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Believe in our ability to innovate amid tough times, Samsung SDI CEO tells employees

Published: 01 Jul. 2025, 16:22

KIM JU-YEON
[email protected]

Samsung SDI CEO Choi Joo-sun, top left, poses for a commemorative photo with senior executives and award recipients, including SDI Prize winners, during the company’s 55th anniversary ceremony at its headquarters in Giheung District, Yongin, Gyeonggi, on July 1.[SAMSUNG SDI]

Samsung SDI CEO Choi Joo-sun asked employees to believe in the firm's potential to innovate and rebuild amid a difficult time for the company's core EV battery business, at a ceremony celebrating the firm's 55th anniversary since its founding on Tuesday.

The executive made the encouraging yet stark remarks in a speech at the company's headquarters in Yongin, Gyeonggi. It was the first time he participated in the event since his appointment as CEO late last year.

Executives, including Choi, the recipients of the firm's awards for achievements by department and long-term employees, were present at the ceremony.

“Lately, I’ve often found myself tossing and turning at night," Choi said of the external market factors Samsung SDI faces. "Sometimes, the reality we’re facing chills me to the bone.”

Samsung SDI posted a net loss of 216 billion won ($150.5 million) in this year's first quarter, shifting from a profit of 286.7 billion won a year earlier and falling short of market expectations.

The company had said weak demand for EV batteries and power tools, as well as weak seasonality in the energy storage market, had decreased its revenue.

The firm expected its second quarter to improve as demand recovered, but added that "uncertainties" remained due to U.S. tariffs.

Choi emphasized the batterymaker's need to develop superior technology, restore its competitive edge in manufacturing and normalize technologies for plating, assembly, and packaging for the firm to get back on its feet.

He added that the success of the firm's new electronic materials business is "essential." Samsung SDI manufactures and sells materials for chips and display components.

"The market constantly changes," Choi said. "Let’s be patient and keep working hard until each of you become part of this transformation and deliver outstanding outcomes."

The CEO peppered his speech with words of encouragement, promising responsibility on management's part and asking for the employees' support.

“We can, and we absolutely will, make it through,” Choi said.

“I will take the lead and dedicate myself to building the thrilling future you dream of and hope for. I promise to take full responsibility.”

BY KIM JU-YEON [[email protected]]