Samsung Electronics Vice Chairman Lee Jae-yong is likely to leave the board of the Boao Forum, known as Asia’s Davos Forum, as he is unable to carry out his role.
His term as a board member ends in April. The heir apparent of the nation’s largest conglomerate is not likely to seek another five-year term, industry observers said.
Lee took the board member position from SK Group Chairman Chey Tae-won in 2013. The board includes Singapore’s former Prime Minister Goh Chok Tong and former US Secretary of the Treasury Henry Paulson.
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Lee Jae-yong, vice chairman of Samsung Electronics Co., enters the Seoul High Court in this file photo taken Nov. 29, 2017. (Yonhap) |
Last year, Lee stepped down from the outside director post of Exor, the parent company of Fiat Chrysler Automobiles. The 50-year-old has been jailed since February over bribery charges involving former President Park Geun-hye. A lower court sentenced Lee to five years in prison, and an appeals court is set to deliver its ruling early next month.
Launched in 2002, the Boao Forum serves as a dialogue platform that brings together government, business and academic leaders in Asia and other regions.
By Cho Chung-un (
christory@heraldcorp.com)
