Samsung Electronics has officially appointed Jay Y. Lee as the Executive Chairman of the South Korean tech giant. The decision was made by the Board of Directors of Samsung Electronics.
The Board approved the appointment, which was recommended by Independent Director and Board Chairman Han-Jo Kim.
The Board cited the current uncertain global business environment and the pressing need for stronger accountability and business stability in approving the recommendation.
Meanwhile, in the third quarter of 2022, Samsung’s financial results record revenue of KRW 76.78 trillion, an operating profit of KRW 10.85 trillion.
The expenditure reached KRW 12.7 trillion, including KRW 11.5 trillion spent in the DS Division and KRW 0.5 trillion in SDC. The cumulative total for the January-September period is KRW 33 trillion, with KRW 29.1 trillion allocated to the DS Division and KRW 2.1 trillion to SDC.
According to the company, this year’s capital expenditure is expected at approximately KRW 54 trillion, including KRW 47.7 trillion allocated to the DS Division and KRW 3.0 trillion to SDC. Read the full report here.