Samsung scion joins board as profits plunge on Note 7 crisis

Seoul

SAMSUNG heir apparent JY Lee took a major step towards control of the family-run conglomerate on Thursday, joining the board as the company reported a 30 per cent profit plunge following a highly damaging smartphone recall crisis.

The move is being seen as a coronation of sorts of the 48-year-old Mr Lee, who is already vice-chairman of Samsung Electronics and has seen his influence grow since his father, Samsung patriarch Lee Kun-hee, suffered a heart attack and was hospitalised in 2014.