CEOs of Korean conglomerates call for innovation and change to meet coming challenges скачать в хорошем качестве

CEOs of Korean conglomerates call for innovation and change to meet coming challenges

On the first work day of the year, the biggest movers and shakers of Korea's corporate world pledged change and innovation to overcome uncertainties at home and abroad. They also emphasized the need to recover public trust on the heels of the on-going corruption scandal. Oh Soo-young reports. Innovate or perish. That seems to be the mindset that Korean businesses are taking on as they venture into the brand new year. On Monday, the leaders of the country's biggest conglomerates spoke out on how they'll meet the challenges ahead. They're faced with a protracted slump in economic growth and the rise of protectionism around the world,... in addition to mounting uncertainties at home. Korea has cut its economic outlook for the year to 2-point-6 percent,... the lowest since the Asian Financial Crisis, due to rising household debt and an ongoing government-led corporate restructuring drive. Also, the companies that are suspected of involvement in the ongoing abuse-of-power scandal surrounding the president must grapple with the loss of public trust. In addressing these challenges, Lotte Group chairman Shin Dong-bin stressed the importance of chance, listing quality corporate management, new fields of business and lawful business practices as a means to grow alongside society. Koo Bon-moo, chairman of LG Group, called for a fundamental change in the corporate structure and the way business is done to spark a culture of innovation. He also said the company will strive to practice transparency in order to boost the trust of investors and the public. Chung Mong-koo, chairman of Hyundai Motor Group, emphasized the need for responsible business practices and strengthening internal management in order to push forward with new growth engines such as self-driving technology. He set out an ambitious annual sales target of 8-point-2-5 million units of Hyundai and Kia vehicles worldwide. Samsung Group did not make an official statement, as the company's leadership is currently under investigation for its possible involvement in the Choi Soon-sil scandal. Oh Soo-young, Arirang News. Visit ‘Arirang News’ Official Pages Facebook(NEWS):   / newsarirang   Homepage: http://www.arirang.com Facebook:   / arirangtv   Twitter:   / arirangworld