CEO Hwang Seong-woo at the general meeting of shareholders Market cap evaporated by 5 trillion won in one year… 10 trillion won also faces collapse Strengthening the cloud..Expanding the logistics platform Samsung SDS CEO Hwang Seong-woo is giving a greeting at the 37th Annual General Meeting of Shareholders held at Samsung SDS Jamsil Campus on the 16th. Photo courtesy of Samsung SDS [Seoul Economy] ��We havent been able to keep up with the big wave of cloud transformation. Its late, but I will do my best to seize the opportunity.” Samsung SDS CEO Hwang Seong-woo communicated directly with shareholders at the 37th Annual General Meeting of Shareholders held at Jamsil Campus on the 16th. At this meeting, he presented a business vision to overcome the decline in stock prices and self-reflection on the business. In the future, it plans to focus its business capabilities on cloud and import/export logistics platforms. CEO Hwang showed a graph of the stock price for one year after taking office, diagnosing that ��the stock price has continued to decline since taking office.�� ��The market is demanding fundamental changes to the company.�� Samsung SDS stock price, which reached 190,000 won in March last year, has recently fallen to 130,000 won. The market capitalization has also evaporated by about 5 trillion won in one year, putting it in a situation where even 10 trillion won is threatened. Regarding this, CEO Hwang said, ��Unfortunately, I have no choice but to admit that I am late in preparing for the cloud transition. Its late, but were still trying to get it back, seeing that we have a chance.” He emphasized that as part of this effort, Samsung SDS is making efforts to transform its cloud-native workforce along with a major reorganization last year. He added that he is focusing on cloud managed service providers (MSPs) through close collaboration with global cloud service providers (CSPs). He also presented a specific blueprint for the cloud. CEO Hwang said, ��Last year, Samsung SDS had a meaningful year in which the proportion of sales in the external business sector in the IT business exceeded 20%. We will raise the proportion to 30%,�� he said. He continued, “I will return to the fundamental spirit of when I was founded in 1985 and prepare for the future cloud computing business,” he said. Regarding the logistics business, which is one of the growth engines of Samsung SDS, ��Experts predict that the third-party logistics (3PL) that has not converted to digital will disappear by 2030.�� We decided to start this year in earnest,�� he said. He added, ��Our goal is to grow into a global major platform by 2025, centering on Cello Square, such as launching a business in China in the first half of this year.�� Lastly, he emphasized, ��Please remember that Samsung SDS is a cloud company and an import/export logistics platform company.
