Samsung Electronics Abruptly Changes Semiconductor Chief... Appoints Vice Chairman Jeon Young-hyun

'One-Point' Personnel Move on the 21st
Kyung Gye-hyun Appointed Head of Future Business Planning Team

On the 21st, Samsung Electronics appointed Jeon Young-hyun, Head of the Future Business Planning Group (64, Vice Chairman), as the new leader of its semiconductor business. This was a sudden 'one-point' personnel change carried out on the same day. It is interpreted as a decision made by Samsung Electronics to revitalize the atmosphere and lead the market this year after recovering from a loss of about 15 trillion won caused by the semiconductor industry's downturn last year.

Samsung Electronics announced that Vice Chairman Jeon Young-hyun was appointed as the head of the Device Solutions (DS) division, and President Kyung Kye-hyun, who was previously the head of the DS division, was appointed as the head of the Future Business Planning Group, a position formerly held by Vice Chairman Jeon. Regarding this personnel change, Samsung Electronics explained, "It is a proactive measure to renew the internal and external atmosphere amid an uncertain global business environment and to strengthen the future competitiveness of semiconductors."

Vice Chairman Jeon, newly appointed as the head of the DS division, joined Samsung Electronics' Memory Business Division in 2000, working in DRAM/Flash development and strategic marketing, and served as the head of the Memory Business Division from 2014. In 2017, he moved to SDI and served as CEO of SDI for five years. Appointed as the head of the Future Business Planning Group at Samsung Electronics in 2024, Vice Chairman Jeon has been responsible for discovering future growth engines for Samsung Electronics and its affiliates. Samsung Electronics stated about Vice Chairman Jeon, "He is the key figure who grew Samsung Electronics' memory semiconductors and battery business to a global top level, and it is expected that he will overcome the semiconductor crisis based on his accumulated rich management know-how."

President Kyung is known to have voluntarily stepped down from the division head position recently to find a new breakthrough amid the semiconductor crisis. Since 2020, President Kyung has served as CEO of Samsung Electro-Mechanics, enhancing the competitiveness of MLCC (Multilayer Ceramic Capacitor) technology. From 2022, he has overseen the semiconductor business as the head of Samsung Electronics' DS division and will lead the discovery of future growth engines going forward. The newly established 'Future Business Planning Group' from the last personnel change focuses on discovering Samsung's future growth items 10 years ahead. Its main goal is to find 'completely new businesses' that are not extensions of existing businesses. It is an organization that reflects Samsung's intention to find the 'second semiconductor and bio' through selecting promising future businesses, mergers and acquisitions (M&A), large-scale investments, and talent acquisition.

Samsung Electronics plans to proceed with the appointment procedures for Vice Chairman Jeon as an inside director and CEO through the regular shareholders' meeting and board of directors next year.