Hwang Cheol-joo, Chairman of JS Engineering, “Splitting company to enhance technological innovation and competitiveness”

“Semiconductor market to grow more than tenfold, display also the same”
“Secured 22 world-first technologies, preparations complete for a leap to a global company”,

Hwang Cheong-ju, chairman of Jusung Engineering, holds a press conference at the R&D center in Yongin, Gyeonggi Province on the 4th, explaining the vision following the human and physical division. [Provided by Jusung Engineering],
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, ‘”Currently, what is more important for Jusung Engineering than ‘2nd generation management’ is to secure trust as a global company. Restructuring the corporate governance is a strategic response aimed at globalizing corporate value,”‘,
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, ‘”Through business segment division, we will create a system to perform better. By expanding the initial market with world-only technologies in the semiconductor, display, and solar power sectors, we will increase corporate value,”‘,
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, ‘Jusung Engineering (CEO Hwang Cheol-ju) is dividing its semiconductor and solar power/display equipment businesses and transitioning to a holding company structure.’,
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, ‘The company’s policy is to enhance management efficiency, strengthen business competitiveness, and ultimately achieve the globalization of corporate value. For this purpose, it will push for human and physical division to achieve independent management for each business segment.’,
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, ‘Chairman Hwang Cheol-ju of Jusung Engineering held a press conference at the company’s R&D center in Yongin, Gyeonggi Province on the 4th, revealing the company’s plans and management philosophy for the future.’,
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, ‘Chairman Hwang emphasized, “In the era of U.S.-China tensions and nationalism, the only way for South Korea to compete is through technological innovation. In small and medium-sized industries, seizing the initial market is crucial,” and stressed, “To succeed, we must abandon vested interests and strive for innovation. Companies can grow when they innovate in technology and establish trust.”‘,
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, ‘Corporate division is ultimately a measure for technological innovation and enhancing competitiveness. Chairman Hwang forecasted that the semiconductor market will grow more than tenfold in the future.’,
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, ‘Chairman Hwang said, “With the advancement of artificial intelligence (AI), the semiconductor market will grow more than tenfold in the future. The display market will also grow in conjunction with semiconductors based on FPD (flat panel display) technology,” and stated, “In particular, when wearable, flexible, and washable displays become mass-produced, it is expected to see a significant increase.”‘,
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, ‘Furthermore, he predicted that the solar industry will become more critical to future humanity when efficiency reaches 35%. Jusung Engineering claims to have developed 22 world-first technologies and is ready to leap to become a global company.’,
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, ‘Chairman Hwang introduced, “We have secured 22 world-first technologies and are ready to leap to a global company. We will protect these 22 technologies with over 3,000 patents, enhancing their value,”‘,
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, ‘He continued, “Expanding these technologies from semiconductors to displays and solar energy, we are preparing to create new markets.” He added, “In the solar energy sector, we can lead the new market and technology. We will present next-generation technologies that will transform the global energy industry.”‘,
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, ‘Meanwhile, through a human separation, Jusung Engineering will establish a new entity tentatively named ‘Jusung Engineering’ to handle semiconductor technology development and manufacturing businesses, strengthening its position as a global semiconductor equipment company.’,
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, ‘The existing entity, tentatively named ‘Jusung Holdings,’ will enhance the competitiveness of its core businesses as a holding company and focus on investments.’,
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, ‘The unlisted entity ‘Jusung SD,’ established as a 100% subsidiary of the existing company through a physical division, will be in charge of the solar power and display businesses.’,
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, ‘The physical division date is set for November 1st, with an interim shareholders’ meeting scheduled for October 8th. The stock buyout period is from October 8th to 28th. Changes and relisting are expected on December 6th.’,
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, ‘Currently, the largest shareholder of Jusung Engineering is Chairman Hwang Cheol-ju, the founder, with a 24.63% stake and at the age of 65. Market observes a high need for the start of corporate succession and defense of managerial rights.’,
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, ‘Chairman Hwang’s second son, Eun-seok, who holds a 2.17% stake, cannot reach the efficient management rights defense of 30% even when combined. Eun-seok recently joined after working as a principal researcher at Samsung Electronics’ semiconductor research center at the beginning of this year.’,
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, ‘Eun-seok will take charge of the new flagship affiliate, Jusung Engineering. It is expected that Chairman Hwang will take over as the CEO of the holding company Jusung Holdings.’,
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