Memorial Ceremony to Be Held at Family Burial Site in Yongin, Gyeonggi Province
Key Figures from Samsung-Affiliated Groups Expected to Attend
Spirit of "Contributing to the Nation and Humanity Through Business"
Equipment Installation Ceremony at Giheung R&D Complex on the 18th
Executives Including Jun Younghyun, Head of DS Division, to Attend
Executive Appointments and Organizational Restructuring This Month, Global Strategy Meeting Next Month
On November 19, Samsung Electronics will mark the 37th anniversary of the passing of its founder, Lee Byung-chul. This week, the company is expected to reaffirm its commitment to the spirit of "business patriotism" (saeopboguk) and take steps to regain its unrivaled competitiveness in semiconductors.
According to industry sources on November 18, Samsung Electronics will hold a memorial ceremony at the family burial site near Hoam Art Museum in Yongin, Gyeonggi Province, to commemorate the founder's anniversary. Key figures from Samsung, as well as from affiliated groups such as Shinsegae, CJ, and Hansol, are expected to visit the site. They will take time to reflect on the spirit of "business patriotism" that Lee Byung-chul emphasized during his lifetime. "Business patriotism" refers to the idea of contributing to the nation and humanity through corporate activity.
Signs of change at Samsung are emerging, starting with the semiconductor research and development (R&D) complex currently under construction in Giheung, Yongin. On this day, a ceremony will be held to mark the installation of equipment at the Giheung R&D complex, attended by Jun Younghyun, head of the Device Solutions (DS) division and Vice Chairman, as well as key executives and representatives from partner companies. There is keen interest in the messages that Vice Chairman Jun and other executives will deliver. Samsung Electronics has pledged to invest approximately 20 trillion won in this complex by 2030. The company is demonstrating its commitment to prioritizing technology and establishing the site as a forward base for securing semiconductor competitiveness.
The Giheung campus, where the large-scale R&D complex will be located, is also the birthplace of Samsung's semiconductor business. In 2022, as his first official activity after his pardon, Samsung Electronics Chairman Lee Jae-yong attended the groundbreaking ceremony for the Giheung R&D complex. He emphasized, "If it were not for bold R&D investments not only in next-generation but also in future-generation products, today's Samsung semiconductor business would not exist. Let's continue the tradition of prioritizing technology and making preemptive investments. Let's create the future with technologies the world has never seen." In October last year, Chairman Lee also visited the Giheung campus to inspect the R&D complex construction site. In line with Chairman Lee's management philosophy, Samsung Electronics has continued to increase its investments, allocating a record-high 8.87 trillion won to R&D in the third quarter of this year, even amid fluctuating business results.
Recently, Samsung Electronics has been showing signs of regrouping in the face of various challenges. The Device Solutions (DS) division, which oversees the semiconductor business, held an executive forum to discuss strategies for regaining semiconductor competitiveness. It is expected that executive appointments and organizational restructuring will take place within this month. These personnel changes are likely to be made with the goals of fundamentally restoring technological competitiveness and thoroughly preparing for the future.
On December 6, Samsung will celebrate the 50th anniversary of its entry into the semiconductor business. At that time, the company will unveil a new "Way of Working for DS Employees" to lead the next 50 years, replacing the existing "Semiconductor Employee Creed." On December 6, 1974, the late Lee Kun-hee, then an executive director at a Samsung affiliate, used his personal funds to acquire Korea Semiconductor. Since then, Samsung Electronics has encouraged employees with ten pledges for action, including "Abandon the thought that it can't be done." With semiconductor technologies and market trends changing rapidly, the company has recently decided to create a new creed and is soliciting ideas from employees. In addition, a global strategy meeting will be held next month to discuss business goals and operational strategies for the coming year.
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