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Samsung Vice Chairman Lee Calls for Entrepreneurial Spirit
Urging Executives to Invest for the Future
Samsung Vice Chairman Lee Calls for Entrepreneurial Spirit
  • By Michael Herh
  • June 17, 2019, 14:59
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Lee Jae-yong, vice chairman of Samsung Electronics, speaks at a meeting with the executives of the company’s IT and Mobile (IM) Division on June 14.

Lee Jae-yong, vice chairman of Samsung Electronics, sought to awaken the entrepreneurial spirit of company executives at a recent meeting held on June 14 to discuss the global business strategy of the company’s IT and Mobile (IM) Division.

"We must take on the challenges lying ahead with the spirit of launching a new business instead of seeking merely to maintain our current position," Lee said at the meeting, which was attended by top officials of the IM Business Division.

Samsung Electronics faces a host of challenges, including uncertainties stemming from the U.S.-China trade war, falling prices of memory semiconductors and the prosecution’s questioning of key company officials in connection with its investigation into the accounting fraud allegations against Samsung BioLogics.

"Now, no company can be sure of its existence 10 years later," Lee was quoted as saying. "We should go beyond what we have achieved so far and face the challenges with the spirit of starting up business anew."

In addition, Lee urged the executives to invest for the future and execute the company’s planned investments for new technologies without being affected by any changes in the business environment.

He also checked on the current status of major technologies, including 6G mobile communications, blockchain and artificial intelligence, and Samsung’s collaboration with major global platform companies.

On June 13, Lee presided over a management strategy meeting with executives of the Device Solutions (DS) Business Division responsible for the semiconductor and display businesses. Lee is scheduled to discuss investment in major new industrial items such as 5G mobile communication modules and MLCCs for automobiles on June 17.

"Lee checked on management strategies and the status of each division’s investment in order to prepare for the future,” a Samsung official said. “He will also host meetings with presidents of the Consumer Electronics (CE) Business Division and other affiliates."