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(2nd LD) Samsung names new chiefs of its memory, foundry businesses

All News 11:04 December 02, 2020

(ATTN: ADDS more info in last 6 paras)

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)

Lee is an expert in the DRAM sector who played a pivotal role in Samsung becoming the dominant player in the memory industry.

The South Korean tech giant said it believes Lee will further widen the gap with competitors in the memory business, including DRAM, NAND flash and other solutions.

Samsung is the world's largest memory chip producer, with a 41.3 percent share in the DRAM market and a 33.1 percent share in the NAND flash sector in the third quarter of the year, according to market researcher TrendForce.

Choi is an expert in chip manufacturing and processing solutions, having served in various posts in Samsung's semiconductor business.

Samsung expects Choi to use his experience and expertise in chip producing processes to achieve its goal of becoming the leading player in the foundry sector.

Samsung was the No. 2 player in the contract chip making industry with a 17.4 percent share in the third quarter, trailing far behind Taiwan Semiconductor Manufacturing Co. (TSMC) that boasts a 53.9 percent market share.

Their predecessors have been assigned to new posts with the task of securing future technologies and managing broader research and development (R&D) projects.

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.

This photo taken on March 18, 2020, shows CEOs of Samsung Electronics Co. at the company's shareholders' meeting in Suwon, south of Seoul. From left are Koh Dong-jin from IT and mobile communications division; Kim Hyun-suk from consumer electronics division; and Kim Ki-nam from device solutions division. (Yonhap)

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.

He is the first man from the consumer electronics business unit to earn the title of president, according to Samsung. The 60-year-old led the development of hit home appliances, including the BESPOKE series, and has been chief of the company's digital appliances unit since January.

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

Other Samsung Group affiliates also announced their senior executive reshuffles Wednesday.

Of them, Samsung Display Co., the world's leading mobile display panel maker, appointed Choi Joo-sun as its new CEO. The 57-year-old will replace Lee Dong-hoon.

Choi, who currently leads the company's large display business, will be tasked with completing Samsung Display's transition to quantum-dot (QD) displays business.

Samsung SDS Co., a major IT service provider in South Korea, named Hwang Sung-woo, current chief of SAIT, as its new CEO. He will succeed Hong Won-pyo.

Samsung Economic Research Institute named Kim Jae-youl to lead its global strategy group tasked with recruiting talented individuals from around the globe.

Kim is the husband of Lee Seo-hyun, the second daughter of late Samsung Group chief Lee Kun-hee and a younger sister of Samsung Electronics Vice Chairman Lee Jae-yong.

kdon@yna.co.kr
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