Lee Jae-yong, the heir apparent of South Korea's No. 1 conglomerate Samsung Group, is seeking to take a low-key stance for the new year and to continue efforts to streamline and reorganize the group's operations, industry watchers said Monday.

A Samsung Group official said that like in 2015, there will be no group-wide New Year's ceremony chaired by Jae-yong, but the crown prince will instead hold meetings with executives from each affiliate to set yearly business plans.

Lee Kun-hee, the Samsung Group's head and Jae-yong's father who was hospitalized in 2014, has annually announced a New Year's statement that puts forward business guidelines for the group.

Ever since his hospitalization, Kun-hee's only son Jae-yong took the helm of the group, but has refrained from taking over the symbolic role of his father, although he did make significant group-wide reorganizations to pave the way for his managerial inheritance.

Jae-yong plans to hold a meeting on Monday with Samsung's affiliates based south of Seoul, such as Samsung Electronics Co. and Samsung Display Co., and meet with the remaining Seoul-based arms on Tuesday.

Samsung Electronics, meanwhile, held its own new year event, where Vice Chairman Kwon Oh-hyun said the company must seek innovations through convergence among different industrial segments, such as mobile and health care.

The tech giant added that global financial uncertainties and economic slowdowns will continue throughout 2016, making it urgent for the firm to embrace the changing business structure that puts more emphasis on software than traditional hardware. (Yonhap)