon on August 12 and subsequent visits to domestic business sites to increase employee communication.
Samsung Electronics Vice Chairman Lee Jae-yong met with Mexican President Andr?s Manuel L?pez Obrador at the presidential office in Mexico City on the 8th (local time) to request support for hosting the "2030 Busan World Expo" and took a commemorative photo. (Photo by Samsung Electronics)
On the 12th, Samsung Electronics announced that Vice Chairman Lee met with Mexican President Andr?s Manuel L?pez Obrador at the presidential office in Mexico City to request support for the 2030 Busan Expo. During the visit on the 8th (local time), Lee discussed medium- to long-term cooperation plans between Samsung and Mexican companies, according to Samsung Electronics.
According to Samsung Electronics, Lee explained to President L?pez Obrador that "the Busan Expo will be a venue presenting visions and innovative technologies for a better future for humanity," emphasizing that Busan is the optimal location for hosting the Expo.
Vice Chairman Lee Jae-yong of Samsung Electronics having a meal at the cafeteria of the home appliance factory in Queretaro, Mexico, on the 9th (local time). (Photo by Samsung Electronics)
Afterward, Vice Chairman Lee visited Samsung Electronics' home appliance factory, Harman factory, and Samsung Engineering construction site in Quer?taro, Mexico, conducting on-site inspections one after another.
Samsung Electronics stated that the visit was made to encourage employees working overseas far from their families during the Chuseok holiday, who could not take a break.
Vice Chairman Lee Jae-yong of Samsung Electronics inspects the Samsung Electronics refrigerator production plant in Queretaro, Mexico, on the 9th (local time). (Photo by Samsung Electronics)
This was Lee's first visit to the Quer?taro home appliance factory. Upon arrival, he toured washing machines and refrigerators displayed in the lobby, reviewing local reactions to the products and sales status.
Samsung Electronics manufactures household appliances such as refrigerators and washing machines for the Americas market at the Quer?taro factory. Meanwhile, TVs are produced at the Tijuana factory, also located in Mexico.
Since establishing the Samsung Electronics color TV factory in Mexico in 1988, the company began producing TVs for the North American market. In 1996, Samsung created its first overseas integrated production complex in Tijuana, Mexico, consolidating factories of Samsung Electronics, Samsung Electro-Mechanics, and Samsung SDI.
Vice Chairman Lee Jae-yong of Samsung Electronics carefully inspecting the site during his visit to Harman's Mexico plant on the 8th (local time). (Photo by Samsung Electronics)
During the on-site inspection of Harman, Vice Chairman Lee encouraged employees, saying, "I sincerely thank all of you who are dedicating yourselves on-site for customers and colleagues without being able to spend the holiday with your families. Although the situation is difficult now, let us pioneer the future by creating new opportunities through bold challenges."
Harman, the world's largest automotive parts company, was acquired by Samsung through a merger and acquisition led by Vice Chairman Lee in 2017 and has a production plant in Mexico.
Vice Chairman Lee Jae-yong of Samsung Electronics visited the Samsung Engineering Dos Bocas refinery construction site on the 10th (local time) and took commemorative photos with employees. (Photo by Samsung Electronics)
Following his visits to domestic business sites last month, Vice Chairman Lee continued 'cafeteria communication' with employees over meals of rice cake soup and bibimbap at the Samsung Engineering site. As during his domestic visits, he willingly agreed to employee photo requests. He personally inspected 'Samsung Camp,' an employee living space consisting of accommodations, dining halls, convenience stores, and rest areas. After hearing from local 'working moms' about the challenges of balancing childcare and work, he visited employees' accommodations to check on their difficulties.
After dining in the cafeteria, he took commemorative photos with Samsung Engineering employees and staff from Hyundai Green Food, the partner company managing local accommodations and dining facilities. Samsung Engineering secured the 'Dos Bocas Refinery Project' worth 4.5 trillion KRW from PEMEX, Mexico's state-owned oil company subsidiary, in 2020. This is the largest EPC (Engineering, Procurement, and Construction) project in Samsung Engineering's history.
Samsung Electronics Vice Chairman Lee Jae-yong visited Daeyoung Electronics' Mexico factory, a domestic partner company of Samsung Electronics, on the 9th (local time) to review the business status. (Photo by Samsung Electronics)
Notably, during this Mexico trip, Vice Chairman Lee also made a surprise visit to Daeyoung Electronics, a partner company.
Daeyoung Electronics is a domestic partner company that entered Mexico alongside Samsung Electronics. It has maintained a cooperative relationship with Samsung Electronics for over 25 years since 1996, producing power control components necessary for home appliance production locally and supplying them to the Quer?taro factory.
Samsung Electronics Vice Chairman Lee Jae-yong visited the construction site of Samsung Engineering's Dos Bocas refinery on the 10th (local time) and greeted employees. (Photo by Samsung Electronics)
Regarding Vice Chairman Lee's active movements following his pardon on Liberation Day, some in the business community speculate that his promotion to chairman may be imminent. Lee, 54 years old this year, has remained vice chairman for 11 years since his promotion at age 44 in December 2012. He is the only head of a top five conglomerate who has not yet become chairman.
After the Chuseok holiday, Vice Chairman Lee's 'New Samsung' initiatives are expected to accelerate. According to the business community, Samsung Electronics plans to soon declare participation in the global campaign 'RE100,' aiming to supply 100% of its business site energy from renewable sources by 2050.
This year also marks the 30th anniversary of the late Chairman Lee Kun-hee's 'New Management Declaration' in Frankfurt, Germany, where he famously said, "Change everything except your wife and children." Given the high interest in Lee Jae-yong's 'New Samsung,' it is anticipated that related messages will be delivered.
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