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Samsung Electronics Vice Chairman Lee Jae-yong arrives in Britain

Published: 16 Sep. 2022, 14:50

Samsung Electronics Vice Chairman Lee Jae-yong walks at the Seoul Gimpo Business Aviation Center on June 7, this year, to leave for Europe. [YONHAP]

Samsung Electronics Vice Chairman Lee Jae-yong arrived in Britain on Friday, following his visit to Mexico and Panama.

He is expected to promote Busan’s bid to host the 2030 World Expo as a presidential envoy and possibly attend the funeral of Queen Elizabeth II on Sept. 19. President Yoon Suk-yeol will attend the funeral at Westminster Abbey, according to the presidential office.

A spokesperson at the electronics giant confirmed Lee’s current stay in Britain, but declined to further comment on the purpose of his visit.

Lee’s visit to the country was initially expected in the second week of September, but the plan was reportedly delayed due to the death of the queen.

Industry insiders are closely following whether Lee will be involved in any discussions related to Samsung Electronics’ ongoing merger or acquisition attempts.

Local media outlets predicted that the latest visit could become a major opportunity to discuss a potential acquisition of British chip designer Arm.

Samsung Electronics executives made it public that talks are underway for a large-scale deal, but have not confirmed the target.

BY PARK EUN-JEE [[email protected]]