"Accelerating New Business Initiatives" DMS Launches Co-CEO System with Jung Soo-hwa and Lee Sang-jin

[Financial News] DMS, a display and semiconductor equipment maker, is shifting to a co-CEO system to accelerate its push into new businesses, including semiconductors.
According to the electronic disclosure system DART on the 28th, DMS appointed former LG Electronics Production Technology Institute vice president Jung Soo-hwa and former VIOL Medical CEO Lee Sang-jin as its new chief executive officers.
Jung is a process and equipment expert who joined LG Electronics in 1992 and built more than 30 years of experience in production, process and equipment technology. From 2018 to 2024, he served as head of the Equipment Technology Center at the Production Technology Institute. From last year through March this year, he led the Advanced Process Research Center at the institute. He has overseen a broad range of production technology, from equipment development and process engineering to future manufacturing technologies and advanced process research.
A DMS official said, "Based on Jung's experience in process innovation and equipment development accumulated on the manufacturing floor, he will lead efforts to strengthen the company's core technological competitiveness and identify new businesses." The official added, "He will also systematically organize the entire process, from identifying new equipment with marketability and profitability to technology validation, mass production and commercialization, while expanding the company's existing display equipment technologies into adjacent industries such as semiconductors."
Lee joined DMS in 2001 and spent 18 years as chief financial officer until 2019, overseeing finance and overall management. From 2019 through this year, he led KOSDAQ-listed skin-aesthetics medical device maker VIOL Medical and drove strong growth. During his tenure, VIOL Medical's revenue rose from 11.1 billion won in 2019 to 60.1 billion won last year, while operating profit increased from 3.8 billion won to 28.6 billion won over the same period.
A DMS official said, "Lee has experience building a profitability-focused growth structure at VIOL Medical by strengthening product competitiveness based on technology and expanding overseas markets." The official added, "Drawing on that management experience, he will work to strengthen the company's business competitiveness and enhance corporate value."
Through the transition to a co-CEO system, DMS aims to build a diversified business structure that combines technology and management capabilities. Jung will first take charge of technology advancement and the development of new equipment and businesses. Lee, meanwhile, will oversee market validation, commercialization strategy, profitability and financial management, with the goal of strengthening the link between technology development results and sales and profit.
A DMS official said, "By combining Jung's expertise in production, process and equipment with Lee's experience in managing a portfolio centered on high-margin products and expanding global business, we plan to speed up new business initiatives." The official added, "This will strengthen the competitiveness of our existing display equipment business while identifying new business opportunities in high-growth areas such as semiconductors, laying the foundation for mid- to long-term growth."

[email protected] Kang Kyung-rae Reporter