Douinsys, a specialized manufacturer of foldable UTG (Ultra-Thin Glass), announced on the 24th that it has decisively appointed Ok Kyung-seok, former CEO of Hanwha Machinery Division and Hanwha Precision Machinery, as its new CEO.
Former CEO Lee Jae-gyu resigned due to personal reasons.
New CEO Ok Kyung-seok served for a long time in Samsung Electronics' semiconductor components business, gaining extensive experience in management, trade, and innovation. He was selected by Hanwha Group as president of Hanwha Chemical and served as head of Hanwha's explosives division, as well as concurrently leading the explosives defense division and machinery division.
In the industry, CEO Ok is regarded as a “field-oriented management innovation competitor” due to his groundbreaking management achievements such as cost reduction and operating profit improvement during his tenure at large corporations like Samsung Electronics and Hanwha.
A Douinsys official stated, “Our company is competing fiercely in the global market, not just domestically, with our foldable UTG ultra-gap technology. The new CEO Ok Kyung-seok is the right person to lead Douinsys’ global leap, having led intensive operations and achieved remarkable results at major companies such as Samsung and Hanwha, as well as possessing a deep understanding of the advanced IT industry ecosystem.”
Founded in 2010, Douinsys is a core K-Display materials company and was selected by the Ministry of Trade, Industry and Energy as a top small and medium-sized materials, parts, and equipment company for 2024. Its main products are UTG (Ultra-Thin Glass) and cover windows for flexible displays. The company localized UTG in 2019 and succeeded in commercializing and mass-producing the world’s first foldable smartphone UTG that folds like paper in 2020.
Recently, having secured global ultra-gap competitiveness through the advancement of foldable UTG, Douinsys plans to leap to become the global number one in future-type flexible UTG by acquiring new form factor response technologies tailored to market demand.
Regarding this, New Power Plasma Yang Jae-young, CEO of Douinsys’ parent company, said, “Starting with the appointment of CEO Ok Kyung-seok, Douinsys will accelerate growth aiming for a KOSDAQ listing in 2025 and becoming the global number one in flexible displays. Following leadership in the UTG-based foldable market, we will further accelerate sustainable growth by entering new markets for future-type displays.”
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