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Samsung Electronics to hold regular strategy meeting next week

All Headlines 09:00 December 09, 2017

SEOUL, Dec. 9 (Yonhap) -- Samsung Electronics Co. said Saturday it will hold the regular strategy meeting of executives next week, setting companywide business plans of their respective divisions for 2018.

Samsung's business arms hold regular strategy meetings in June and December, where their executives discuss fostering new growth engines and key issues in the tech industry.

Industry sources said executives of the consumer electronics and IT mobile divisions will hold meetings from Wednesday to Friday at the tech giant's headquarters located in Suwon, south of Seoul. The device solution arm will also hold a separate meeting on Dec. 19.

Experts said this year's meeting was scheduled earlier than last year, when it ran from Dec. 19 to 21, apparently as the vacancy of Samsung's top leadership sparked the need to promptly set business strategies for next year.

Samsung Electronics' de facto leader Lee Jae-yong is currently behind bars since February on his connection to an unprecedented political scandal, which led to the impeachment of former President Park Geun-hye. A local court handed down a five-year jail term against him in August.

Lee's father, Lee Kun-hee, has also been hospitalized since May 2014 after suffering a heart attack.

The upcoming meeting is also significant as it will mark the debut of the new heads of Samsung's business divisions appointed just in November.

Samsung named President Kim Ki-nam to head the device solutions division, which oversees the crucial chip business. President Kim Hyun-suk was named to head the consumer electronics division, and President Koh Dong-jin was tapped as the new head of the IT and mobile division.

The three are all in their 50s, reflecting Samsung's willingness to bring fresh visions to its business strategies.

Key issues to be discussed at the meeting will include the strategy for the chip business after the global boom in the segment calms down next year, along with the marketing strategies for the presumed Galaxy S9 smartphone which will be released early in 2018.

Samsung's businesses related to self-driving automobiles and Internet-of-Things technologies will also be some of the main areas of focus during the gathering, industry watchers added.

Samsung Electronics to hold regular strategy meeting next week - 1

colin@yna.co.kr
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