Mar 07, 2002 Samsung Electronics is reorganizing its Semiconductor business group under a new name, Device Solution Network, to give more autonomy to its three main units in memory, telecommunications chips, and LCD panels, accordingto some financial analysts in Korea Tuesday
Yoon-Woo Lee, president of the old semiconductor unit, remains president and chief executive of the new group. The executives heading the three business areas will have more authority to direct their respective segments under a "holding company" management approach that is now being implemented, sources said.
Chang-Gyu Hwang, head of the memory group, becomes president of the Memory division under the new approach. Hyung-Kyu Lin, who headed System LSI activities, becomes president of that division, and Sang-Wan Lee, head of the LCD unit, becomes president of the Active Matrix LCD division.
A Samsung spokesman said the new structure was created to make the separate business units more accountable and to bring greater flexibility in the semiconductor and LCD operations.
Samsung Electronics Co., Ltd., with 1999 sales revenue of US$22.8 billion is a world leader in the electronics industry. Headquartered in Korea, the company has operations in about 50 countries with 54,000 employees worldwide. The company consists of three main business units: Digital Media, Semiconductors and Information & Communications Businesses.
