Samsung Electronics announced a change in leadership for its memory and foundry chip divisions. The South Korean tech giant appointed Jun Young-hyun as co-CEO and head of the memory chip arm, while Han Jin-man will become the president and head of the company's foundry business.

Samsung Electronics on Wednesday announced new heads of its memory and foundry chip units, as it scrambles to catch up with SK Hynix and Taiwan's TSMC in the booming AI chip market.The South Korean giant's shares fell 2% at market open as the sweeping reshuffle of top brass did little to calm concern about competitiveness as well as policy risk associated with the incoming U.

Samsung Electronics Co. announced its new leadership Wednesday with a focus on the semiconductor business, in an apparent move to strengthen its future competitiveness in the field. Jun Young-hyun, vice chairman and head of the device solutions division,