New General Director for Samsung Vietnam
South Korean technology giant Samsung has announced the appointment of Mr. Shim Won Hwan as General Director of Samsung Vietnam, replacing Mr. Han Myoung Sup.
This is the second time Mr. Shim has been appointed to the position, which he previously held from 2010 to 2014. He committed to seeing Samsung Vietnam retain its leading position in the world.
Mr. Shim, 58, has 33 years of experience with Samsung since graduating from South Korea’s Kyungpook University. He has held many positions at Samsung Electronics, including CEO of the Gumi factory in South Korea.
In his new position, he will lead communications, foreign affairs, environmental health and safety (EHS), and administration and personnel.
Mr. Sup, who led Samsung Vietnam for two and a half years, will return home to a new posting.
Samsung Electronics Vietnam in northern Bac Ninh province (Samsung Bac Ninh) and Samsung Electronics Vietnam Thai Nguyen in northern Thai Nguyen province (Samsung Thai Nguyen) grew strongly last year and earned the highest revenue and profit for Samsung Electronics.
Samsung Bac Ninh recorded net revenue of VND408 trillion ($17.9 billion) and net profit of nearly VND43 trillion ($1.89 billion), an increase of 5 per cent against 2015.
Samsung Thai Nguyen, meanwhile, recorded revenue of VND495 trillion ($21.7 billion), an increase of 21.6 per cent, while its profit rose 65 per cent to over VND55.5 trillion ($2.44 billion). Its profit has therefore more than tripled since 2014.
In addition, Samsung Display Vietnam (SDV) and the Samsung Electronics HCMC CE Complex (SEHC), after one year of operations, also recorded revenue in the trillions of VND. Net revenue at the four Samsung subsidiaries in Vietnam reached over $46.2 billion and profit nearly $4.4 billion.
Samsung Display officially received an investment license on February 24 for a $2.5 billion expansion at Bac Ninh province’s Yen Phong Industrial Park.
The government has given in principle approval to the expansion, providing preferential treatment available to large-scale projects. Through the expansion, Samsung Display will increase its investment in Vietnam to $6.5 billion. This was also the first billion-dollar project licensed in the country this year.
Samsung Vietnam’s exports recovered in the second quarter, worth an expected $11 billion. The giant targets revenue of $60 billion for the year as a whole, with export turnover of $50 billion.
VN Economic Times