Samsung promotes chairman's son to vice chairman

(AP) Samsung Electronics Co. has promoted its chairman's only son to vice chairman, putting the 44-year-old chief operating officer closer to the top leadership position at the world's largest maker of memory chips, mobile phones and TVs.

South Korea's largest industrial group said Jay. Y Lee was promoted as part of the group's annual reshuffle and will assume his new post Wednesday.

Samsung said Lee contributed to the growth of its smartphone and TV businesses by building strong relationships with global business leaders.

Lee, a graduate of Keio University of Japan, is a grandson of Samsung founder Lee Byung-chull and the oldest child of current chairman Lee Kun-hee, South Korea's wealthiest man.