Major conglomerates to hold global strategy meetings to assess biz environment


















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Major conglomerates to hold global strategy meetings to assess biz environment

By Kim Hyun-bin

Major conglomerates such as Samsung Electronics, SK and LG are scheduled to hold business strategy meetings in the first half of the year to examine the groups’ major issues in the domestic and overseas business markets.

These companies have recently announced large-scale investment plans to secure future growth engines, despite increased external uncertainties and a greatly deteriorated business environment due to rising inflation and interest rates, as well as the worsening won-dollar exchange rate.

Companies are expected to discuss specific investment and implementation plans during their respective strategy meetings.

Samsung Electronics is scheduled to hold a global strategy meeting at the end of next month.

At Samsung’s global strategy meeting, held twice every year in June and December, executives at home and abroad have been meeting to review the conditions by business sector and to share their opinions on new growth engines.

Samsung has only held one such meeting due to the COVID-19 pandemic for the past two years, but it is set to hold a meeting again in the first half of this year.

SK Group Chairman Chey Tae-won
SK Group Chairman Chey Tae-won

SK Group is also preparing to hold an expanded management meeting in June, with SK Group Chairman Chey Tae-won and other group affiliate CEOs discussing the group’s vision and management status.

At this meeting, “Financial Story,” the management philosophy that Chairman Chey has emphasized, and environmental, social, governance (ESG) management cases are expected to be discussed.

LG will hold a strategy briefing session for about a month, starting on May 30.

LG Group Chairman Koo Kwang-mo and executives of affiliates will discuss mid- to long-term business strategies.

Earlier, LG announced that it would invest 106 trillion won ($84.2 million) in Korea over five years after collecting investment plans from each affiliate.

LG Group Chairman Koo Kwang-mo
LG Group Chairman Koo Kwang-mo

At the meeting, CEO Koo will discuss in depth the strategic plans prepared by each affiliate, and he is likely to encourage mid- to long-term investment and recruitment plans strongly.

It is reported that Hyundai Motor and Kia Motors will hold a meeting with the heads of overseas subsidiaries in July to review the strategies for each market.

The meeting of the heads of overseas subsidiaries is held in the first and second half of each year, presided over by the CEOs of each company and the heads of regional divisions.

“The re-opening of business strategy meetings for companies in the first half of the year shows the grave business environment and market conditions that need to be addressed,” an industry analyst said.







































































































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