Samsung family overseas expansion of high-paying attractive

The Samsung Group’s major subsidiaries, including Samsung Electronics, Samsung Electronics, and Samsung SDI, will use “strengthening the global business” as another key word, and will make every effort to increase their marketing capabilities in overseas markets. Overseas sales are higher than those of large domestic subsidiaries in Korea, while consolidating their position in the existing market, and seeking to open up new markets. Subsidiaries based on domestic operations have also begun to strengthen overseas marketing efforts.

Samsung Electronics, which accounts for 85% of sales in overseas sales, is no exception. In developed markets such as Europe and the United States, Samsung Electronics will ensure that its leading products will continue to maintain its leading position, while at the same time it will invest new power in the markets that have been ignored. Samsung Electronics Co., Ltd., on behalf of its directorate, emphasized to the employees at the beginning of the year that it is necessary to strengthen the development of new markets, in particular to strengthen the global SCM (supply network management) force and quickly respond to rapidly changing market conditions.

Samsung's products are also planned to further enhance the strength of global businesses this year. Since 2010, Samsung has hired 3,000 new employees and is committed to digging up major overseas projects. At the end of last year, in the mobilization of executives and personnel, the company expanded its promotion rate centered on overseas operations and consolidated the foundation of its overseas business. Samsung Products plans to expand its project-based business overseas. In addition to simple contracting projects, overall operations such as project preparation, planning, and construction will become the core of overseas businesses. Various strategies will be introduced, such as attracting private capital when necessary, planning projects, and proposing to developing country governments.

The secondary battery manufacturer Samsung SDI switched the main field from cathode ray tubes to secondary batteries. In order to expand its market share, the company is targeting the Southeast Asian market and decided to build a secondary battery plant near Kuala Lumpur, Malaysia, into a strategic base for Southeast Asia. To this end, the company will continue to expand the plant's production capacity. At the same time, considering that only the production status and inventory status of a production base are shared at any time, global competitiveness can be improved and a global ERP (enterprise resource management) system is being built.

South Korea’s No. 1 security company, Samsung S1 (Security NO. 1), is also pushing its overseas operations and plans to invest in overseas markets. While expanding the company's business scope to include security solution projects, health care projects, information security projects, and energy projects, it has aggressively expanded into overseas markets such as China, the Middle East, and Southeast Asia. In particular, the Middle East is strengthening the security of complete sets of equipment used for development, and S1 conducted a comprehensive inspection. From the business strategy meeting held since last year, the company decided to strengthen its overseas business and currently employs new talents in various fields.

Subsidiaries in the financial sector are also committed to actively exploring overseas markets. Samsung Life Insurance Company is eyeing the Southeast Asian market. Samsung Life entered Thailand in 1997 and entered China in 2005. Currently, it is studying programs for Vietnam and Indonesia.

A related person of Samsung Group stated that another key word of this year is “global”. While maintaining and expanding the original influence of overseas markets, various strategies are being pursued to open up new markets.