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Samsung Electronics Appoints New Head of Key Business Support Office

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Samsung Electronics has appointed HK Park as the new head of its Business Support Office, the company’s central decision-making body that serves as a key coordination hub for chairman Jay Y. Lee and Samsung Group’s vast network of affiliates.

The unit, recently upgraded from a task force into a full-fledged office, functions as a strategic control tower across South Korea’s largest conglomerate, whose businesses span semiconductors, smartphones, shipbuilding, and pharmaceuticals.

Park, a former chief financial officer (CFO) at Samsung Electronics, joined the Business Support Task Force a year ago before being promoted to lead it. His appointment marks the first major leadership reshuffle since the office’s formation, following Samsung’s 2017 decision to dissolve its previous corporate nerve center after it became embroiled in a high-profile graft scandal.

Park replaces Chung Hyun-ho, who will now serve as an advisor to Chairman Jay Y. Lee. According to Samsung, Vice Chairman Chung, 65, “expressed his intention to step down from management to focus on nurturing future leaders, as Samsung’s business has been back on track.”

The company also said it has no plans to expand personnel at the Business Support Office at this time.

The leadership change underscores Samsung’s efforts to streamline its internal governance while maintaining close coordination across its many divisions — from memory chips and displays to consumer electronics — at a time of intense global competition and rapid AI-driven transformation.

Nvidia to Supply Over 260,000 Blackwell AI Chips to South Korea

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Nvidia, the U.S. semiconductor leader, announced it will deliver more than 260,000 of its latest Blackwell AI chips to South Korea’s government and major conglomerates, including Samsung Electronics, SK Group, Hyundai Motor Group, and Naver. The move solidifies South Korea’s position as an emerging artificial intelligence powerhouse in Asia.

The agreement follows a meeting between Nvidia CEO Jensen Huang, South Korean President Lee Jae Myung, and leading business figures on the sidelines of the Asia-Pacific Economic Cooperation summit in Gyeongju. While the deal’s value and delivery schedule were not disclosed, Huang highlighted that just as Korea has led in producing ships, cars, and semiconductors, it can now “export intelligence” to the world through AI.

South Korea’s government plans to use over 50,000 of the chips to enhance its AI infrastructure, while Samsung, SK Group, and Hyundai will each deploy up to 50,000 chips in smart factories and autonomous systems. Internet giant Naver will purchase 60,000 chips to boost its computing power for projects like the National AI Computing Center.

Amid ongoing U.S.-China trade tensions that have restricted Nvidia’s access to the Chinese AI chip market, the company is expanding its footprint in alternative markets such as South Korea. The partnership reinforces Nvidia’s role in driving global AI advancement, particularly in industries such as manufacturing, robotics, and autonomous driving.

Samsung forecasts best profit in three years amid AI-driven chip boom

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Samsung Electronics said it expects its largest quarterly profit since 2022, as a global surge in demand for AI and memory chips pushes prices higher and tightens supply. The South Korean tech giant estimated an operating profit of 12.1 trillion won ($8.5 billion) for the July–September quarter, up 32% year-on-year and well above the 10.1 trillion won expected by analysts. This marks Samsung’s best performance in 13 quarters.

Analysts said the surprise earnings were powered by strong demand for commodity memory chips, used in data centre servers, which offset slower-than-expected progress in the company’s high bandwidth memory (HBM) chip sales to Nvidia. Despite slipping 0.5% in morning trade after an early rally, Samsung’s stock has risen around 75% this year, reflecting investor confidence in its chip rebound.

Experts noted that reduced inventories and stronger DRAM and NAND prices have given Samsung an edge. “Samsung is a big beneficiary of growing demand for commodity chips,” said Sohn In-joon from Heungkuk Securities. Meanwhile, narrower losses at its foundry unit helped ease cost pressures.

The company also expects revenue to hit a record 86 trillion won, up 8.7% year-on-year, aided by a weaker won. However, analysts warned that trade tensions between the U.S. and China, potential U.S. tariffs, and China’s export controls on rare earth materials could cloud future performance.

Samsung plans to release full quarterly results on October 30 and has reportedly introduced a stock-based incentive plan for all South Korean employees to align performance with company growth.