Vice Chairman Kim Ki-nam and Board Chair Park Jae-wan Send Shareholder Letter
New Business Unit Established Last Year... Preparing for Post-Corona Era
Commitment to Compliance and Safety Management Included
Kim Ki-nam, Vice Chairman of Samsung Electronics, is speaking at the 51st General Meeting of Shareholders held last March at the Suwon Convention Center in Gyeonggi Province. [Image source=Yonhap News]
[Asia Economy Reporter Kim Heung-soon] "We will steadily prepare for the future by acquiring capabilities such as big data, artificial intelligence (AI), Internet of Things (IoT), cloud, and security one by one."
Samsung Electronics Vice Chairman Kim Ki-nam and Board Chairman Park Jae-wan stated this in a joint letter to shareholders ahead of the shareholders' meeting on the 17th. It is interpreted as a firm commitment to solidify the foundation for future businesses this year, when a new post-COVID order begins, and to leap forward as a top-tier 100-year company.
Samsung Electronics is focusing on putting this vision into action. Notably, at the end of last year, through organizational restructuring, it established organizations responsible for new businesses such as the Big Data Center and the Robot Commercialization Task Force (TF) directly under the CEO. A Samsung official explained, "The purpose is to devise ways to apply AI and robot-related technologies accumulated through preliminary research to business." Vice Chairman Kim and Chairman Park also evaluated, "This is to take Samsung Electronics to the next level amid waves of change" and "We have taken the first step in preparing for the future."
Samsung Electronics has been preparing for years to introduce AI and IoT technologies into home appliances. In 2014, it acquired the U.S. IoT platform SmartThings, and in 2017, it established an AI Center under Samsung Research to strengthen R&D and talent acquisition. Based on this, it annually launches new products equipped with related technologies in hygiene, healthcare, kitchen appliances, and more.
The shareholder letter also included Samsung’s commitment to compliance and safety management. Vice Chairman Kim and Chairman Park emphasized, "We will establish a field-centered, autonomous, and proactive compliance culture and actively respond to social demands such as industrial accident prevention to lay the foundation for a trusted 100-year company."
Meanwhile, at this year’s shareholders' meeting, Samsung Electronics will approve the payment of a settlement dividend amounting to 13.1 trillion won based on a special dividend of 1,578 won per share, and decide on the reappointment and new appointment of inside and outside directors whose terms are expiring. For the first time, the meeting will be broadcast online to increase interest and encourage participation from the rapidly growing number of small shareholders, which has surged to over 2.14 million.
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