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Samsung chief visits Middle East to explore new businesses

Samsung's executive chairman, Lee Jae-yong, explored new business opportunities in Saudi Arabia, Egypt, and Israel during the Chseok holiday. During his visits, he also inspected ongoing projects.
08.10.23 | Source: Sun Sentinel

Samsung’s Executive Chairman Lee Jae-yong visited Saudi Arabia, Egypt, and Israel during the Chuseok holiday (Korean Thanksgiving festival) to explore potential business opportunities. The visit is part of an ongoing initiative by Lee, who has been leading the company's management since 2014, to personally visit overseas sites to observe local businesses and build relationships with global company leaders. While in Saudi Arabia, Lee inspected a tunnel construction site for the NEOM mega-city project. Part of Saudi Arabia's Vision 2030 national reform strategy, the NEOM project is a futuristic city that Samsung C&T is contributing to by building an underground railway. In a meeting with employees in Saudi Arabia, Lee described the Middle East as a 'treasure trove of opportunities for future growth and innovative technologies'. He encouraged his employees to take advantage of these opportunities, despite being far from their families in Korea. Before visiting Saudi Arabia, Lee was in Egypt, another significant strategic location for Samsung’s business operations, where he visited their factory in Beni Suef. He inspected the production sites for TV and tablet PCs and discussed Samsung’s business strategies in the region. Lastly, in Israel, known for its robust tech startup scene, he oversaw Samsung's investments and innovation initiatives at the company’s R&D center. Overall, Lee's visits serve to underline Samsung's commitment to expanding and innovating their operations across the Middle East.