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Samsung names new chiefs of its memory, foundry businesses

All News 09:55 December 02, 2020

SEOUL, Dec. 2 (Yonhap) -- Samsung Electronics Co. on Wednesday named the new chiefs of its memory and foundry businesses as the South Korean tech giant aims to further expand its presence in the chipmaking sector.

Samsung announced that Lee Jung-bae, 53, has been promoted to chief of its memory business, while Choi Si-young, 56, will head its foundry business.

Lee previously led Samsung's DRAM product and technology unit, while Choi served as head of the company's memory manufacturing technology center.

Samsung said the latest move is aimed at bolstering its technological competitiveness and occupying new markets with the next generation of leaders.

These photos, provided by Samsung Electronics Co. on Dec. 2, 2020, show the company's newly promoted senior executives. From left are Lee Jae-seung, now president and head of the digital appliances business; Lee Jung-bae, named president and head of the memory business; and Choi Si-young, appointed as president and head of the foundry business. (PHOTO NOT FOR SALE) (Yonhap)

Their predecessors have been assigned to new posts with the task of managing broader technology developments.

Jin Gyo-young, who led the memory business, has been named head of the Samsung Advanced Institute of Technology (SAIT), while Jung Eun-seung, previously head of the foundry business, will serve as chief technology officer of Samsung's device solutions division.

Samsung said CEOs in its three major business divisions -- Kim Ki-nam at device solutions, Kim Hyun-suk at consumer electronics and Koh Dong-jin at IT and mobile communications -- will remain in their posts as the company sought stable management amid global uncertainties.

Meanwhile, Lee Jae-seung, current head of the company's digital appliances business, was promoted from executive vice president to president.

Samsung said it will announce executive level reshuffle and unit reorganizing plans in the upcoming days.


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