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THE INVESTOR
October 21, 2019
Big Reunion

Samsung

Samsung heir urges bold investments for future biz

  • PUBLISHED :June 16, 2019 - 13:35
  • UPDATED :June 16, 2019 - 13:35
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Samsung Electronics Vice Chairman Lee Jae-yong has called on senior executives to spur efforts to develop innovative technologies to tackle rising business challenges and foster new growth drivers, the company said June 16.

Lee, the de facto leader of the South Korean tech giant, held a meeting with senior executives of the IT and mobile division at the Suwon headquarters, south of Seoul, to discuss global strategies, the company said.
 


The global strategy meeting, which is held twice a year, has drawn keen attention as Samsung is faced with business challenges from the weak memory chip and handset business and uncertainties from a trade war between the United States and China.

During the meeting, Lee called for the company officials to spur efforts to develop new technologies, including the 6G mobile network, blockchain and artificial intelligence, and to expand global partnerships.

“We have to make bold investments for the future regardless of any changes in the business environment,“ Lee was quoted as saying in a press release.

“No company can guarantee they will be around 10 years from now,” Lee said. “We have to have a mindset of starting new businesses, beyond resting on what we‘ve achieved so far.” 

His meeting with the handset division executives came two weeks after having a separate gathering with senior officials of the semiconductor and display business as the company was assessing the ripple effect from the US decision to put a ban on Chinese tech giant Huawei Technologies.

By Ram Garikipati and newswires (ram@heraldcorp.com)

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