Samsung Electronics announced on Tuesday that it has put forward its chip division head, Jun Young-hyun, and Chief Technology Officer, Song Jai-hyuk, for board positions. This move is part of the company's strategy to enhance its competitiveness in the struggling semiconductor sector.

Additionally, the South Korean firm revealed in a regulatory filing that it has nominated Professor Lee Hyuk-jae from Seoul National University as an outside director. Lee is a semiconductor specialist and leads the university's semiconductor research center.

By bringing in two chip executives and an academic expert, Samsung aims to sharpen its focus on semiconductor technology at the highest levels of the organization.

The company has been working hard to regain its edge in the chip market, especially after losing its top spot in high-bandwidth memory (HBM) chips, which are crucial for Nvidia's AI graphics processing units (GPUs), to its local competitor, SK Hynix.

Samsung mentioned that these board nominations will be up for a vote at the shareholders' meeting scheduled for March 19.