Former Samsung chairman Lee to return to post

SEOUL, South Korea (AP) — Lee Kun-hee, the former chairman of Samsung Electronics who was convicted of tax evasion and later pardoned by South Korea’s president, is returning to lead the company after a nearly two-year absence, Samsung said yesterday.

The 68-year-old Lee is a South Korean corporate icon and credited with turning the company into a major force in the global electronics industry. He was indicted on charges including tax evasion in 2008 and resigned from his post.

There had been widespread speculation in South Korea that Lee would return to the company after he received a special presidential pardon late last year.

The decision to call Lee back to the boardroom came at a meeting Wednesday of a committee of presidents of various Samsung businesses, said company spokesman James Chung. Lee expressed his intention to return as chairman, Chung said.

Lee is the son of the founder of the Samsung Group conglomerate, of which Samsung Electronics is the flagship company.

His return to Samsung comes after a record year for sales in 2009. The company said Monday it expects double-digit percentage growth in sales this year as the global economy continues to recover.

Over the past decade Samsung has become one of the world’s top technology companies in both consumer electronics and some of the key components that make them operate.

The Suwon, South Korea-based corporation is the world’s largest manufacturer of flat screen televisions and the biggest producer of computer memory chips and liquid crystal displays. It ranks second behind Finland’s Nokia Corp. in mobile phones.

Lee has been considered the driving force behind the company’s rise through his determination to improve quality.