Samsung Electronics Chairman Lee Jay-yong, who recently took helm of Samsung Group, has set the goal of becoming an unmatched company by nurturing the semiconductor, battery and bio sectors, also known as “BBC,” which will be the backbone of 2nd New Samsung Legacy.
To this end, Samsung will concentrate on investing future technologies and gifted manpower. Chairman Lee is soon expected to declare the “2nd New Samsung Legacy.” His father and the late Chairman Lee Kun-hee came up with the declaration of “Samsung New Management” in Frankfurt, Germany, in 1993.
At that time, Lee Sr. urged his CEOs to “change all things except their wives.” The declaration had served as an opportunity to build a foundation for what the global tech company of semiconductors, smartphones and TVs is now.
Under the stewardship of Chairman Lee Jr., Samsung Group is mostly likely to reveal related investment and management plans soon.
The value of investments Samsung Electronics has invested or will invest during the period between July and upcoming December, is estimated to amount to about 100 trillion won.
In the semiconductor sector, under the stewardship of Chairman Lee, Samsung Electronics will accelerate efforts to become the global No. 1 system semiconductor maker on top of ranking first in the global the DRAM market.
Chmn. Lee has stressed creating a creative corporate culture and nurturing talented manpower on top of being committed to fulfilling its social responsibility. Chairman Lee conducted his first reshuffle of CEOs for 2023 since his inauguration as chairman on Dec. 5.
The personnel change is evaluated to have prioritized gifted, “young-blood” technology manpower.
(from left) Samsung Research President Chun Kyung-hoon, President Kim Woo-joon of the Network Business Division at Samsung Electronics, President Nam Seok-woo in charge of overseeing global production & infrastructure at Samsung Electronics, President Song Jae-hyuk, head of Samsung Electronics Semiconductor Research Institute, and President Seung Hyun-joon, head of Samsung Research, Samsung Electronics’ research and development (R&D) organization leading the technological future of Samsung Electronics.
(from left) President Lee Young-hee, head of the global marketing office of the DX Division at Samsung Electronics, President Yang Geol of Samsung Electronics’ China Strategy Cooperation Office, President Baek Su-hyun of the Communications Team at Samsung Electronics’ DX Division, and President Park Seung-hee of the Communications Team at Samsung Electronics’ DX Division.
Chmn. Lee Conducts 1st Reshuffle of CEOs, Focusing on Stability and Capability
Samsung Electronics Chairman Lee Jay-yong carried out his first reshuffle of CEOs for 2023 since his inauguration as chairman on Dec. 5. The regular personnel change affected nine president-level CEOs, including two presidents whose duties have changed.
Samsung Electronics maintained a two-post structure by retaining Vice Chairman & CEO Han Jong-hee and President & CEO Kyung Kye-hyun in consideration of uncertain management conditions.
But newly promoted presidents are aged 60 or less, and they include a female CEO. The reshuffle is evaluated to have prioritized gifted technology manpower regardless of sex.
Looking into a regular reshuffle of presidents for 2023, among the nine presidents who have been promoted or transferred, seven are aged in their 50s and two aged 60.
The move may be construed as being part of company’s principle in which CEOs aged above 60 step aside to make way for “young-blooded” executives in their 50s.
In the Device Experience (DX) Division, Senior Executive Vice President Kim Woo-joon, 54, was promoted to president to replace President Chun Kyung-hoon, 60, head of the Network Business. President Chun was transferred to CTO of DX Division-cum-president of Samsung Research.
President Chun, transferred to CTO, concurrently president of Samsung Research, is charged with overseeing leading research of the DX Business and leading the exploration of the company’s future growth engines.
New President Kim, a doctorate graduate of Seoul National University Electronics Department, has led business growth in diverse areas, such as sales, technology and strategy while holding major positions, including head of the Production Strategy Group of the Network Business, chief of the Next-Generation Strategy Group and head of the Strategy Marketing Team.
Senior Executive Vice President Nam Seok-woo, overseeing global production & infrastructure at the Devise Solutions(DS) Division, got promotion to president in recognition of ramping up development and manufacturing capabilities of the semiconductor business while Senior Executive Vice President Song Jae-hyuk was promoted to president.
Nam’s promotion is expected to expedite unmatched semiconductor technology gap, the company said.
New President Song is recognized for his contribution to securing a global No. 1 position in the memory business by demonstrating technology leadership in all chip processes ranging from development of DRAM and Flash memory processes to mass production.
New President Song is recognized for his contribution to securing a global No. 1 position in the memory business by demonstrating technology leadership in all chip processes ranging from development of DRAM and Flash memory processes to mass production.
Former President Seung Hyun-joon of Samsung Research is now charged with global R&D collaboration. President Seung, a top AI expert, is expected to strengthen R&D collaboration with foreign major universities and advanced research institutes and prioritizing the hiring of global gifted manpower.
Senior Executive President Lee Young-hee has become the first female executive promoted to president to head the global marketing office of the DX Division.
New President Lee, a seasoned marketing expert, who once worked with L’OREAL, is recognized for creating marketing stories since entering Samsung Electronics in 2007, raising the standing of the company’s brand and leading Samsung Electronics’ growth as a customer value- and experience-oriented company.
New President Yang Geol of Samsung Electronics’ China Strategy Cooperation Office is the focus of some public attention amid worsening U.S.-China conflict over the global semiconductor industry.
Yang, a veteran chip marketing expert with rich experiences in overseas sales operations, has been credited with his contribution to expanding the business in China while serving as deputy head of the China Strategy Cooperation Office.
New President Baek Su-hyun of the Communications Team at Samsung Electronics’ DX Division is a seasoned public relations expert, who served as deputy bureau chief with SBS Broadcasting Network.
New President Park Seung-hee of Samsung Electronics’ CR Department is a veteran press public relations expert, who once served as a managing editor of the vernacular daily Korea JoongAng Daily.
He is expected to serve as a smooth bride with aggressive inside and outside communication as the president in charge of CR based on rich network and communication capabilities.
Samsung Electronics Chairman Lee Jay-yong chats with Samsung executives and staffers working at the construction site of the Barakah Nuclear Power Plant in Al Dhafra, the United Arab Emirates on Dec. 6.
Chmn. Lee Visits Middle East
Samsung Electronics Chairman Lee Jay-yong toured the construction site of the Barakah Nuclear Power Plant in Al Dhafra, the United Arab Emirates to take stock of businesses and give words of encouragement to Samsung executives and staffers working at the site on Dec. 6.
Chairman Lee left for Abu Dhabi, the capital of the UAE, to embark on his first overseas tour since he took office as Samsung Group chairman on Oct. 27.
He made an inspection tour of the Riyadh subway construction site in Saudi Arabia in 2019, three years and three months ago.
The Barakah Nuclear Power Plant is one of Korea’s overseas nuclear power plant construction projects. It is being implemented by “Team Korea,” comprising of C&T.
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