Samsung appoints veteran executive as new chief of semicon business to take advantage of AI boom

Samsung Electronics has made a strategic move to address the ongoing “chip crisis” by appointing a new chief for its semiconductor division. Young Hyun Jun, formerly in charge of future business planning, now takes the helm to bolster the company’s position in the face of a booming AI chip market.

The appointment comes as Samsung seeks to fortify its presence in high-end AI chips, including high bandwidth memory (HBM) chips, where it trails behind competitors like SK Hynix. With Jun’s extensive experience in memory chip development and previous leadership roles within Samsung, the company aims to rejuvenate its semiconductor division and enhance its competitiveness.

“This is a preemptive measure to strengthen future competitiveness by renewing the atmosphere internally and externally,” stated Samsung Electronics in a press release announcing the leadership change.

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Jun’s background as a former CEO of Samsung SDI’s battery arm and his tenure in Samsung Electronics’ memory chip business positions him well to navigate the challenges posed by the chip crisis. His appointment underscores Samsung’s commitment to addressing industry dynamics and leveraging management expertise to overcome hurdles.

The timing of the leadership change, occurring in the middle of the year, deviates from Samsung’s usual practice of personnel changes at the beginning of the year. Analysts interpret this move as a proactive step to revitalise the chip division and capitalise on emerging opportunities in the AI chip market.

Kye Hyun Kyung, the current chip division chief, will transition to lead the future business unit, signalling Samsung’s strategic realignment to focus on long-term growth initiatives.

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Analyst Lee Min-hee from BNK Investment & Securities notes, “The chip division has been lagging in competitiveness on various fronts. It also missed a lot of the global AI upward trend.” With Jun’s appointment, Samsung aims to address these challenges and position itself for success in the rapidly evolving semiconductor landscape.