Samsung Electronics vice chairman Lee Jay-yong is attending this week’s regional economic forum hosted by China, a company official said Tuesday.

Lee, the heir apparent to his father, Samsung Group chairman Lee Kun-hee, is among the South Korean business leaders joining the annual forum that started in China’s southern resort town of Boao earlier in the day, the official said. Chinese Premier Li Keqiang will give a keynote speech during the four-day forum.

Host China wants to develop the so-called Boao forum into a regional counterpart of the World Economic Forum in Davos, Switzerland.

China’s Foreign Ministry spokesman Hong Lei told reporters last week that Beijing will “showcase China’s overall thinking and major measures in terms of economic development at the current stage” during the forum.

“We hope that delegates will pool their wisdom in the light of the theme of the conference, build up consensus and confidence, maintain the momentum of economic stability and growth in Asia and emerging markets, and open up a brighter future for Asia,” Hong said. (Yonhap)