Top 4 conglomerates convene strategy meetings to navigate uncertainties


Top conglomerates in Korea are preparing to conduct strategic meetings this month to address the current economic slowdown and geopolitical uncertainties, as reported by industry sources on Sunday. Samsung Electronics, the leading conglomerate in terms of assets, is scheduled to commence its series of strategic meetings from Tuesday to Thursday. The company's top executives will convene to deliberate on global strategies in key technology sectors, such as artificial intelligence, which has implications across its various businesses, from smartphones to home appliances to chips. The smartphone and home appliance business divisions will present their mid to long-term goals and strategies, while the chip business division will hold its meeting on June 25, marking the first meeting since Vice Chairman Jun Young-hyun assumed leadership in May. SK Group, the second-largest conglomerate in Korea, plans to hold its top executive meeting on June 28-29 to review business plans across its affiliates. The theme for this year's meeting is reported to be "going back to the basics," reflecting the management philosophy established during the tenure of late Chairman Chey Jong-hyun in the 1970s. The meeting is expected to include the participation of Chairman Chey Tae-won, along with other members of the founding family, to review the group's overall business portfolio and discuss risk management measures in light of Chairman Chey's recent divorce settlement ruling worth $1 billion. Hyundai Motor Group, ranked third in terms of assets, is set to convene a global strategy meeting later this month, with a focus on navigating the Inflation Reduction Act and developing post-measures for the November presidential election. The executives will also discuss growth plans in India and Southeast Asia, aiming to de-risk with regards to Russia and China. Additionally, LG Group, the fourth-largest conglomerate, recently concluded strategic meetings with key affiliates, and Chairman Koo Kwang-mo is scheduled to embark on a visit to the US to meet with business partners, particularly in batteries, AI, and biopharmaceuticals. These meetings and strategic discussions are crucial for these conglomerates to navigate the current economic challenges and geopolitical uncertainties while charting a course for future growth and success.


Previous Post Next Post