March 23, 2002 in Social Responsibility News

SAMSUNG Techwin, Jumping Shift to an Specialized in Digital Industry

Intensified nurturing of optical digital, semiconductor system and core modules Creation of digital corporate culture, Innovation of management infrastructure Shift from mechanical industry to business focused on electronics Forecast sales of 5 trillion won and ordinary profit of 500 billion won by 2005 Samsung Techwin(president & CEO: Joong-koo Lee) announced in 23rd of March, that Samsung Aerospace changed its name to Samsung Techwin, and at the same time, they said they have prepared a business blue print to become a specialized digital company through intensified nurturing and promoting of business in the area of optical digital, semiconductor and core module, with a target sales of 5 trillion won and ordinary profit of 500 billion won by year 2005.


Newly commencing Samsung Techwin also pronounced that they will be a world-class enterprise with the business vision of "True Technology Winner in Digital World".
In their strategy, Samsung Techwin will find a new powerhouse for continuing growth in 21st century through transformation from existing business based on mechanical industry to electronics oriented company focusing on optical digital and semiconductor related businesses.


Samsung Techwin has already a couple of successful experience in launching of specialized venture businesses in last year, such as Summertech Korea in the field of special process for engine as well as the launching of SFA (divisional company) in the field of factory automation.
They will even expand the range of such business division in coming years, by specialty unit business area, and will pursue a kind of consortium or union with various specialized companies through reinforced cooperation and role division with venture companies.


For this end, Samsung Techwin will first extend their 20-years long experience accumulated in optical technology area from camera production business into image processing & perceiving system and transmission equipment area. And subsequently, Samsung Techwin is looking forward to an eventual sales increase in this optical digital business sector, from 370 billion won of this year to 1.9 trillion won by year 2005.


From current business lines in CCTV camera, life-size picture system, and zoom digital camera, they will move into the new business arena for Internet Security, Video Conference, Remote Medical Service and Internet Communication Equipment, etc.
Samsung Techwin is also planning to increase the sales in the field of semiconductor production and electronic equipment assembly by building up a System for Provision of Total Solution, from this year’s 160 billion won to 750 billion won by year 2005.


In 23rd Regular Stockholders’ General Meeting, held on last 17th, it was resolved to add Internet business to the Business Objective in the Articles of Incorporation.


On last 23rd, Samsung Techwin held the ’Declaration Ceremony for New Company Name and Vision’ at Silla Hotel, in the presence of president/CEO Joongkoo Lee and more than 100 relevant guests, including press members from in and out of country.


Concurrently, company staffs and officers have convened separate ceremonies by each business premise, and declared March 23rd as a new Corporate Foundation Day, in lieu of original May 1st, to commemorate the new company name and said Vision for new resolution and beginning of new history.


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