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Monday, January 2, 2012

Samsung chairman says the company's future depends on innovation

Lee Kun-hee, the chairman of Samsung Electronics, says his company’s future will depend on new businesses, new products and new technologies. He also called upon employees to make the corporate culture more open and flexible.

In addition, Mr Lee’s New Year speech warned about the challenges facing all businesses in 2012, noting that economic growth was slowing and business conditions were uncertain.

South Korean rival LG Group was also talking about innovation in its New Year message. Company chairman Koo Bon-moo said that LG couldn’t simply follow its rivals but should be first to market with products.

[Sources: Bloomberg.com; FT.com; KoreaHerald.com]

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