Lee Sang-hoon is serving time for violating labor union laws.
Latest from Charlie Osborne
The focus is on boosting OLED and QD, while also reducing basic LCD production.
Analysts, however, see the move as little more than a stop-gap measure.
Jay Lee is denying all charges laid at his feet as part of a corruption case which has engulfed Samsung.
The company reportedly wants to boost smartphone manufacturing capacity in the country.
The deal is estimated to be worth $70 million.
UK owners of the Samsung Galaxy Note 7 will have to find alternative routes to return their recalled devices.
You might be able to buy discounted Samsung handsets as early as next year.
The South Korean giant says that low growth is a cause for concern over the coming financial year.
A report accusing Samsung of sidestepping accountability when its workers become sick has outraged the tech giant.