Samsung Electronics DS Head Jeon Young-hyun Holds First Executive Forum Since Appointment

Amid growing 'crisis talks' across Samsung Electronics' semiconductor sector, Jeon Young-hyun, Vice Chairman and head of Samsung Electronics' Device Solutions (DS) division, is holding a discussion forum with DS executives for the first time since his appointment.

According to industry sources on the 3rd, Vice Chairman Jeon began the executive discussion forum on the 1st to restore the competitiveness of the DS division and will meet with executives sequentially through early to mid-month.

Younghyun Jeon, Vice Chairman and Head of Samsung Electronics Device Solutions (DS) Division.

The forum is reported to have been held with the intention of strengthening communication and candidly discussing reform measures to fundamentally restore Samsung Electronics' competitiveness.

This is the first executive discussion forum since Vice Chairman Jeon took office in May.

Earlier, in an official internal message last August, Vice Chairman Jeon pointed out causes of weakened competitiveness such as the 'communication barriers between departments' and the spread of a culture of 'hiding or avoiding problems and reporting unrealistic plans reflecting only hopes,' emphasizing the importance of a discussion culture.

At that time, Vice Chairman Jeon said, "Although we are currently facing difficult circumstances, I firmly believe that we can quickly restore competitiveness based on the semiconductor industry's unique communication and discussion culture, accumulated research experience, and know-how."

Samsung Electronics posted an operating profit of less than 4 trillion won in its semiconductor business in the third quarter of this year. This is interpreted as being due to delayed HBM supply, inventory adjustments caused by delayed recovery in PC and mobile demand, and increased price pressure from the expansion of Chinese generic DRAM volumes.

After the preliminary earnings announcement, Vice Chairman Jeon unusually issued an apology message, saying, "I am sorry for causing concern about the company's fundamental technological competitiveness and future due to results that did not meet market expectations."