Samsung Electronics headquarters in Seocho District (Image courtesy of Yonhap)
SEOUL, Dec. 13 (Korea Bizwire) – Amid growing geopolitical and economic uncertainties, including escalating U.S.-China tensions and the anticipated inauguration of Donald Trump’s second term, South Korea’s major corporations are conducting high-level strategy meetings to fine-tune their business plans for 2024.
Samsung Electronics to Focus on Core Competitiveness
Samsung Electronics will host its biannual Global Strategy Meeting from December 17 to 19. The Device eXperience (DX) division, led by Vice Chairman Han Jong-hee, will meet on December 17 and 18, while the Device Solutions (DS) division, led by Vice Chairman Jeon Young-hyun, will convene on December 19.
Approximately 200 executives from the DX division and 100 from the DS division will gather to discuss critical business strategies, including plans for the launch of the Galaxy S25 and strategies for mitigating risks associated with fluctuating global exchange rates. While Chairman Lee Jae-yong is not expected to attend, he will be briefed on the outcomes.
The meeting will address Samsung’s strategy to enhance its foundational competitiveness, including global supply chain optimization, marketing initiatives, and risk management plans in light of economic headwinds.
Hyundai Motor headquarters in Yangjae-dong (Image courtesy of Yonhap)
Hyundai and LG Groups Follow Suit
Hyundai Motor Group and LG Group have also conducted strategic reviews this week. Hyundai held a Global Headquarters Meeting involving regional heads from North America, Europe, China, and other key markets.
Hyundai Motor CEO Chang Jae-hoon and Kia CEO Song Ho-sung led the discussions, joined by José Muñoz, Hyundai’s COO and head of North America operations. The meeting focused on evaluating this year’s performance, refining 2024 strategies, and addressing regional challenges.
LG Group convened a Presidents’ Council at its headquarters in Seoul, led by Chairman Koo Kwang-mo and attended by 40 senior executives. The council assessed the implications of heightened geopolitical risks, trade policy shifts expected under Trump’s new administration, and intensifying competition from Chinese firms.
Attendees emphasized the need for agility in identifying growth opportunities amid structural crises while accelerating long-term initiatives for sustainability and competitiveness.
Adapting to an Unpredictable Global Landscape
Across the board, South Korea’s top corporations are aligning their strategies to navigate a rapidly changing global business environment. They are preparing for potential trade policy shifts, technological disruptions, and escalating geopolitical risks, all while seeking to secure future growth through innovation and sustainability.
The focus on proactive risk management and strategic execution underscores the critical importance of adaptability in maintaining competitive leadership during uncertain times.
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Ashley Song (ashley@koreabizwire.com)
