January 08, 1996 in Social Responsibility News

SAMSUNG Electronics to Achieve W45 Trillion in Sales, US$40 Billion in Exports by 2001

Samsung Electronics Co. (SEC) plans to be among the world? top five electronics makers in 2001, with W45 trillion (US$60 billion) in total sales and pretax income at industry leading levels. Samsung held a conference on February 8 to explain its finances. At the conference company officials revealed their 21st century vision:

Investments of W28 trillion (US$37 billion) between now and 2001 are to result in an average annual growth rate of 15.8%, making total sales in 2001 W45 trillion (US$60 billion), US$40 billion of which would be in exports. Pretax income for 2001 is to be W5.4 trillion (US$7 billion), or 12% of total sales.

Samsung Electronics Vice-chairman & CEO Kwang-Ho Kim predicted that the company would achieve its goal of being among the industry`s top five by (1) improving its business structure, (2) globalizing, and (3) maximizing efficiency. He added that implementing the company`s new corporate culture would make Samsung Electronics one of the world`s best.

To improve Samsung`s business structure, multimedia and information systems have been selected (along with semiconductors) as ?trategic business areas to lead corporate growth in the 21st century. Samsung Electronics plans to focus new investment in these two areas and emerge as one of the leaders in each one.

R&D and new facilities investment will also continue unabated in the semiconductor area so that Samsung can command the top position in memory products (DRAMs). The company will also continue expanding its world Best (consumer electronics) product lines to achieve the market leading position.

Importantly, Samsung Electronics will operate five regional headquarters around the world and continue to establish integrated production complexes overseas. Overseas operations will be completely localized. Work methods, business systems, infrastructure and employee skills will be constantly improved so that Samsung can more quickly provide products that cost less and are of higher quality.


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