Display equipment maker Philoptics said that it has named a new CEO for its battery equipment making subsidiary Philenergy.
Kim Kwang-il, who had been a president at Philoptics since 2018, was named to the top post. He previously worked at Samsung SDI for 21 years.
Philoptics said it expects Kim to successfully introduce core battery manufacturing equipment at Philenergy.
A Philenergy spokesperson said Philoptics and Philenergy were previously run together by a single CEO but the new nomination is its step to have Philenergy run by an independent leadership to expand and focus on research.
Philenergy split off from Kosdaq-listed Philoptics in April 2020.
It is expected to have recorded 165 billion won in revenue in 2021 __ an increase of 780% from the previous year, thanks to high demand for battery production equipment.