"Inheriting Lee Kun-hee's Challenge and Passion, Evolving into a 'Creative Company'"

Samsung Electronics Celebrates 51st Anniversary
Commitment to a Sustainable 100-Year Company
Kim Ki-nam: "Competitiveness Starts with Talent"

Samsung Electronics held a founding anniversary ceremony on the morning of the 2nd at the Digital Research Center of the Suwon Campus to celebrate its 51st anniversary. Kim Ki-nam, Vice Chairman of Samsung Electronics' DS Division, urged, "Let us inherit the challenges and passion left by Chairman Lee Kun-hee and evolve into a creative company that changes the landscape of the industry."

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics, celebrating its 51st anniversary, pledged to take on the challenge of growing into a 100-year company by inheriting the management philosophy of its late chairman.

On the morning of the 2nd, Samsung Electronics held its 51st anniversary ceremony at the Digital Lab of its Suwon Plant in Gyeonggi Province, taking the first step toward the next 50 years under the 'Vice Chairman Lee Jae-yong system.' Considering that the ceremony was held just a week after the passing of Chairman Lee Kun-hee and amid the COVID-19 pandemic, the event was conducted in a solemn and modest atmosphere. Vice Chairman Lee Jae-yong did not attend the event nor did he deliver a message.

Kim Ki-nam, Vice Chairman of Samsung Electronics' DS Division, began his anniversary speech with a tribute, saying, "Chairman Lee's passing was another great shock and sorrow to all our employees who are going through a more difficult time than ever due to COVID-19 and an uncertain business environment." He urged, "Let us inherit the challenges and passion left by Chairman Lee and evolve into a creative company that changes the industry landscape."

Vice Chairman Kim also emphasized the late Chairman Lee Kun-hee's management philosophy of talent and corporate social responsibility. He said, "Since our competitiveness starts with the best talent, let us create a culture of mutual consideration and trust among employees," adding, "Let us fulfill our social responsibilities and build the foundation of a 'sustainable 100-year company' that contributes to future society."

Samsung Electronics has continued innovation and challenges over the past 51 years to become a global top-tier company. Founder Lee Byung-chul established Samsung Electronics Industry Co., Ltd. in 1969, laying the foundation for domestic home appliances and semiconductor businesses. In 1987, Chairman Lee Kun-hee declared the 'New Management' and firmly established Samsung as the global No. 1 company in the DRAM market. Despite the increased uncertainty worldwide due to the COVID-19 pandemic this year, Samsung Electronics recorded an all-time high third-quarter revenue of 67 trillion won and achieved 5th place globally with a brand value of 62.3 billion dollars.

The industry expects Samsung Electronics to accelerate its 'New Samsung' initiatives as the Lee Jae-yong era officially begins. It is anticipated that investments will continue to expand to respond to the global semiconductor market amid the US-China trade dispute.

Vice Chairman Lee is focusing on the foundry and system semiconductor sectors to achieve 'Vision 2030,' aiming to become No. 1 not only in memory but also in the non-memory sector by 2030. It is also expected that he will strengthen capabilities in future technologies he emphasized, such as artificial intelligence (AI), next-generation mobile communications including 5G and 6G, and cooperation with global clients. Corporate governance reform for Samsung's next 50 years is also a key task for Vice Chairman Lee.

This content was produced with the assistance of AI translation services.