Samsung Chairman seeks new businesses to fight competition, economy

Addressing its employees at Samsung’s New Year’s function, group chairman Lee Kun-hee emphasized to venture into new businesses to maintain growth and fight competition in the difficult global economy.

There’s an ongoing competition by global companies across all areas from products, technology development and hiring talented people to patent disputes. The market is big and opportunities are wide open, so we should find out new businesses that Samsung’s future will hinge on.

Lee also iterated a company’s success depends on how well it thrives in recession and “Samsung’s fate will be determined by how many best products and services it provides.”

Samsung Group houses 82 affiliate companies and is responsible for contributing around 20 percent to Korea’s GDP.

[button link=”http://news.mk.co.kr/newsRead.php?sc=30800006&year=2013&no=2406&sID=308″ size=”small” color=”silver” window=”new”]Source 1[/button][button link=”http://www.bloomberg.com/news/2013-01-02/samsung-chairman-lee-urges-new-businesses-as-economy-stays-slow.html” size=”small” color=”silver” window=”new”]Source 2[/button]

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