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| Samsung Electronics' headquarters in Seoul / Korea Times file |
By Kim Hyun-bin
Major conglomerates such as Samsung, SK and Hyundai Motors are actively establishing or expanding related organizations to respond to global uncertainties. The moves are intended to enable the conglomerates to respond better to the global market during an economic downturn, as it has a growing ripple effect on individual companies, according to industry officials, Friday.
"As the global economy worsens and its impact on companies grows, major groups are devising strategies to respond more systematically and quickly to global business uncertainties," an industry official said.
Samsung will establish a Global Research Center, a dedicated research organization under the semiconductor Device Solution (DS) sector, in line with this month's personnel appointment. It will be established under the DS division and is expected to be in charge of analyzing the global semiconductor field.
Samsung operates research organizations such as Samsung Global Research, Samsung Securities Research Center and Samsung Research. Through the establishment of this global research center, Samsung plans to conduct more in-depth analysis centering on the semiconductor industry and to respond to crises preemptively.
SK also either expanded or reorganized an organization at each of its affiliates that will respond to global crises.
SK Supex expanded and reorganized its strategy committee to support the implementation of its subsidiaries' global business.
SK Square also established a global talent department that actively recruits and nurtures external investment experts who are well-versed in global issues.
SK hynix will establish a new global strategy to respond to global uncertainty and geopolitical issues. In addition, to effectively respond to the development of global production facilities and regional issues, it decided to place its global operations taskforce directly under the supervision of the CEO.
In line with the rapid changes in the global business environment, the company is also pushing for organizational changes in Global Sales & Marketing (GSM) to enhance product and customer support competitiveness.
Through organizational restructuring, Hyundai Motor established a new Global Strategy Office (GSO) to serve as a control tower organization overseeing future mobility business. The GSO establishes future strategic directions in software, hardware and mobility fields.
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