Samsung Holds Executive Meeting Led by Vice Chairman Han Jong-hee and President Kyung Kye-hyun

25 Samsung Electronics and Affiliates Executives Attend... Discussion on Risks and Countermeasures

[Image source=Yonhap News]

[Asia Economy Reporter Park Sun-mi] As Vice Chairman Lee Jae-yong of Samsung Electronics returned from his business trip to Europe, the presidents of Samsung Electronics and its affiliates gathered in one place. Ahead of the global strategy meetings by business division starting on the 21st, the presidents shared a preemptive awareness of rapid changes and established response strategies to thoroughly prepare for the future.

On the 20th, Samsung Electronics announced that it held a presidents' meeting at the Samsung Human Resources Development Center in Yongin, Gyeonggi Province, chaired by Vice Chairman Han Jong-hee and President Kyung Kye-hyun. The meeting was attended by 25 executives from Samsung Electronics and its affiliates, including Vice Chairman Han Jong-hee, President Kyung Kye-hyun, Samsung SDI President Choi Yoon-ho, Samsung SDS President Hwang Sung-woo, Samsung Display President Choi Joo-sun, and Samsung Electro-Mechanics President Jang Deok-hyun, and lasted over eight hours in a "marathon meeting."

This meeting was held immediately after Vice Chairman Lee, who had directly assessed the global market situation, emphasized the importance of ▲technology focus ▲securing outstanding talent ▲flexible organizational culture to reporters at the airport on the 18th. The presidents reviewed global risk factors such as inflation, supply chain shocks, and a sharp decline in IT product demand related to technology development, while broadly discussing countermeasures such as next-generation technology development to lead future markets and strengthening supply chain stability. Notably, the presidents reportedly devoted significant time to discussions on 'next-generation technology development.'

Vice Chairman Han mentioned that international affairs, industrial environments, and global market conditions are rapidly changing, emphasizing the need to read the flow of change with a long-term perspective and especially to develop capabilities to lead the future by preparing new growth engines well. He also urged breaking through limits with technology to secure the future, ensuring no gaps in securing outstanding talent, and putting effort into fostering a win-win ecosystem to grow together with small and medium-sized enterprises.

In the business community, the fact that the presidents' meeting was convened immediately after Vice Chairman Lee returned from Europe and that global strategy meetings by each business division are scheduled afterward has led to expectations that Samsung's affiliates will enter "emergency management" to overcome the global economic crisis. One business community official predicted, "As Vice Chairman Lee has emphasized 'preparing for the future through technology,' Samsung may accelerate strong innovation and nurturing of future growth engines comparable to the late Chairman Lee Kun-hee's 'New Management,' and actively embark on building a 'New Samsung.'"

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