People, future are keys to advance in 2023: Korean business chiefs

SK Group Chairman Chey Tae-won [Source : SK Group]

Forge strong relations with customers, enhance networking and invest on talents and new growth engines to prepare future, business leaders in South Korea echoed in their new year’s messages to their employees.

SK Group Chairman Chey Tae-won on Sunday emphasized the importance of relations in his new year’s message to employees. “Broad and deep relationships, as well as strong trust among stakeholders are the key to corporate competitiveness,” said Chey. “Companies that can present solutions to challenges such as climate change, diseases and poverty will be chosen by people in the future.”

He said that a company‘s value depends on how many loyal customers it has and how much it understands its stakeholders, meaning his company’s goal will be to strengthen the understanding of stakeholders and take steps based on actual data. He also focused on global issues including climate change, polarization, and digital divide.

GS Group Chair Huh Tae-Soo [Source : GS Group]

GS Group Chair Huh Tae-Soo stressed the importance of talent in business in his new year’s message to his employees.

“The global economic downturn, as well as volatile oil price, foreign exchange rates and inflation warn of an unprecedented long-term recession,” said Huh, adding that that corporate survival hinges on workers with innovative minds.

He also reiterated the importance of digital innovation and startup investment in driving growth and urged employees to groom new growth engines this year with aggressive investments that can lead to innovation.

Cho Hyun-jun, chief executive of Hyosung Corp, pledged to strengthen the existing customer-based strategy, known for “Voice of Customer.” The company‘s main goal would be pursue customer’s happiness beyond their satisfaction, he added.

Park Jung-won, the Doosan Group chairman, urged his employees to turn challenges into future business opportunities this year after citing uncertainties in the financial market, ongoing global battle for hegemony, and raw materials supply chain disruptions as risks. He emphasized that it is important to enhance the company‘s competitive edge and maintain leading position in the nuclear and Hydrogen technologies.