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Samsung heir vows support for startups

All News 14:36 July 06, 2020

SEOUL, July 6 (Yonhap) -- Samsung Electronics Vice Chairman Lee Jae-yong on Monday vowed support for startups in another on-site visit amid global uncertainties.

Lee, the de facto leader of South Korea's top conglomerate Samsung Group, visited the tech giant's startup incubation center in Suwon, south of Seoul, and encouraged workers at its in-house startup incubation program named C-Lab.

C-Lab has offered opportunities for the company's employees to launch startups with their creative ideas since 2012. So far, more than 160 workers have established 45 startups through its in-house program, according to Samsung.

This photo provided by Samsung Electronics Co. on June 30, 2020, shows Samsung Electronics Vice Chairman Lee Jae-yong (2nd from L) listening to an executive's briefing during a visit to a production facility of Semes Co., a Samsung group affiliate that makes semiconductors and display manufacturing equipment, in Cheonan, some 90 kilometers south of Seoul. (PHOTO NOT FOR SALE) (Yonhap)

Starting in 2018, Samsung expanded its C-Lab program to support startups outside the company.

"The future starts from a dream," Lee said during his meeting with employees. "Let's continuously make opportunities."

Lee has been active in making on-site visits to Samsung's business units in recent weeks.

Last month, he visited Samsung's chip R&D center, semiconductor equipment manufacturing unit and home appliance business division to check their plans to overcome uncertainties sparked by the COVID-19 pandemic and renewed trade tensions between the United States and China.


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