A much discussed topic of late is about the background of appointing Senior Exec. Vice President Lee Joon-hee of Samsung Electronics to the helm of Samsung SDS.
New Samsung SDS President Lee is a seasoned IT expert who graduated from Seoul National University’s Electronics Department. He obtained a master’s degree and a doctorate in electric and electronics engineering from Massachusetts Institute of Technology (MIT).
President Lee joined Samsung Electronics DMC Research Institute in 2006.
Before that, he held positions, such as head of the technology strategy team at the Mobile Experience Business as well as chief of the development team and head of the strategy marketing team at the Network Business.
President Lee has grown to become a mobile expert, as he has devoted himself to establishing the Galaxy series as Samsung Electronics’ representative mobile brand.
He also participated in the commercialization of the world’s first 5G telecom network in Korea.
President Lee’s major stints in the mobile sector differ from the business boundaries of Samsung SDS. The mainstay businesses of Samsung SDS are cloud and logistics systems.
In the past, Samsung SDS depended on system integration and system maintenance for its major income sources.
Under the stewardship of former president Hwang Sung-woo, who took office in 2021, Samsung SDS focused on cloud and logistics by reinventing its constitution.
These efforts paid off: the cloud business saw sales maintain solid growth every year, becoming its mainstay business.
The company also saw sales in the logistics business rise, but operating profit remained lower.
Amid the background behind the development of Samsung SDS, appointing President Lee to head the company may be evaluated highly for the expertise of an IT veteran with stints in areas ranging from strategy marketing to mobile technology of Samsung Electronics.
Industry analysts said President Lee’s expertise may suggest a desire to manage Samsung SDS as it acquires rapidly changing technologies, creating products and services tailored to meet consumers’ needs and marketing.
The gem of Samsung SDS is suggesting solutions designed to solve problems consumers experience and evolving them into businesses.
The reason is that President Lee has been evaluated highly for his track record of evolving the Galaxy, a mega-brand, while he was in the technology and strategy marketing sectors.
In the latest reshuffle, former president Hwang resigned from Samsung SDS after a four-year term.
Hwang, once a professor at Korea University’s Electronics Department, joined Samsung Advanced Technology Institute (SAIT) in 2020.
He rose up to SAIT president in 2020 before he was transferred to Samsung SDS president in 2021.
In his in-house departure message, former president Hwang said, “I extend thanks to the staff for enduring fundamental changes the company had made and urging them to warmly welcome President Lee, an IT expert.”
Samsung SDS Logs 3,569 Billion Won in Sales, 252 Billion Won in Operating Profit in Q3
Provisional figures, released by Samsung SDS showed that the company chalked up 3,569.7 billion won in sales and 252.8 billion won in operating profit in the third quarter of the year.
Samsung SDS saw Q3 sales and operating profit surge 6 percent and 14.4 percent, respectively, compared to the previous quarter.
The company witnessed Q3 sales and operating jump 11.3 percent and 31 percent year-on-year, respectively, compared to the same period of 2023.
Sales in the IT service business rose 8 percent year-on-year to 1,629.6 billion won. In particular, sales in the cloud business surged 35.3 percent year-on-year to 637 billion won thanks to rising demand.
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