Samsung Scion Seeks Further Control Over Conglomerate

○ “Samsung Electronics chairman Lee Kun-hee’s daughters, president and chief executive of Hotel Shilla Lee Boo-jin, in the center, vice president at Cheil Industries and Cheil Worldwide Lee Seo-hyun, on the left, and his only son Samsung Electronics’ chief operating officer Jay Lee are seen after the Ho-am prize award ceremony in Seoul in this June 1, 2012 file photo. Reuters

Samsung Electronics Co.’s heir apparent, Jay Y. Lee, has registered an intention to buy small stakes in other companies in the Samsung conglomerate, a move that analysts say appears aimed at smoothing the shift of ownership of the group from his ailing father.

 

Samsung Group said on Tuesday Mr. Lee has put in a request for approval from local financial regulators to buy a 0.1% stake in both Samsung Life Insurance Co. and Samsung Fire & Marine Insurance Co., valued at a combined 25.2 billion won ($24 million).

 

In the complex map of cross shareholdings for the 70-something Samsung affiliates, Samsung Life sits near the top of the food chain as a major shareholder of core asset Samsung Electronics. Samsung Electronics Chairman Lee Kun-hee currently holds the single largest stake in Samsung Life of 20.8%, followed by 19.3% owned by the group’s de facto holding company, Cheil Industries Inc. ”