IANS | 12 Feb, 2024
Samsung Electronics Chairman Lee Jae-yong has emphasised the
importance of "bold" investments during a visit to Samsung SDI's battery
production line in Malaysia, the company said on Monday.
The
visit was made in Lee's first overseas trip since he was cleared of all
charges in a court ruling on the controversial 2015 merger of two
Samsung affiliates allegedly conducted to help him take over control of
South Korea's biggest conglomerate.
"We should not be focusing
solely on short-term performances, but rather lead changes by rolling
out bold challenges," Lee was quoted by Samsung Electronics as saying
during the visit to the factory in Seremban, 65 kms south of Kuala
Lumpur.
Samsung has been building an additional production line in
the region with a budget of 1.7 trillion won ($1.2 billion) since 2022,
reports Yonhap news agency.
Lee also visited Kuala Lumpur to
check local consumers' responses to the company's latest Galaxy S24
smartphone, the company added.
Last week, prosecutors appealed a
recent court acquittal of Samsung Chairman Jae-yong in a controversial
Samsung affiliate merger case.
The prosecution had demanded a five-year prison sentence for the chief of South Korea's largest conglomerate.
Meanwhile,
Samsung’s fourth-quarter operating profit sank 34.4 per cent from a
year earlier due largely to sluggish semiconductor business but its
memory chip segment turned to the black on recovering demand.