Samsung’s top execs to meet next week

Samsung’s top execs to meet next week

Samsung Electronics said Friday it will hold a global strategy conference with its top executives from regional branches overseas and business unit heads in Korea next week under the theme of “businesses in a low-growth era.”

The company’s vice chairman Lee Jae-yong and three chief executives ― Kwon Oh-hyun, Yoon Boo-keun and Shin Jong-kyun ― will join the conference, which is regularly held twice a year.

Attention is being paid to whether the top Samsung executives in the conference would discuss in depth Samsung’s new growth engines, including the automotive parts business, industry watchers said.

In its latest move to streamline its business structure earlier this week, Samsung announced it would make a foray into the auto parts business, creating a team dedicated to developing next-generation auto components.

It also created two new subdivisions ― the audio and video business team and the mobile-enhancing team under the firm’s flagship consumer electronics business and mobile communications units, respectively.

An industry source said, “Samsung’s top executives will likely share in-depth information of the newly created teams and future paths for the auto parts business.”

A spate of global tech giants have been jumping on the wagon in developing smart cars running on electric batteries instead of gas and up-to-date technologies including head-up displays, as well as operating systems for vehicles.

In Korea, some LG Group affiliates, including LG Electronics, LG Display and LG Innotek, have begun producing auto parts including displays and batteries.

Battery makers Samsung SDI and LG Chem are competing to secure partnerships with global auto makers for the supply of electric batteries in the global market.


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