Samsung Electronics Promotes Three Presidents... Lee Jeong-bae Appointed Head of Memory Business (Update)

[Asia Economy Reporter Kim Hyewon] Samsung Electronics announced on the 2nd a regular executive promotion for 2021 involving a total of five people, including three promotions to president and two changes in appointed duties.

In this personnel reshuffle, Lee Jaeseung, Vice President and Head of the Home Appliance Business Division in the CE Division of Samsung Electronics, was promoted to president, and Lee Jungbae, Vice President and Head of the DRAM Development Office in the Memory Business Division of the DS Division, was promoted to president and appointed as Head of the Memory Business Division. Choi Siyoung, Vice President and Head of the Memory Manufacturing Technology Center in the Global Infrastructure Division of the DS Division, was also promoted to president and appointed as Head of the Foundry Business Division in the DS Division.

Jin Kyoyoung, President and Head of the Memory Business Division in the DS Division, moved to the position of President and Head of the Comprehensive Technology Institute, and Jung Eunseung, President and Head of the Foundry Business Division in the DS Division, moved to the position of CTO President of the DS Division.

Lee Jung-bae, President and Head of Memory Business Division, Samsung Electronics DS Division

The main feature of this president-level personnel reshuffle is the promotion of vice presidents who led growth and innovation in the home appliance business to president, and the bold appointment of vice presidents who led the development and manufacturing competitiveness of the core semiconductor business to president and business division head. Samsung Electronics explained, "Along with performance-based personnel decisions, this represents a generational change to lead new innovation and challenges in preparation for the future."

President Lee Jaeseung is the first president promoted from the home appliance sector since Samsung Electronics was founded and is regarded as a living witness who has cultivated the history of home appliances to date. Having served as Head of the Refrigerator Development Group and Head of the Home Appliance Development Team, he led the development of new-concept premium home appliances such as the Wind-Free Air Conditioner and the Bespoke series, and since his appointment as Head of the Home Appliance Business Division in January 2020, he has achieved remarkable results.

President Lee Jungbae, who holds a Ph.D. in Electronic Engineering from Seoul National University, is an expert in the DRAM field who has driven the growth of the memory business by serving in key positions such as Head of the DRAM Design Team, Head of Product Planning Team, Head of Quality Assurance Office, and Head of DRAM Development Office in the Memory Business Division. With this promotion, it is expected that as Head of the Memory Business Division, he will contribute to expanding the ultra-gap with competitors across all memory products including DRAM, NAND flash, and solutions.

President Choi Siyoung, who holds a Ph.D. in Electronic Materials from Ohio State University, is a process and manufacturing expert who has led process development and manufacturing for all semiconductor products while gaining experience in key semiconductor business positions such as Head of Process Development Team at the Semiconductor Research Institute, Head of Foundry Manufacturing Technology Center, and Head of Memory Manufacturing Technology Center. As Head of the Foundry Business Division, President Choi will play a role in laying the foundation for achieving the world's number one foundry position based on his expertise in process development and manufacturing experience across all semiconductor products.

President Jin Kyoyoung, who took charge of the Comprehensive Technology Institute, is a world-renowned authority in the field of memory process design with a Ph.D. in Electronic Engineering from Seoul National University. Since taking over as Head of the Memory Business Division in March 2017, he has been recognized as a key figure leading global ultra-gap competitiveness with absolute superiority.

President Jung Eunseung, based on his outstanding development expertise and strategic insight, is expected to enhance the advanced research capabilities of the semiconductor business as CTO of the DS Division.

Samsung Electronics stated, "In an uncertain global business environment, we will maintain the existing three-person CEO system to ensure stability while pushing forward bold reforms to continue innovation and growth."

Samsung Electronics plans to finalize and announce the regular executive personnel appointments and organizational restructuring below the vice president level for 2021 soon.