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(LEAD) Samsung Welfare Foundation names tycoon's daughter as new chief

Industry 17:01 December 06, 2018

(ATTN: ADDS details throughout)

SEOUL, Dec. 6 (Yonhap) -- Samsung Welfare Foundation said Thursday it has named Lee Seo-hyun, a daughter of hospitalized Samsung Electronics Chairman Lee Kun-hee, as its new director.

The new head of Samsung Welfare Foundation also stepped down from her position as president of the fashion division of Samsung C&T Corp., the de facto holding company of the family-controlled conglomerate Samsung.

She will start her four-year term on Jan. 1.

Seo-hyun is the second daughter of Kun-hee, who has been bedridden since 2014. The business tycoon's eldest daughter is Boo-jin, who is the president and CEO of Hotel Shilla, a hotel and resort arm of Samsung.

Samsung Electronics Vice Chairman Lee Jae-yong is his only son.

Samsung Welfare Foundation, one of Samsung's four foundations, was kicked off in 1989 by Kun-hee in an effort to expand Samsung's charity projects.

Jae-yong, has been leading Samsung Life Public Welfare Foundation and Samsung Foundation of Culture, succeeding his father, along with his grandfather, Lee Byung-chull, who founded Samsung.

Former Prime Minister Kim Hwang-sik, who was in office from 2010 to 2013, currently governs Ho-am Foundation, another Samsung foundation, which grants prizes to those making contributions in various areas, including academics, the arts, and social development.

Samsung Welfare Foundation Director Lee Seo-hyun (Yonhap)

colin@yna.co.kr
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