Samsung Electronics Co., Ltd. today named Yoon-Woo Lee as its new Vice Chairman & CEO. Vice Chairman Lee will replace Jong-Yong Yun, who has led Samsung Electronics since 1997 and who will now serve as the company’s standing adviser.

Dr. Chang-Gyu Hwang, President of Samsung Electronics’ Semiconductor Business, will replace Vice Chairman Ki-Tae Lee and will lead the Corporate Technology Operations. Vice Chairman Ki-Tae Lee will lead the External Relations operations at Samsung Electronics.

Oh-Hyun Kwon, who has led the System LSI Division at Samsung Electronics’ Semiconductor Business, was named as the company’s new President of Semiconductor Business. Hyung-kyu Lim, who heads Samsung Advanced Institute of Technology, was put in charge to set up a new team devoted to developing new businesses.

“The latest measure reflects the company’s determination to focus on developing future growth engine, and to find a new momentum to become a world leading company,” the company said in a statement.

The newly appointed Vice Chairman & CEO Yoon-Woo Lee joined Samsung SDI in 1968 and since 1977 he started working for Samsung Electronics. Vice Chairman Lee was the President of Semiconductor Business from 1996 to 2004, and was Vice Chairman of Corporate CTO from 2005 to 2007.

Vice Chairman Lee has been widely credited for turning Samsung Electronics into a global leader in semiconductor business. Vice Chairman Lee’s most recent position was at the External Relations team, where he acted as a chief representative for the company.

“Vice Chairman Lee has both the leadership and the experience to take Samsung Electronics to the next level,” the company said.

Vice Chairman Jong-Yong Yun, who has led the company since 1997, has played a pivotal role in turning Samsung Electronics into a true global company. Since Chairman Kun-Hee Lee announced reform plans in April, Vice Chairman Yun offered to step down as he believed it was the right time to resign and let his junior colleague take over to lead the company.

Vice Chairman Ki-Tae Lee, who has been named to lead the External Relations at Samsung Electronics, is well known as the man behind “The Anycall Success Story.” For these backgrounds, Vice Chairman Ki-Tae Lee is widely viewed as the most suitable person for handling external relations.

Dr. Chang-Gyu Hwang, who was named as the company’s new Corporate Technology Operations’ head, has led the company’s Semiconductor Business since 2000. Under his leadership, Samsung Electronics became the world’s No. 1 maker of DRAM and Flash memory. Dr. Hwang, who is well known for creating “Hwang’s law,” is widely viewed as the most qualified man to lead the corporate technology operations for his deep understanding of future technology.

Oh-Hyun Kwon, the newly appointed President of Semiconductor Business, holds a Ph.D. degree in electrical engineering from Stanford University. President Kwon, who has both experience in both memory and non-memory business, is widely expected to further solidify the company’s leadership in the Semiconductor Business.

Samsung Electronics, which has been focusing on TV, semiconductor and mobile phones, believes that it is urgent to find new growth engines amid fierce competition in the electronics industry. To this end, Hyung-Kyu Lim has been put in charge to lead those operations.

Following today’s CEO reshuffle, Samsung Electronics plans to make an announcement on under CEO executive-level changes soon.