Samsung Electronics Establishes New Subsidiaries in Middle East and North Africa to Accelerate Emerging Market Expansion
Strengthening Penetration of Emerging Markets with New Bases in the Middle East and Southeast Asia
Accelerating Expansion into New Businesses and Technology Investment through Overseas Acquisitions
Enhancing Business Efficiency by Restructuring Existing Production Bases in China and Vietnam
Samsung Electronics has increased the importance of emerging markets in its global business and has begun expanding new bases.
According to the business report disclosed on the 11th, last year Samsung Electronics newly established Samsung Electronics Middle East and North Africa Corporation (SEMENA) in the Middle East and North Africa region.
SEMENA was created to efficiently manage Samsung Electronics subsidiaries located in the Middle East and North Africa region and to enhance market responsiveness.
In particular, since the Middle East region has recently shown remarkable economic growth and expansion of the consumer market, with global companies actively entering, the establishment of SEMENA is evaluated as Samsung Electronics' strategic market response.
In addition, Samsung Electronics newly established Harman International Thailand in 2024. Harman International Thailand serves as an advanced base for expanding automotive electronics and lifestyle audio businesses in the Southeast Asia region.
Furthermore, overseas companies for new business entry were newly incorporated, including the UK AI data management company Oxford Semantic Technologies Limited, the French medical AI technology company Sonio SAS, and the US Sonio Corporation.
Moreover, to secure new technologies, the SVIC 67 New Technology Investment Association was established.
On the other hand, Tianjin Samsung Electronics Co., Ltd. in Tianjin, China, and DOWOOINSYS VINA COMPANY LIMITED in Vietnam were liquidated, and in Korea, production and component-related affiliates were significantly reorganized by selling GF Co., Ltd. and Dooinsys Co., Ltd.
In Europe, Samsung Display Slovakia, s.r.o., v likvidacii, a Samsung Display production corporation located in Slovakia, was liquidated, and Samsung Electronics Overseas B.V., an overseas investment corporation located in the Netherlands, was also reorganized.
Additionally, Harman's financial subsidiary Harman Financial Group LLC was liquidated, and new technology investment associations such as SVIC 48, 29, and 40 were liquidated upon the expiration of their management periods.
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Samsung Electronics plans to enhance the efficiency of its global business through this restructuring of subsidiaries and to invest more intensively in new business areas.
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