Samsung Electronics assigns ex-chairman's son to emerging markets

SEOUL, May 23, 2008 (Asia Pulse Data Source via COMTEX) -- SSNJY | Quote | Chart | News | PowerRating -- Samsung Electronics Co. said Thursday it will reassign Lee Jae-yong, son of former Samsung Group head Lee Kun-hee, to a post covering the company's business in emerging markets as part of the company's personnel reshuffle.

The junior Lee, currently vice president in charge of customer relations at the company, will travel to countries including China, India and Russia to work with local employees, the South Korean company said in a statement.

The reassignment follows the senior Lee's resignation as chairman last month, when he was indicted by prosecutors on charges of establishing slush funds, engaging in bribery and masterminding shady intra-group transactions that helped him pass control of the group to his only son.

Meanwhile, the company said its household appliance business will be consolidated into its digital media division that includes production of liquid crystal display televisions.

The company will also establish a stand-alone MP3 player business team from the one that is currently part of the digital media division, Samsung said in the statement.

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