'New Samsung' Lee Jae-yong's Aggressive Moves Reach Panama... Expo Support Request (Comprehensive)

On the 13th, President Cortizo Requests Support for Busan Expo
Also Holds Latin America Regional Heads Meeting... Reviewing Latin America Business and Strategy

Samsung Electronics Vice Chairman Lee Jae-yong visited the Presidential Palace in Panama City on the 13th (local time) to request support from Panamanian President Laurentino Cortizo for hosting the 'Expo 2030 Busan World Expo.' The photo shows Vice Chairman Lee and President Cortizo meeting at the Presidential Palace in Panama. (Photo by Samsung Electronics)

[Asia Economy Reporter Moon Chaeseok] Lee Jae-yong, Vice Chairman of Samsung Electronics, who has been actively engaging in on-site management following his pardon and reinstatement on Liberation Day, recently met with the President of Panama to request support for the '2030 Busan World Expo.' While holding a meeting with local branch heads to review business operations, he continued his unprecedented communication with employees.

On the 14th, Samsung Electronics announced that Lee met with Laurentino Cortizo, President of Panama, at the presidential palace in Panama City to request support for hosting the '2030 World Expo' in Busan. The day before (local time), Lee discussed with President Cortizo not only support for the Busan Expo but also ways to expand future cooperation between Samsung and Panamanian companies.

Earlier, on the 8th (local time), Lee had visited Andres Manuel Lopez Obrador, President of Mexico, to request support for hosting the Busan World Expo. He continued similar activities in Panama.

Regarding the Busan Expo hosting, Lee and Samsung executives met with government officials from Spain, Sweden, Hungary, Vietnam, Nepal, Costa Rica, and South Africa to request support for the bid. Outdoor advertisements promoting the Busan World Expo were installed in Nepal, Cambodia, South Africa, Fiji, and East Timor. From the 2nd (local time), during the five-day IFA 2022, Europe’s largest home appliance exhibition held in Berlin, Germany, Samsung supported the bid through videos and other materials.

Lee Jae-yong, Vice Chairman, attending the Latin America regional heads meeting held at Samsung Electronics' Panama branch. (Photo by Samsung Electronics)

Additionally, Lee held a meeting with branch heads from the Latin America region at Samsung Electronics’ first overseas branch, the Panama branch, to review the status and strategy of business in Latin America. In Panama, Samsung Electronics has a sales branch and Samsung SDS operates a logistics business branch.

The Panama branch is Samsung Electronics’ first overseas branch. Panama is also the country to which Samsung Electronics first exported color TVs in 1977.

Samsung Electronics Vice Chairman Lee Jae-yong taking a commemorative photo with employees of the Panama branch. (Photo by Samsung Electronics)

Following his reinstatement, Lee attracted attention by meeting and communicating candidly with employees not only at domestic business sites and the Mexico branch but also in Panama. During the Chuseok holiday, he did not return to Korea but sent modest holiday gifts to families of employees on long-term business trips who quietly fulfill their roles.

According to Samsung Electronics, Lee gave dried yellow corvina fish gift sets to about 20 long-term business trip employees from Samsung Electronics, Samsung Display, Samsung SDI, Samsung SDS, Samsung Fire & Marine Insurance, and Samsung C&T Corporation. He also gave gifts to a total of 86 employees with multiple children and their families from Samsung Electronics, Samsung Electro-Mechanics, Samsung SDS, Samsung Heavy Industries, and S-1 Corporation. For employees with multiple children, the employees themselves, their spouses, and children in middle school or older received the latest Galaxy foldable phones, while children under 12 received high-performance tablet PCs to support their studies.

A Samsung Electronics official explained, "The reason Vice Chairman Lee sent gifts to families with multiple children is to encourage employees and their families who overcome the difficulties of balancing work and childcare and who dedicate themselves to the company, their families, and society."