SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission.

Notifications
    News For You

    Samsung certified for business continuity management amid crises

    Business
    By 

    Last updated: February 13th, 2023 at 21:26 UTC+01:00

    The semiconductor market has been in turmoil for the past couple of years due to supply chain disruptions caused by COVID and, more recently, fears of an economic recession. But despite these hurdles and the fact that Samsung expects profits from its semiconductor business to be halved in 2023, the company recently announced that it attained the ISO 22301 Certificate for Business Continuity Management System (BCMS) from the British Standards Institution (BSI).

    The ISO 22301 certificate is the international standard for BCMS and represents “the highest level of commitment to business continuity and disaster preparedness.” The certificate shows that an organization — in this case, Samsung Electronics' DS Division — has the ability to resume its resilience or business after a crisis within global standards.

    The COO of BSI Korea stated that “Samsung showed strong will in having a robust business continuity management system, and displayed world-class crisis monitoring and response capabilities.”

    Samsung says it will continue to enhance its business resilience and management system so it can overcome only conventional crises as well as emerging issues such as global supply chain disturbances.

    The Korean tech giant now aims to secure ISO 22301 certifications for its other semiconductor campuses inside and outside its home country. And with these standards attained, the company expects customer confidence to grow.

    BusinessGeneral Samsung ElectronicsSamsung Smeiconductor
    Galaxy AI summarized

    Scroll for more related content
    News For You

    You might also like

    Workers at Samsung Electronics strike for the first time in 55 years

    Workers at Samsung Electronics strike for the first time in 55 years

    Workers' unions always dangle the threat of a strike when negotiating with the company. That's just how these things go. Strikes aren't a big deal if the union calls for them often, but they are a significant event if they've never happened at a company before, as it signals the acceptance of a new normal. […]

    • By Adnan Farooqui
    • 2 days ago
    Samsung boss meets Verizon CEO for even closer collaboration

    Samsung boss meets Verizon CEO for even closer collaboration

    Samsung Electronics Chairman Lee Jae-yong recently met Verizon CEO Hans Vestberg to discuss how their companies can improve collaboration. Lee recently left South Korea to embark on a trip to meet Samsung's close partners and various political figures across the world. Lee is visiting New York, Washington DC, and Silicon Valley in the US during […]

    • By Asif Iqbal Shaik
    • 3 days ago
    Samsung stock surges on possible memory deal with NVIDIA

    Samsung stock surges on possible memory deal with NVIDIA

    The shares of Samsung Electronics have not performed well this year. As of last week, the company's stock price was down nearly 8% year-to-date. Investors have been concerned about the headwinds facing Samsung's chip business, which remains one of its most lucrative divisions. Rumors that Samsung's HBM3E modules had failed NVIDIA's quality tests didn't help, […]

    • By Daniel van Dorp
    • 4 days ago
    Historic Samsung union strike not likely to disrupt memory supply

    Historic Samsung union strike not likely to disrupt memory supply

    Strikes are never good for business. Unhappy employees walking out, stopping the wheel of production in its tracks, and potentially causing serious business disruption is something that companies go to great lengths to avoid. Samsung Electronics has been engaged in negotiations with its largest employee union for several months now, but the deadlock still persist. […]

    • By Adnan Farooqui
    • 6 days ago
    Foreign investors are dumping Samsung shares worth billions

    Foreign investors are dumping Samsung shares worth billions

    As one of the leading companies in South Korea and the world, you can imagine why investors from across the globe like to purchase shares in Samsung Electronics. It provides them with an opportunity to share in the success, as this Samsung company is the conglomerate's cash cow, making everything from mobile devices to high-bandwidth […]

    • By Adnan Farooqui
    • 1 week ago
    Samsung workers to go on strike next week over demands for higher salaries

    Samsung workers to go on strike next week over demands for higher salaries

    Samsung's unionized workers in South Korea will stage a walkout next week to escalate their strike against the company over unmet demands. The company's workers said they have demanded higher wages, but the South Korean firm hasn't agreed to those demands. Unionized workers in Samsung Electronics will stop work for a day The tech giant's […]

    • By Asif Iqbal Shaik
    • 2 weeks ago