Samsung heiress Lee Seo-hyun on Thursday resigned from her position as president of Samsung C&T.
The daughter of Samsung chairman Lee Kun-hee and graduate of the Parsons School of Design in New York, Lee Seo-hyun (45) began working for Samsung affiliate Cheil Industries in 2002 before becoming president of Cheil Worldwide, the conglomerate's advertising subsidiary.
She had led Samsung C&T's fashion division since January of 2016 and also owns 5.47 percent of the company's stock.
The Samsung Welfare Foundation said Lee becomes its new director instead. The foundation was established by Lee Kun-hee in 1989 and manages W45.4 billion in assets (US$1=W1,122). She will be officially inaugurated on Jan. 1 next year and serve a four-year term.
She reportedly said she wants to step back from corporate management and devote her time to social causes. A Samsung executive said Lee is a mother of four children "and wishes to devote her time to good causes."
The Leeum, Samsung Museum of Art has also appointed Lee Seo-hyun as the head of its advisory board. One source said Lee "has always been keen on art and is highly likely to assume the leadership of the museum from her mother."
The Leeum has been without a head for the past two years since Lee's mother, Hong Ra-hee, stepped down.