Samsung Engineering to Change Company Name to 'Samsung E&A'
33 Years Since 'Samsung Engineering' Changed in 1991
Confirmed If Passed at the Shareholders' Meeting on the 21st
President Namgung Hong: "Accelerating Preparations for the Future"
Samsung Engineering is planning to change its company name to Samsung E&A for the first time in 33 years.
Samsung Engineering announced on the 15th that the board of directors has submitted a proposal to amend the articles of incorporation for the name change to be included as an agenda item at the shareholders' meeting. If this proposal passes at the shareholders' meeting scheduled for the 21st, the name change will be finalized.
The new name, 'Samsung E&A,' reflects the company's heritage built over the past 53 years and embodies a new identity aimed at becoming a '100-year company,' along with a vision for future business expansion and values and determination for innovation in business execution. The letter E stands for 'Engineers.' It represents the expansion of business into Engineering technology and future businesses such as Energy and Environment, as well as Earth and Eco for a sustainable tomorrow, and symbolizes all employees as Enablers and protagonists of innovation. The letter A stands for 'AHEAD,' reflecting the company's values and determination to continuously lead change and pioneer the future through differentiated execution innovation in the history of Korea's engineering industry.
Samsung Engineering decided to pursue the name change after agreeing on the need for a new company name that reflects the changed business environment and future scalability while envisioning the future through last year's vision declaration and mid- to long-term strategy establishment. Samsung Engineering is Korea's first engineering company, established in 1970. It started as Korea Engineering, was acquired by Samsung Group in 1978, and has used the name Samsung Engineering since it was changed in 1991.
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Namgung Hong, President of Samsung Engineering, said, "We expect the new company name to accelerate the company's preparations for the future," adding, "We will strengthen our existing business execution capabilities and quickly seize opportunities in new businesses based on technology to become a sustainable company."
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