Samsung’s Lee goes to Italy

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Samsung’s Lee goes to Italy

Samsung Electronics Vice Chairman Jay Y. Lee flew to Italy on Tuesday to attend a board meeting as an outside director of Exor, the controlling shareholder of Fiat-Chrysler Automobiles (FCA).

Besides the meeting, the heir apparent of Samsung Group is expected to visit the tech giant’s overseas offices and factories in Europe.

After the meeting, Lee is scheduled to visit Samsung Electronics Poland Manufacturing, the company’s only European appliance factory.

Samsung Electronics took over the production plant after it acquired Amica’s washer and refrigerator production facility for $76 million in 2010.

In Italy, Lee will focus on the board meeting of the investment company. It will be his first board meeting since he was recommended for a second three-year term last week.

Lee’s ties to the investment company began in 2010, when FCA Group Chairman John Elkann visited Samsung Electronics’ offices in Seocho District, southern Seoul. In 2012, Elkann suggested to Lee that he become an outside director.

Industry sources said Samsung Electronics can benefit from the relationship as its affiliates Samsung SDI and Samsung Electro-Mechanics target the vehicle parts business.

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