“M&As are the most efficient way to improve the competitive power of a company, and result in its growth. In advanced markets, even hostile M&As occur freely. It is true that companies need to understand and protect minority shareholders as well as major shareholders to be fair. But would we need to protect them in hedge funds, when margin-taking and profit-seeking are the main goals?”
“There is no right answer when it comes to management structure. Each company should select a governance most suitable to them, and keep making efforts for advancement and self-purification.”
“Geopolitical risk is not only for us to take. It applies to all countries throughout the world. So, I assume we have a lot of work to do in the next two years to prepare to take off economically.”
“We need an opportunity to change the existing systems, methods and processes. In order to survive in the ‘New Normal’ era, we should make changes.”
- Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry
Park Yong-man, Chairman of the Korea Chamber of Commerce and Industry (image: Yonhap)
Jeju, July 24 (Korea Bizwire) - President Park Yong-man of Doosan and chairman of the Korea Chamber of Commerce and Industry (KCCI), which is the largest economic organization to cover major companies and small businesses, demanded management protection strategies and self-reflection from Korean companies, to prevent situations similar to American hedge fund Elliott’s attack on Samsung.
In addition, he predicted there are approximately 2 years left until the ‘Golden Time’ of the Korean economy, and discussed the changes that need to be made over the next two years.
He also recommended ways to cope with the ‘New Normal’, which is an era of low growth. Park also advocated the advancement of social processes, while emphasizing the importance of carrying long-term agendas forward.
By Kevin Lee (kevinlee@koreabizwire.com)
