An emergency meeting was held by the top executives of the technology giant Samsung Electronics Co. and its members on Monday to discussion on the measures for guarding against risks associated with the tighter export regulations by Japan, firm’s officials stated.
The de-facto head of the tech giant of South Korea, Lee Jae-Yong, assembled the gathering with chiefs of display and semiconductor divisions, as well as, Chief Executive Officers of its affiliates, inclusive of Samsung Electro-Mechanics Co, the electronics component maker, as well as, Samsung SDI Co., which is a battery-making unit, an official of firm stated.
Lee has also planned to visit the factories of the tech giant and its affiliates beginning from Tuesday, inclusive of various other semiconductor assembly lines, their fabrication lines and display panel factory, the official told.
The Samsung Official who wanted his identity to be kept anonymous, stated that it is expected that Lee will check the entire whole value chain of the displays and semiconductors as a part of effort of dealing with the latest emergency situation.
The Vice Chairman of Samsung ‘Lee Jae-Yong’ arrived at an International Airport in Seoul on 12th of July, from his visit to Japan amidst the Tokyo’s export curbs on crucial materials for display and chip making.
Appearance of Lee on the front line comes as the giant smartphone and memory chip maker of the world could be the main target if the scope of export controls by Japan stricken beyond materials for displays and chips to televisions, smartphones, and other various other consumer electronics.
In the previous week, South Korea was removed by Japan from its so-called whitelist of trustworthy trade allies in its 2nd retaliatory step over a spat surrounding wartime forced labor, following a measure of restricting exports of crucial materials used in display and semiconductor production.