Samsung Electronics Vice Chairman Lee Jae-yong is known to be stepping down as a member of the corporate board.

An industry official has unveiled that Lee will not extend his term as a board member when it expires on October 26th.

Lee was appointed to the board of directors during a shareholders meeting on October 27th 2016. The tenure cannot exceed three years and his term expires on the 26th.

Even as he steps down from the board, he is expected to continue as vice chairman which means he will still be Samsung group's de facto chief.

Meanwhile Lee faces the first hearing on October 25th in a massive corruption scandal involving the former Park Geun-hye administration after the Supreme Court had ordered a retrial of the case.