The co-CEO, who is also vice-chairman of Samsung, addressed the Note 7 issue which saw the smartphone "phablet" catch fire ending in a recall and discontinuation of the device. Samsung has so far taken a $5 billion hit in relation to the scandal and the company is now looking to move beyond the issue.
"After the expensive lesson learned last year, let us make all necessary reforms. First, we will maintain the basics of product competitiveness. Quality has been the cornerstone of our success that we must not compromise. We will restore top quality standards through improved processes and strengthened testing," Kwon said.
The CEO explained that Samsung's competitors have "grown stronger through bold investments" in new areas such as artificial intelligence. He urged employees to help the company boost "technological innovation" to stay ahead.
"It will take the collective efforts of all employees to overcome the daunting challenges ahead of us. Let's leverage our full set of capabilities as a company to confidently and definitively rise above these challenges," Kwon said.