Samsung Electronics Executive Chairman Lee Jae-yong, left, inspects Samsung SDI’s battery-manufacturing plant in Seremban, Lee Jae-yong, the executive chairman of Samsung Electronics and leader of Samsung Group, visited Malaysia during the Lunar New Year holidays last week to inspect the group’s battery business and provide support and encouragement to employees working abroad during the Korean holiday season, the company said Monday.Samsung said that Lee chose Malaysia as his first overseas destination this year. During his visit, the Samsung chief also visited Kuala Lumpur, the capital of Malaysia, to observe the local IT market, which has become a significant market for Samsung Electronics in Southeast Asia.Samsung SDI, the battery unit of Samsung Group, produces batteries in Seremban, Malaysia. The company is currently operating Plant 1 and has been building Plant 2 since 2022 to meet the growing demand for cylindrical batteries.
“The second plant, which is being built with an investment of 1.7 trillion won ($1.27 billion), is expected to be completed in 2025. From 2024, it will produce Samsung SDI’s PRiMX 2700 cylindrical batteries. These batteries are installed in various products such as power tools and electric vehicles (EVs),” Samsung said.The executive chairman inspected Samsung SDI’s first plant as well as the second plant, which is currently under construction, on Friday. He also had meals with employees there during the holiday season, gave them gifts and listened to their concerns, according to Samsung. Despite achieving record performance with 22.7 trillion won in sales and 1.6 trillion won in operating profits in 2023, Samsung SDI is being affected by the recent slowdown in the global market for power tools and EVs. But Samsung said its battery unit plans to carry out investments for the future without interruption and strengthen its technology development.”We don’t need to be discouraged by difficulties, and we should invest boldly. Let’s not be swayed by short-term results, let’s lead change through bold challenges,” the executive chairman told employees. “Let’s create new value and secure solid competitiveness.”The executive chairman also analyzed the local market’s response in Kuala Lumpur, the largest city in Malaysia, on Saturday.
Malaysia, where Samsung has the largest share in the smartphone market, is increasingly regarded as an important market for the company in Southeast Asia.”The executive chairman visited the largest store in Southeast Asia created in 2022 by Samsung Electronics and the Malaysian retail company Senheng to observe consumers’ responses to IT gadgets,” the company said.The Samsung chief has been visiting overseas business sites during Korea’s various holidays to inspect the business conducted by Samsung in several different markets.During the last Chuseok holiday, Lee visited Samsung Electronics’ R&D Center in Israel, Samsung Electronics’ TV and tablet PC manufacturing plant in Egypt and the site of an underground tunnel construction in Saudi Arabia’s NEOM city being carried out by Samsung C&T.During the 2022 Chuseok holiday, he also visited Samsung Electronics’ home appliance factory in Mexico, Samsung Engineering’s oil refinery construction site and Samsung Electronics’ branch in Panama in 온라인카지노 Central America.