Sustainable growth a key focus for companies in South Korea

The CEOs of POSCO Group, KT and Samsung SDI identified strengthening social responsibilities and securing competitiveness as their focus for 2023.
By: | January 4, 2023

Three South Korean companies have identified securing sustainable business competitiveness as their primary objective for overcoming business uncertainties this year, as outlined in their New Year address to their employees, reported The Korea Times.

POSCO Group, a South Korean steel-making company, says it is committed to securing growth opportunities and sustainable competitiveness despite a challenging business environment, while simultaneously accelerating the growth strategies for each of its seven core businesses to achieve its 2030 growth vision.

Choi Jung-woo, Group Chairman of POSCO Group, said, “In South Korea, we will expand investment in new facilities for low-carbon steel product production and application of low-carbon bridge technology based on existing facilities, and strengthen technology development for the early construction of hydrogen reduction steel plants.”

“We will actively seek opportunities for local investment that can create synergies with existing investments, especially in Indonesia, India and North America.”

South Korean telco KT, headed by CEO Ku Hyeon-mo, will be strengthening its DIGICO, or digital platform company, strategy. He said, “Innovative technological capabilities are a prerequisite for KT Group’s growth and future. KT Group should contribute to the development of South Korea. Leading the digital era includes not only business but also social responsibilities.”

READ: South Korean internet platform ends remote working policy

Likewise, Choi Yoon-ho, CEO of Samsung SDI, urged employees to engage actively in their tasks this year to support the company achieve its goal of becoming a “global top-tier company by 2030”.

“Only a company with strong technological competitiveness can become a winner,” said Choi at the New Year ceremony held at Samsung SDI’s Giheung plant. “Let’s strengthen quality control and cooperation with partners throughout the entire process from development to mass production to secure the best quality. Thanks to the dedicated efforts of executives and employees, we continue to reach record sales and profits in 2022, achieving the best business performance ever.”