December is the month when the nation’s top conglomerates customarily unveil their management visions for the new year.
This year, the companies were given a double burden of preparing for the heightened uncertainties of the global economy, while also preparing for the incoming government of Park Geun-hye.
Samsung Group on Thursday held an annual year-end seminar, with some 30 chief executives in attendance, including Choi Gee-sung, the head of corporate strategy office to discuss such plans.
While most Samsung employees are away for the winter holidays that started on Christmas Eve, the senior officials are keeping busy at the two-day seminar on how to shape next year’s business goals.
Globalizing the company’s non-electronic sectors is expected to be a key agenda item for the Samsung executives this year, according to industry sources.
There had been concerns about the group’s heavy reliance on its flagship Samsung Electronics, which makes up almost 70 percent of group sales.
Samsung Electronics Chairman Lee Kun-hee, who is in Hawaii for a three-week vacation, is expected to reveal his management plans for 2013 in a meeting scheduled for Jan. 2 where he will discuss these and other plans with the heads of the other affiliates.
Marking the 25th anniversary of his taking over the management of Samsung, Lee said last month, “We still have a long way to go. We should start a new challenge.”
Hyundai Motor Group chairman Chung Mong-koo called for “predicting management” that better responds to the global car market’s unpredictable factors such as competition and consumer tastes.
“Build specific action plans and respond aggressively to rival companies across key regions,” he told company leadership on Monday at his last meeting of the year.
“We have completed global production network together with the latest plant in Brazil. We have no plan for increasing production capacity and will focus more on growth in product quality.”
Amid slowing car sales in the domestic market overall, the Hyundai chief reaffirmed the importance of global markets. “Without success in overseas markets, Hyundai has no future,” he said.
The Korean auto giant has set its sales goal for next year at 7.41 million vehicles globally, a 5.7 percent increase from this year.
In the meantime, other business leaders delivered new year’s messages to employees.
LG Group chairman Koo Bon-moo urged specific action plans to expand market presence across businesses.
“We need to take actions to lead the market. Without specific actions, that could end up being just a slogan,” at a recent meeting with ranking officials.
POSCO chairman Chung Joon-yang also urged employees to further tighten their belts next year.
“This year was tough and next year will not be different. Even though resources are limited, we can exert unlimited creativity to overcome difficulties,” he said.
Hyundai Group chairwoman Hyun Jeong-eun also thanked employees for their contribution over the past year in her annual email message.
