The top four enterprises will embark on improving their constitution to expand investment and to change even the essence of their businesses in order to secure future competitive power in the New Year. Samsung, Hyundai Motor Group, SK and LG placed an emphasis on future competitiveness development in their respective New Year’s speeches.
Samsung Electronics Vice Chairman Kwon Oh-hyun ordered ‘new challenge and changes.’ By this, he implies constitutional improvement through competitive power reinforcement for the company’s future business items, such as B2B, software and content, despite the global economic uncertainties and aggravated competition between industries.
Vice Chairman Kwon said, “We must actively generate new demands so as to continue on the growth trend also in B2B and increase device competitiveness by strengthening our competitive power in software business.” He emphasized, “We must strive to strengthen service platform by creating contents and services with execution power.” As such, Vice Chairman Kwon stressed by the future of Samsung, which has grown on the basis of hardware, is now in software business.
For the company’s next-generation business areas including household appliances, printing and network, Vice Chairman Kwon urged the attendants to make 2015 as a ‘year of performance generation’ by saying, “Let’s realize sales growth and profit generation in the New Year.” In addition, he specified full-on promotion of new Internet of things (IoT) business items, such as smart health and smart home, by implementing future competitive power expansion strategies.
As for Hyundai Motor Group, it has set out a management policy for this year as ‘future competitive power improvement through investment expansion’ and decided to start promoting R&D competency enhancement and efficient production and sales system establishment.
Hyundai Motor Group Chairman Chung Mong-koo stressed the efforts must be exerted extensively for product competitiveness and customer satisfaction improvement in order for the company to advance as a global leader. In addition, Hyundai Motor Group confirmed its global automotive production and sales goal for this year as 8.2 million cars. As key tasks for this year, Hyundai Motor Group will promote ‘R&D competency improvement for future competitive power,’ ‘efficient global production and sales system establishment,’ ‘construction of a new office building’ and ‘reinforcement of joint growth, social contribution and safety management.’
“Future competitive power is determined according to how much we secure innovative technology and product development competencies and how we foster creative human resources,” said Chairman Chung. He emphasized, “We will increase high-tech research facilities by expanding investment in R&D fields and further strengthen academic – industrial cooperation and employment of excellent R&D human resources.”
SK Group focused on ‘innovation’ to change the company’s business constitution. Chairman Kim Chang-geun of SK Supex Promotion Committee emphasized, “While uncertainties grow in the management environment and Chairman Choi Tae-won’s absence is prolonged, we need innovative efforts to change the essence of our business and the rules of the game.”
“Let’s build competitive power to survive extreme conditions by dedicating efforts according to our management policy for this year, which is to overcome risks through ‘Alone Together 3.0,’” said Chairman Kim. “With innovative efforts to break the frame of conventional thinking, we will be able to overcome difficulties and turn even the misfortune to our advantage.”
LG Group placed on emphasis on market leadership and execution. “It is important to remember that actions speak louder than words,” said LG Group Chairman Koo Bon-moo. “With a firm resolution to lead the market, we must find the ways and implement them thoroughly.”
Chairman Koo emphasized that efforts for ‘performance creation with market-leading products to create the highest customer value,’ ‘establishment of a culture where employees work initiatively for customers and the market’ and ‘advancement into a company that fulfills its responsibilities and roles as a member of this society and the country’ are necessary in order for LG Group to become a market leader.
“The business conditions this year will continue to be difficult,” said Chairman Koo. “Instable exchange rate and oil price fluctuations will pose as a threat to us because export represents a large share in our business. In addition, considering the fierce pursuit of late starters in the market and the trends in Japan and China, we can face a greater difficulty within the next several years.”