November 28, 2024

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Samsung SDI CEO Choi Joo-sun (Samsung SDI)

Samsung Display CEO Choi Joo-sun will be relocating as the new chief of Samsung SDI, the battery-making unit said Thursday.

Choi has a Ph.D in electrical engineering from the Korea Advanced Institute of Science and Technology. He has served in key positions at Samsung Electronics, including head of DRAM development in the memory division, head of strategic marketing and head of the America for the device solutions division.

He later became head of the large display business unit and CEO of Samsung Display, making him an engineer-turned-executive with a strong track record.

Choi has been recognized for his outstanding technical expertise and management capabilities, which have strengthened the competitiveness of Samsung's semiconductor technology and driven robust growth in its display business.

During his four-year tenure as the head of Samsung Display, he successfully led the company from the low-margin liquid crystal display business, a major cause of industry stagnation, and achieved significant progress in the small- and medium-sized organic light-emitting diode market. Last year, Samsung Display held a 75.9 percent share of the OLED market for IT devices and 45.9 percent of the smartphone OLED market.

Under Choi’s leadership, Samsung Display’s financial performance saw consistent improvement. Annual operating profit, which was around 2.24 trillion won ($1.61 billion) in 2020, more than doubled to 5.57 trillion won by the end of last year.

Given his role in driving operational improvements and financial growth during the display industry’s downturn, expectations are high that he will achieve similar results in the battery industry, which faces comparable challenges.

Currently, the battery industry is grappling with a significant decline in profitability due to the EV chasm -- a stagnation in electric vehicle demand that is believed to be temporary. The appointment of Choi as the new leader is seen as a strategic decision to bring fresh leadership to address these challenges.

“We expect the new CEO to leverage his accumulated expertise and leadership to drive continuous innovation and enhance the company’s value,” a Samsung SDI official said.

Meanwhile, the former CEO of Samsung SDI, Choi Yoon-ho, has transitioned to lead the new business assessment team at Samsung Global Research. This is a senior-level department focused on diagnosing and improving the management, organization and operational processes of affiliated companies through specialized consulting.

The battery company plans to announce its year-end executive reshuffle, including positions below executive vice president soon.

By Jie Ye-eun (yeeun@heraldcorp.com)