Firms step up guard against crisis

Lee Kun-hee
Samsung Electronics chairman

The heads of Korea’s top four conglomerates are placing priority on exploring new markets, improving product quality and leading market trends this year in order to secure an edge in the increasingly competitive global marketplace.

In a New Year message, Samsung Electronics Chairman Lee Kun-hee urged the country’s largest business group to make inroads into new foreign markets and nurture future growth engines in 2013, while Hyundai Motor Group Chairman Chung Mong-koo encouraged employees to enhance the firm’s brand image through the production of high-quality, next-generation vehicles.

LG Group Chairman Koo Bon-moo stressed that his conglomerate should become a leader in electronics and other sectors by introducing innovative products and providing flawless customer services.

Chung Mong-koo
Hyundai Motor chairman

Lee predicted Wednesday that the world economy will continue to grow at a slow rate in 2013, adding that his group will face a bumpy road at home and abroad.

“Companies are engaged in an increasingly fierce race to produce high-quality goods and secure talented manpower and advanced technology. Samsung’s future depends on how many world No. 1 products and services it offers.”

He went on to say Samsung is facing growing competition from foreign rivals as its global status advances. “We will continue to foster skilled workers in overseas markets and make other efforts to become part of the local community in each foreign country.”

Koo Bon-moo
LG Group chairman

Lee said Samsung will invest in human resources and create a workplace environment in which each employee reaches full potential. He stressed if Samsung employees all over the world make the most of their abilities, the enterprise will be fully reborn and filled with innovation.

“Samsung should also expand its corporate social responsibility activities by sharing the fruits of its growth with small businesses. We need to invest more and create more jobs in order to become an entity loved by all people,” he said

Chung stressed the importance of improving the quality of vehicles the carmaker produces. In a New Year message, he also encouraged all executives and employees to work together to boost the firm’s global competitiveness.

Kim Chang-geun
SK Supex chairman

“Hyundai Motor Group was able to grow at a sustainable pace in 2012 despite unfavorable business conditions at home and abroad. In 2013, we will continue to face difficulties, such as the European debt crisis. So, now is the time for us to pursue qualitative growth and strengthen our core competitiveness,” he said.

The Hyundai chairman then said the automaker should continue to raise its brand image, adding it will provide top-notch customer services, expand investment and hire more workers this year.

“Over the past decade, we have built 30 plants in nine countries. In 2012, we sold a total of 7.12 million vehicles worldwide, up 8 percent from the previous year. We aim to sell 7.41 million this year,” he said. “To achieve such a goal, we will create a more integrated global production and sales network, as well as boost cooperation with our business partners.”

In his New Year message, Koo said, “Given the increasingly unpredictable business environment, it has become more difficult to grow and generate profit unless you are a leading firm. We should be able to introduce what consumers want and create a new market through innovation.’’

“LG will make every effort to develop innovative products that will alter the global industry paradigm and meet new consumer needs,’’ the chairman said, adding the group will launch creative marketing strategies, introduce products in a timely manner and offer flawless consumer services.

Kim Chang-geun, chairman of SK Group’s decision-making body Supex, said the country’s third-largest conglomerate must emerge as a truly global entity in 2013 by making inroads into new foreign markets and finding new growth engines.

“Celebrating our 60th anniversary this year, we should embark on a journey toward pushing SK’s corporate value to 300 trillion won. We will continue to make efforts to bring happiness to employees, customers and business partners,’’ he said. <The Korea Times/Lee Hyo-sik>