Jay Y Lee appointed as chairman by Samsung

It was announced on Thursday that Jay Y Lee was appointed chairman

The Jay Y Lee is one of the most powerful families in South Korea

Recently, Lee was pardoned by the country's president for his wrongdoings

Lee is also widely known as Lee Jae-Yong. He has been serving as the de facto leader of Samsung since 2014.

It will invest more than $350 billion in businesses and create 80,000 new jobs over the next five years

Most of these jobs are expected to be in South Korea

Its full-year revenue is projected to overreach 2021

Samsung shares rose nearly 1% on Thursday after all these announcements