With only a few weeks left in 2023, South Korean businesses are busily formulating their management strategies for the upcoming year.

According to sources on Sunday, Samsung Electronics is set to commence its global management strategy conference on December 14, 2023. The company holds two global strategy conferences annually, in June and December, where both domestic and international executives share emergent issues related to business sectors, regional concerns, and deliberate on business plans for the following year.

The upcoming global management strategy conference will be chaired by recently appointed figures from the latest management reshuffle, including Samsung Electronics Vice Chairman Han Jong-hee, who is the head of the Device Experience (DX) division, and Kyung Kye-hyun, who heads the Samsung Electronics Device Solutions Division. Around 200 executives from the DX division and over 100 from the DS division are scheduled to participate in the conference. Chairman Jay Y. Lee is not expected to attend the meeting in person but will be briefed.

At this conference, the DX division, responsible for appliances including smartphones and TVs, is expected to discuss strategies such as reinforcing premium products due to the waning demand for flagship products. The DS division, which oversees semiconductors, is expected to forecast the global semiconductor market for 2024 and come up with strategies to further advance technological development.

Meanwhile, LG Electronics, under the leadership of CEO Cho Joo-wan, will hold a company-wide management meeting on December 15 to discuss strategies for enhancing business competitiveness and accelerating preparations for the future. The conference, which is expected to be attended by around 300 executives, will take place at Pyeongtaek LG Digital Park. The company conducts CEO-led company-wide meetings biannually, scrutinizing business situations and the company’s strategic direction with participation from domestic and international management.

LG Electronics is expected to discuss its overseas strategy in depth at the meeting after the company formed an overseas sales division to enhance its expertise.

By Oh Chan-jong and Minu Kim

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