Samsung appoints convicted heir Jae-yong to top job

South Korean electronics giant Samsung has declared convicted heir and de facto boss Lee Jae-yong as its executive chairman.

The symbolic move means the world's biggest smartphone manufacturer will now be officially run by the third generation of its founding family.

Mr Lee_ who was convicted of bribery and embezzlement in 2017_ was granted a special presidential pardon in August.

He was imprisoned twice for bribing a former president.

"The Board cited the current uncertain global business environment and the pressing need for stronger accountability and business stability in approving the recommendation_" the company said in a statement.

The announcement formalises the role Mr Lee - who is also known as Jay Y Lee - has held since 2014. He took over after his father_ the late Samsung Group chairman Lee Kun-hee_ was hospitalised. He died in 2020.

The 54-year-old tech tycoon has been vice chairman of Samsung Electronics_ the crown jewel of South Korea's biggest business conglomerate_ since 2012.

In August last year_ Mr Lee was released from a South Korean prison on parole after serving 207 days in jail.

It was just over half the sentence he received after being convicted in January.

In a statement_ then-President Moon Jae-in's office said his release was made in the national interest and asked for understanding.

"We are well aware that there are supporting and opposing views on Vice-Chairman Jay Y Lee's parole. The views of the people who are opposed are also right_" it said.

At the time_ the country's Justice Ministry said it made the decision to release Mr Lee after considering the effects of the pandemic on South Korea's economy and global markets.

A year later_ he was pardoned by new President Yoon Suk-yeol.

Mr Lee was found guilty of bribery_ embezzlement and concealment of criminal proceeds worth about 8.6 billion won ($6m; £5.2m).

The case involved the country's former President Park Guen-hye_ who was also jailed for bribery and corruption.

Samsung Electronics was founded by Mr Lee's grandfather and he has been the de facto chief of the company since 2014.