A flag of Samsung Electronics Co., the world’s largest maker of computer memory chips and smartphones, flutters outside its headquarters in Seoul on April 28, 2022. (Image courtesy of Yonhap)
SEOUL, Nov. 27 (Korea Bizwire) — Samsung Electronics Co., the world’s largest maker of memory chips and smartphones, said Monday it has established a unit tasked with planning “future business,” as part of the electronics giant’s annual reshuffle of its top-level executives.
The unit will be led by longtime Samsung executive Jun Young-hyun, currently vice chairman of Samsung SDI Co., a display unit of Samsung Group, the company said in a statement.
The annual reshuffle saw two co-CEOs of Samsung Electronics — Han Jong-hee and Kyung Kye-hyun — retain their posts, in an apparent move to stabilize the company’s leadership, about a year after Chairman Lee Jae-yong took the helm.
The unit was “created to explore new business opportunities beyond its existing operations,” Samsung Electronics said in the statement.
Under the reshuffle, two vice presidents were also promoted.
Yong Seok-woo, who has served in various capacities at the company’s display division, was promoted to a president and will be in charge of the display division.
Kim Won-kyung, a former diplomat who joined Samsung Electronics in 2012, was promoted to a president and will head the company’s division on global public affairs.
The reshuffle came as a prolonged global economic downturn and a struggling semiconductor industry have cast a cloud over Samsung Electronics’ quarterly performance.
In the first and second quarters of this year, Samsung Electronics posted 640.2 billion won (US$491 million) and 668.5 billion won in operating profit, respectively, marking the lowest quarterly earnings since the first quarter of 2009.
(Yonhap)
