Samsung's Jun Young-hyun vows turnaround for struggling chip business
Published: 30 May. 2024, 13:22
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- JIN EUN-SOO
- [email protected]

Jun Young-hyun
"I feel a great sense of responsibility regarding the crisis our company is facing," Jun stated in a message posted on the company's internal homepage on Thursday.
"The memory chip business, once an unrivaled No. 1, is now facing severe challenges, and our contract manufacturing business is struggling to keep pace with the industry leader. Additionally, our System LSI (chip design) division is encountering significant hurdles."
Jun said that Samsung Electronics “has amassed invaluable expertise, undergone unconventional research experiences and boasts an outstanding work force, alongside a robust technological foundation, forged through countless past risks and crises.”
"I am confident that we can overcome this latest adversity quickly if we continue to foster our culture of open communication and discussion."
Jun also highlighted the golden opportunity presented by the AI era for the semiconductor business, affirming his commitment to seizing it by charting the right course.
Samsung Electronics' semiconductor business suffered nearly 15 trillion won ($10.9 billion) in losses last year, indicating a slower-than-anticipated recovery following one of the industry's most severe cyclical downturns. The company faces intense competition in high-bandwidth memory chips from its local rival SK hynix and is struggling to narrow the gap with TSMC in contract manufacturing.
Jun replaced former leader Kyung Kye-hyun in the company's rare midyear reshuffle of top executives last week, underscoring the urgent need for a turnaround in the semiconductor business.
Jun brings expertise in both engineering, particularly in memory chips, and risk management, having previously served as CEO of Samsung SDI during a crisis involving a Galaxy smartphone battery issue.
BY JIN EUN-SOO [[email protected]]
with the Korea JoongAng Daily
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