Seoul: Kim Hyun-suk, former executive of South Korean tech giant Samsung Electronics Co., has been appointed as the new head of the government's research and development (R and D) strategy division for industry and energy sectors, the industry ministry said Tuesday.
According to Yonhap News Agency, Kim will lead the R and D strategy planning division under the Ministry of Trade, Industry and Energy, which is responsible for devising strategies for investment and innovation across various industries and the energy sector. Ministry officials have confirmed that the R and D division has been allocated a budget of 5.7 trillion won (US$4.2 billion) this year.
Kim's career at Samsung Electronics began as an engineer, eventually rising to the positions of head of the company's display and consumer electronics divisions, as well as serving as a senior adviser on future technologies. The ministry described Kim as an expert with deep understanding of the industrial field and strategic insight, expressing expectations that he will strengthen the connection between the government's R and D policies and the corporate sector.
This appointment is significant as it marks the first time since 2010 that a former corporate CEO has been chosen to lead the industry ministry's R and D strategy planning division. The last instance was in 2010, when former Samsung Electronics President Hwang Chang-gyu was named the inaugural head of the division.