Attending KES 2024 on the 22nd
Careful attitude toward company-related questions including value-up plans
Han Jong-hee, Vice Chairman of Samsung Electronics, showed a cautious attitude on the 22nd at 'Korea Electronics Show (KES 2024)' as if recognizing the crisis theory surrounding Samsung Electronics. Vice Chairman Han is usually known for readily answering reporters' questions, but on this day, he did not utter a word in response to questions from the press regarding the company's internal and external situations, such as Samsung Electronics' performance and value-up plans to boost stock prices.
Vice Chairman Han attended KES 2024 held at COEX in Gangnam-gu, Seoul. He holds the position of chairman of the Korea Electronics and Telecommunications Industry Promotion Association (KEA), the organizer of the event.
Although many reporters followed Vice Chairman Han's movements before and after the event and asked various questions, he remained silent throughout. Even while touring the exhibition hall with Park Sung-taek, Vice Minister of Industry, and Park Cheong-won, Vice Chairman of KEA, Vice Chairman Han kept his words to a minimum. When the on-site host asked which product at LG Electronics' booth left a strong impression, he passed the opportunity to answer to Vice Minister Park.
Vice Chairman Han Jong-hee of Samsung Electronics (center) is attending 'KES 2024' held at COEX in Gangnam-gu, Seoul on the 22nd and touring the booths. [Photo by Han Ye-ju]
This is quite different from last year's KES 2023, where he mentioned the possibility of performance improvement or expressed expectations for the robotics industry. It seems to reflect the upcoming regular personnel reshuffle season next month and the crisis theory surrounding Samsung Electronics. Samsung Electronics recorded an 'earnings shock' in the third quarter this year, and its stock price plunged to the lowest level of the year. Foreign investors have also been net selling Samsung Electronics shares almost continuously for nearly a month.
At least Vice Chairman Han showed the most active attitude when touring Murata Electronics' booth. While examining Murata Electronics' USCD, which won the KES Innovation Awards, he evaluated it as a "good idea" and even shook hands with Mizuno Toshihiro, President of Korea Murata, saying, "See you next time."
He also gave brief answers to questions related to artificial intelligence (AI). Before the event started, Vice Chairman Han met with reporters and said, "AI is definitely the trend," adding, "Both artificial intelligence (AI) and our industry need to develop further."
He emphasized the importance of AI in his welcoming speech as well. Vice Chairman Han said, "AI technology is fundamentally changing the technological environment familiar to us, from robots and autonomous manufacturing to legal tech (legal technology services) and other service sectors," adding, "Korea Electronics Show will be a festival ground where industries converge through AI technology and share sustainable future strategies."
He continued, "Last year was by no means an easy year for the electronics industry. The instability of the global supply chain and the US-China hegemony competition posed serious challenges across the industry," and assessed, "This year, although strategic competition between the US and China is intensifying and the unstable global security situation continues, the electronics industry is achieving results once again through the relentless efforts and strong will of industry professionals combined with the government's meticulous support."
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