SFA Semicon Philippines installs new chairman, CEO
DEC 28, 2018 BY: Arra B. Francia
SFA SEMICON Philippines Corp. (SSP) has elected Joon Sang Kang to be the firm’s new chairman, president, and chief executive officer, the company told the stock exchange on Thursday.
SSP said Mr. Kang’s appointment will take effect on Jan. 1, 2019. He will replace incumbent President and CEO Byunggil Go, who will be appointed as manufacturing director for SSP’s parent firm, SFA Semicon Co. Ltd. of South Korea (SSK).
Mr. Kang said he will “commit to making the company perform better for the benefit of all stockholders.”
Prior to his promotion to chief executive, Mr. Kang served as SSP’s production team head for six years, back when the firm was still called Phoenix Semiconductor Philippines (PSPC). He was elected to the company’s board of directors last February.
Mr. Kang was also one of the original engineering team members that designed and implemented the first phase of the semiconductor assembly and packaging system under a production agreement with tech giant Samsung Electronics. The project was implemented by its parent SSK, which was then called STS Semiconductor and Telecommunications Co. Ltd.
At the same time, Mr. Kang will serve as the chairman of the board nominations committee. The board also elected utility team head Minhun Seo as director.
Incorporated in 2010, SSP’s core business is to manufacture, assemble, test, and storage of semiconductor and memory devices and applications and other related products. The company supplies its products to Samsung through a business transaction agreement that will expire on May 2019, but is renewable for another year.
SSP posted an attributable loss of $657,739 in the first nine months of 2018, compared to an attributable profit of $761,619 in the same period a year ago. This came amid gross revenues of $154.39 million, only one percent higher year-on-year.
Shares in SSP dipped 1.41% or two centavos to close at P1.40 each at the stock exchange on Thursday.