Press Release

New CEO Articulates Hyundai Electronics’ Strategy for Success in the 21st Century

By March 15, 2000 December 7th, 2020 No Comments
– In a speech today to Hyundai Electronicsemployees, Dr. Chong Sup Park, the newly appointed President and CEO of Hyundai Electronics Industries Co., Ltd., outlined his vision for the company’s success in the 21st century.

According to Dr. Park, Hyundai Electronics will focus efforts to achieve the following: raise the competitiveness of its core businesses, restructure its organization while evolving its corporate culture, and dramatically improve its infrastructure through the use of technology. Dr. Park characterized the 21st century as the Global and Digital Era, and asked for continued active participation from employees to implement his vision. “The new era of digital information is opening new opportunities and changing the way we do business,” said Dr. Park “Through technology mediums such as Internet, many formerly segmented markets are now merging into one global market. This is increasing the competition, elevating the need for access to valuable information, and making it more important than ever before to attract and retain the skilled employees who are so essential to our success. In response, we as an organization must change our style of business management to meet the new requirements of the Global and Digital Era.” Dr. Park added that he intends to help Hyundai Electronics become “the best company to work for, the best company to invest in, and the best company to do business with.” Dr. Park highlighted his strategy for effecting improvements in various core businesses. In the Memory Business Unit, Hyundai Electronics will step up efforts to expand its SRAM, Flash, and System IC Business in order to diversify its product line. The following tactics will be employed help the organization become the best and the most efficient among its competitors: Leverage the synergy resulting from the merger with LG Semicon Improve the profit margin Develop a time-to-market strategy Increase the efficiency of inventory management In the midst of the Internet and telecommunications explosion, Hyundai Electronics Telecommunications will invest heavily in IMT-2000, the next-generation code division multiple access (CDMA) based wireless systems. Dr. Park also challenged the managers of Hyundai Electronics’ Memory and Telecommunications Business Units to create added value in their products by sharing one another’s technology and business information. For the Liquid Crystal Display (LCD) Business Unit, Dr. Park reiterated Hyundai Electronics’ commitment to become a world-class supplier in this arena through investments in manufacturing facilities and research and development (R&D). Dr. Park plans to implement faster and more efficient business management in order to increase Hyundai’s productivity and raise shareholder earnings. To encourage innovative employee contributions, achievement-based salary and bonus programs will be implemented. Dr. Park said Hyundai Electronics will continue its effort to be “lean and flexible.” By integrating an e-business model and other advanced technology, he expects to improve employee productivity without increasing headcount while reducing the company’s overall cost structure. Dr. Park added that information management will be a key factor in staying ahead of the competition. About Hyundai Electronics¢â Hyundai Electronics is an industry leader in the development, manufacture, sales, marketing, and distribution of high-quality Semiconductors (including DRAM, SRAM, Flash memory, and System IC devices), Telecommunications, and Liquid Crystal Displays. In addition, HyundaiR is expanding its System IC business unit with leading technology and added deep-submicron foundry services to strategically broaden its overall semiconductor presence and achieve its goal of leading the global semiconductor market. The Semiconductor Group of Hyundai Electronics is the world’s largest DRAM supplier with eleven semiconductor manufacturing facilities world wide, and production capacity of over 300,000 wafer starts per month. Based in Korea, Hyundai maintains development, manufacturing, sales and marketing facilities strategically worldwide. Hyundai Electronics America (HEA) is a U.S. subsidiary of Hyundai Electronics Industries Co., Ltd. HEA is headquartered at 3101 North First Street, San Jose, CA 95134. More information on Hyundai Electronics America and its products is available from the company’s web site at Hyundai Electronics is a trademark, and Hyundai is a registered trademark of Hyundai Electronics America. All other trademarks are the property of their respective owners.