Samsung names new chiefs for its foundry and memory businesses

As a part of its year-end reshuffle, Samsung has named new chiefs for its foundry and memory businesses. The company has announced that Choi Si-young will be the new chief of its foundry business, while Lee Jung-bae will be the new CEO of its memory business unit.

Choi Si-young had earlier served as the head of Samsung’s memory manufacturing technology center, while Lee Jung-bae had previously led the company’s DRAM product and technology unit. Samsung said it aims to improve its semiconductor designing and manufacturing processes to retain its number one position globally.

Jin Gyo-young, who had earlier led the memory business, has now been named as the head of SAIT (Samsung Advanced Institute of Technology). Jung Eun-seung, who was the head of the foundry business, has now been selected as the CTO of Samsung Device Solutions.

The South Korean tech giant has not changed its three co-CEOs, though, citing market uncertainties. Kim Ki-nam will continue to be the CEO of the device solutions arm. Kim Hyun-suk will head the consumer electronics division, and Koh Dong-jin will head Samsung’s IT and mobile communications arm.

Lee Jae-seung, who is heading the home appliances division, has been promoted from the post of Executive Vice President to President. The company said that the home appliances division performed remarkably under Lee. Samsung will announce an executive-level reshuffle in the coming days.