"Unwavering Core Competitiveness in Technology Talent"... Lee Jae-yong's 'Talent Management' Moves (Comprehensive)

Second Step in the New Year: Meeting with 'Samsung Masters'
"The Future Depends on Securing and Nurturing Technical Talent"
Attention Grows Amid Intensifying Labor Shortages in Semiconductors and More

Samsung Electronics Chairman Lee Jae-yong chose 'talent management' as his second move of the new year. Following his first step of inspecting the research and development (R&D) site for next-generation communication technology, this move is interpreted as emphasizing the importance of developing breakthrough technologies for future market leadership and nurturing outstanding technical talent.

Samsung Electronics Chairman Lee Jae-yong is taking a commemorative photo after holding a meeting with the '2024 Samsung Masters' at the Seocho headquarters on the 16th. Photo by Samsung Electronics

On the 16th, Chairman Lee held a meeting with 15 '2024 Samsung Masters' at Samsung Electronics' Seocho building in Seoul, stating, "Technical talent is an indispensable core competitiveness," and adding, "The future depends on securing and nurturing technical talent." He further said, "We will create an environment where technical talent can freely challenge and innovate."

During the meeting, Chairman Lee listened to the Samsung Masters' experiences and challenges in growing as technical experts, exchanged opinions on ways to enhance manufacturing competitiveness, and discussed the importance of nurturing future technical talent. At the end of the meeting, he encouraged the attendees again by saying, "Let's meet on the field. Please also nurture the juniors well."

Chairman Lee's recent move draws even more attention as it coincides with the atmosphere of Korea's industrial sites, where manpower has become scarce due to labor shortages. Due to phenomena such as the avoidance of science and engineering fields, various sectors of Korea's industrial sites are experiencing recruitment difficulties. In particular, the semiconductor market, which Samsung Electronics focuses on, is expected to face a significant shortage of manpower as the demand for skilled workers will not keep pace with the industry's development speed, raising growing concerns.

The Korea Semiconductor Industry Association forecasts that by 2031, the domestic semiconductor market will require about 304,000 workers, a significant increase. However, if the current semiconductor workforce, which was only about 177,000 as of 2021, remains the same or decreases, it is expected that there will be a shortage of approximately 54,000 workers by 2031.

Despite the government announcing a blueprint to invest 622 trillion won by 2047 to build a 'Semiconductor Mega Cluster' in the southern Gyeonggi Province and strengthen support, it remains uncertain whether manpower can be supplied accordingly, leading to considerable concerns in the business community alongside expectations.

The business community believes that Chairman Lee chose the talent management approach considering these trends.

Starting with this meeting with the Samsung Masters, Chairman Lee is expected to continuously emphasize the importance of talent development throughout the year. He has repeatedly advocated a 'technology-focused management philosophy' in official settings and stressed the need to devote efforts to nurturing technical talent. Before his inauguration as chairman in October 2022, he declared, "We must invest in technologies that do not yet exist. Our survival depends on future technologies," and since then, he has emphasized, "Despite difficult circumstances, there must be no wavering in talent development and investment in future technologies."

In October 2022, Chairman Lee attended the closing ceremony of the 'International Skills Olympics Special Competition Goyang' to encourage the Korean team, saying, "Young talents are the champions of the technological revolution era and the future leaders of Korea," and "Korea's development to this extent is thanks to young technical talents."

Chairman Lee is also known to have a special affection for the 'Samsung Masters' system. Samsung selects technical experts who have worked for over 20 years in fields such as manufacturing technology, mold, and quality, contributing to product competitiveness and business performance, as Masters to strengthen manufacturing competitiveness through in-house technical expert development. At this year's opening ceremony, Samsung selected 15 Masters, the largest number since the system was introduced in 2019.

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