Display Production Site Inspection and Executive Meeting Held
Review of Development Status for QD OLED and Automotive Displays
Continuous Visits to Regional Business Sites
[Asia Economy Reporter Han Ye-ju] Samsung Electronics Chairman Lee Jae-yong visited Samsung Display's site to 'secure future market leadership.'
On the 7th, Chairman Lee visited Samsung Display's Asan Campus to personally inspect the 'Quantum Dot-Organic Light Emitting Diode (QD-OLED)' panel production line and review business strategies. He is reported to have discussed with key executives the ▲current status of the display market for IT devices ▲status of the automotive display business ▲roadmap for next-generation display technology development.
Samsung Electronics Chairman Lee Jae-yong visited the Samsung Display Asan Campus on the 7th to tour the QD-OLED production line and review business strategies. [Photo by Samsung Electronics]
The chairman held a meeting with employees developing core products and emphasized the importance of securing 'future core technologies,' saying, "Let's continuously innovate and invest proactively to build capabilities that no one can surpass."
Chairman Lee’s process of listening to the voices of display employees and reviewing technology development is interpreted as a move to plan aggressive investments.
The display sector was once led globally by Korean companies such as Samsung and LG, but has lost ground due to fierce competition from Chinese companies. In the case of liquid crystal displays (LCD), the gap with China is said to have virtually disappeared, and concerns have been raised that OLED cannot be taken for granted either.
Accordingly, it is evaluated that Chairman Lee judged that a new leap forward in the display industry is essential not only for revitalizing the regional economy but also for strengthening the global competitiveness of South Korea’s IT industry, and visited the display business site to plan new investments.
An industry insider said, "South Korea’s display industry is at a critical turning point amid fierce challenges from China," adding, "It is noteworthy what choices Chairman Lee will make in the display industry, which is facing the double hardship of intensified competition amid a global economic crisis."
Samsung Electronics Chairman Lee Jae-yong visited the Samsung Display Asan Campus on the 7th to tour the QD-OLED production line and review business strategies. [Photo by Samsung Electronics]
Meanwhile, Chairman Lee’s visits to regional business sites are expected to continue. Most of his public external activities since taking office have been focused on regional areas. Following his first visit to Samsung Electronics’ Gwangju plant in October last year, he visited Samsung Electro-Mechanics’ Busan plant in November and Samsung Fire & Marine Insurance’s Yuseong training center on the 1st of this month.
A business community official explained, "Choosing regional business sites as the chairman’s first moves and visiting partner companies and small and medium-sized enterprises is itself a bold message," adding, "It appears to be a move mindful of 'co-prosperity with regions' beyond 'co-prosperity between Samsung and partner companies, and between large and small businesses.'" He added, "Despite difficult circumstances, the message being given to management is that investment and employment must proceed without disruption."
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