Seoul: South Korea's tech giant Samsung Electronics Co. on Monday announced a leadership reshuffle, naming the new head of its visual display business to tackle current challenges. Under the reshuffle, Lee Won-jin, who has been serving as the head of the global marketing office, will become the new official head of the business unit.

According to Yonhap News Agency, "Drawing on his track record of business success and market insight, he is expected to spearhead business turnarounds and identify new growth areas, thereby further strengthening the competitiveness of the visual display business," the company said in a release. Lee will take over the position of Yong Seok-woo, who has been newly appointed as the adviser to the head of the device experience division.

The management shake-up comes amid intense competition from Chinese manufacturers, who have been challenging South Korea's long-standing leadership in the display market. Lee is widely considered to have established the foundation of Samsung Electronics' service business for its TV and mobile unit after joining the company from Google Korea in 2014.

He also contributed to strengthening the global competitiveness of Samsung Electronics as the head of global marketing, the company said.