November 21, 2024

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[THE INVESTOR] The new CEO of Samsung Electronics ’ chip business visited Silicon Valley where the tech giant runs offices and research centers, according to news reports on Nov. 7.

Samsung’s chip business head Kim Ki-nam has been promoted to the post in a recent leadership shakeup announced on last week.

During his visit from Nov. 3-5, which took place right after taking the helm of the chip unit, Kim reportedly had meetings with Samsung executives at the US head office in the region.

“The visit seems to show that he will continue to push for changes inside Samsung although the company has topped the semiconductor sector by beating US chip giant Intel,” an industry source said.

Samsung has marketing and R&D units at its Silicon Valley head office and runs Samsung Strategy and Innovation Center, an investment unit to seek future business engines.

Samsung posted a record operating profit in the third quarter this year thanks to robust sales of high-end chips and smartphones. It raked in 14.5 trillion won (US$13 billion) operating profit with its revenue standing at 62 trillion won. The tech giant is anticipated to ride momentum in the coming months thanks to the surging demand for chips worldwide.

By Kim Young-won (wone0102@heraldcorp.com)