Samsung Electronics appoints new chief for chip business

Samsung Electronics said on Tuesday it has appointed Young Hyun Jun as the company’s new chief for its semiconductor unit.

“This is a preemptive measure to strengthen the future competitiveness,” Samsung Electronics said in a statement.

The South Korean technology giant said that Jun, a former chief executive at Samsung’s battery arm Samsung SDI and former executive at Samsung Electronics’ memory chip business, would help the company overcome the “chip crisis” with his management know-how.