Samsung Electronics (005930) will invest 5 trillion won over the next five years in nurturing talent and building a shared-growth ecosystem. The move is seen as a commitment to fulfilling its social responsibility as Korea's flagship company, rather than channeling the windfall from the semiconductor boom solely into employee bonuses.
Samsung Electronics announced on the 27th, in the name of its presidents, that it "will raise a total of 5 trillion won over the next five years to invest in 'shared growth and a healthy ecosystem' and 'future talent development.'" Specific measures include support for second- and third-tier small and mid-sized suppliers, the creation of an industrial accident fund, expanded inclusive financing for small business owners, and industry-academia partnerships for nurturing artificial intelligence (AI) talent.
The presidents said, "We will strengthen our responsibility so that Samsung's growth and performance create a virtuous cycle for society," adding, "Employees, including the union, have agreed to join the company's decision, and the specific manner of contribution will be finalized after discussions with the board of directors and the Compliance Committee." They also pledged, "We will revisit our management philosophies of 'contributing to the nation through business' and 'people first,' and deeply reflect on our overall management."
Efforts also continued to minimize conflict stemming from gaps in performance bonuses across business units. Roh Tae-moon, head of Samsung Electronics' DX Division and President & CEO, said, "I feel regret and a sense of responsibility that differences in market conditions have led to differing outcomes across divisions," emphasizing, "I will personally take charge of what needs to change to restore the DX Division's competitiveness and create a growth trajectory."
Roh said, "I will see for myself and personally oversee what needs to change in each business, where we must focus more boldly, and what is most urgently needed on the front lines."
