Samsung Electronics headquarters in Seoul. Yonhap

By Kim Hyun-bin

Major companies are planning to hold multiple business strategy meetings to address the current business environment and refine business plans as they face numerous external difficulties including high inflation, a high exchange rate, a high interest rate and low growth.

Companies complain that they have no place to turn as the economies of the U.S. and China, Korea's major export markets, are also shaky, while the prolonged Russia-Ukraine conflict, crude oil and raw material prices are skyrocketing.

Amid the crisis, Samsung Electronics is scheduled to hold a business strategy meeting for the DX division in charge of IT/mobile and consumer electronics from June 21st to June 23 and the DS division in charge of semiconductors from June 27 to 29.

This is the first business strategy meeting to be held in two years, and key executives and heads of overseas subsidiaries are expected to attend both online and in person.

"Samsung Electronics is scheduled to inspect both local and international business situations and difficulties including inflation, supply chain disruptions, and other factors that come into play," an industry official familiar with the matter said.

In addition, the meeting is expected to touch upon the management environment and market conditions such as rising transportation costs and concerns about global stagflation.

SK Group will hold the "2022 Expansion Management Meeting", the largest strategic meeting in the first half of the year, at the Walkerhill Hotel in Seoul on Friday.

"This year, about 30 key executives including SK Group Chairman Chey Tae-won and SK Supex Council Chairman Cho Dae-shik will take part in the event to discuss ESG management inspection, including the current status of Net Zero (carbon neutrality)," an SK Group official said.

At this meeting, it is known that they will discuss in-depth ways to overcome complex crises such as widening exchange rates and ways to enhance corporate value.

Hyundai Motor Company is scheduled to hold a meeting with its global regional headquarters in Korea in July to review regional and global overall strategies.

Since May 30, LG Group has been holding a strategy briefing session for each affiliate.