Hwang Sung-woo, Samsung SDS CEO, "We Will Increase Cloud Investment Further"

Samsung SDS, which achieved annual sales of 1 trillion KRW in its cloud business last year, is expanding related investments.

Samsung SDS held its 38th regular general shareholders' meeting on the 15th at the Jamsil campus. At the meeting, agenda items such as approval of financial statements, appointment of outside directors Seung-A Cho, Moo-Il Moon, and Jae-Jin Lee, appointment of inside director Jung Tae Ahn, appointment of Audit Committee members including Hyun-Han Shin, and approval of the director remuneration limit were resolved.

Samsung SDS recorded sales of 17.2347 trillion KRW and an operating profit of 916.1 billion KRW last year. Sales grew by 26% compared to the previous year.

Hwang Sung-woo, CEO of Samsung SDS, mentioned the achievement of annual cloud business sales of 1 trillion KRW in his greeting at the shareholders' meeting. He explained the transformation into a cloud company through strengthening enterprise-specialized functions and expanding global regions.

CEO Hwang emphasized, "We have three pillars: the customized Samsung Cloud Platform (SCP), the all-in-one cloud service (MSP), and software as a service (SaaS) for business innovation," adding, "This is a differentiated capability that enables the construction of a ‘true hybrid cloud.’"

He also stated that the digital logistics business has begun to get on track. He explained that digital logistics sales and subscribed customers have increased, and the service countries have expanded.

Samsung SDS plans to further increase investments in the cloud and digital logistics business sectors. Following the acquisition of a 33.4% stake in Amore, the nation's No. 1 procurement supply chain management (SRM) specialist company, the company expressed its intention for additional mergers and acquisitions (M&A).

CEO Hwang said, "We are considering how to use the cash we have," and added, "As the cloud and digital logistics businesses progress, more investments are expected."

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