Korea, India to Upgrade Strategic Partnership(4)
Cooperation in International Arena
• Recognized the legitimate and long-term interests of both countries in the peace and prosperity of the Asia-Pacific region, and the importance of developing an open and inclusive economic regional architecture that is based on the principles of mutual benefit and shared opportunity.
In this context, they affirmed that both the ROK and India have a significant role to play in such a regional architecture and agreed to maintain regular consultations and close coordination in the EAS, ARF, ACD and ASEM processes.
• Agreed to work for comprehensive United Nations reform, including Security Council expansion, with a view to enhancing its representativeness and, consequently, its effectiveness, authority and efficiency, as well as its capacity to address various challenges facing the international community.
• Reiterated their commitment to the eradication of terrorism in all its forms and manifestations, and agreed to enhance cooperation in this area, including through information sharing.
• Reiterated their common commitment on nuclear disarmament and the non-proliferation of weapons of mass destruction and their means of delivery.
• Valued the G-20 as the premier forum for international economic cooperation and commended its timely and strong policy response during the economic crisis. They welcomed the Framework for Strong, Sustainable and Balanced Growth launched at Pittsburgh and looked forward to its implementation.
• Welcomed the Copenhagen Accord. They reaffirmed their determination to work closely together in the negotiations both under the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol toward an Agreed Outcome to be adopted at the 16th Session of the Conference of the Parties.
2010년 4월 7일 수요일
Korea, India to Upgrade Strategic Partnership(3)
Korea, India to Upgrade Strategic Partnership(3)
Science and Technology Cooperation
• Recognized the importance of strengthening cooperation in the field of science & technology. They welcomed the outcome of the Meeting of the Joint Committee on Science & Technology held in Seoul in December 2009 and endorsed the decision of the two sides to consider creating a dedicated fund of $10 million (with a contribution of $5 million by each side) to promote joint research.
• Agreed to strengthen cooperation in the information technology sector including through the expansion of mutual investment and personnel exchanges.
• Welcomed the signing of the MOU on cooperation in the peaceful uses of outer space between the Indian Space Research Organisation (ISRO) and the Korea Aerospace Research Institute (KARI) and expressed confidence that the MOU will facilitate strong cooperation between the two countries in this important sector.
• Shared the view that nuclear energy can play an important role as a safe, sustainable and non-polluting source of energy. They agreed to facilitate development of a framework for bilateral civil nuclear cooperation.
Social and Cultural Cooperation
• Agreed to designate the year 2011 as the Year of Korea in India and the Year of India in the ROK.
• The Indian side also welcomed the ROK initiative to open a Korean Cultural Centre in New Delhi in 2011, which will go a long way in further promoting awareness about Korean life and culture in India.
Science and Technology Cooperation
• Recognized the importance of strengthening cooperation in the field of science & technology. They welcomed the outcome of the Meeting of the Joint Committee on Science & Technology held in Seoul in December 2009 and endorsed the decision of the two sides to consider creating a dedicated fund of $10 million (with a contribution of $5 million by each side) to promote joint research.
• Agreed to strengthen cooperation in the information technology sector including through the expansion of mutual investment and personnel exchanges.
• Welcomed the signing of the MOU on cooperation in the peaceful uses of outer space between the Indian Space Research Organisation (ISRO) and the Korea Aerospace Research Institute (KARI) and expressed confidence that the MOU will facilitate strong cooperation between the two countries in this important sector.
• Shared the view that nuclear energy can play an important role as a safe, sustainable and non-polluting source of energy. They agreed to facilitate development of a framework for bilateral civil nuclear cooperation.
Social and Cultural Cooperation
• Agreed to designate the year 2011 as the Year of Korea in India and the Year of India in the ROK.
• The Indian side also welcomed the ROK initiative to open a Korean Cultural Centre in New Delhi in 2011, which will go a long way in further promoting awareness about Korean life and culture in India.
Korea, India to Upgrade Strategic Partnership(2)
Korea, India to Upgrade Strategic Partnership(2)
Economic and Trade Cooperation
• Shared the view that the CEPA will contribute to enhancing trade and investment flows between the two countries. They also reaffirmed their commitment to ensure the smooth implementation of the CEPA. It was agreed that the first meeting of the Joint Committee headed by trade ministers of the two countries or their representatives will be held in the second half of 2010 to review the status of the implementation of the CEPA.
• Agreed to set a target of $ 30 billion for bilateral trade to be achieved by 2014. They also agreed to strengthen cooperation in trade and investment, SMEs, SPS and Standards related measures, trade remedies and IPR issues.
• Agreed to enhance cooperation in the financial sector through bilateral consultations on macroeconomic policy, budget, taxation, finance, and public sector reform.
• Agreed to enhance cooperation and support at governmental level to nurture a favorable environment, including through mutual agreement on a revised Double Taxation Avoidance Convention (DTAC) before the end of 2010.
The Indian side hoped that investment from the ROK into India will expand, including in the infrastructure and manufacturing sectors.
In this context, referring to the project to set up a Korean industrial complex and technology zone in the State of Gujarat, the two leaders noted its potential to further accelerate the bilateral trade and investment linkages.
• Recognized the need to expedite the implementation of the POSCO project in the State of Orissa. The Korean side hoped that Indian investment in the ROK will also expand. It was agreed that the fourth meeting of the ROK-India Joint Committee on Investment Promotion will be held in New Delhi in 2010.
• Agreed to explore the possibility of enhancing air connectivity between the two countries. They also agreed to consider the early conclusion of a mutually beneficial Maritime Shipping Agreement.
Economic and Trade Cooperation
• Shared the view that the CEPA will contribute to enhancing trade and investment flows between the two countries. They also reaffirmed their commitment to ensure the smooth implementation of the CEPA. It was agreed that the first meeting of the Joint Committee headed by trade ministers of the two countries or their representatives will be held in the second half of 2010 to review the status of the implementation of the CEPA.
• Agreed to set a target of $ 30 billion for bilateral trade to be achieved by 2014. They also agreed to strengthen cooperation in trade and investment, SMEs, SPS and Standards related measures, trade remedies and IPR issues.
• Agreed to enhance cooperation in the financial sector through bilateral consultations on macroeconomic policy, budget, taxation, finance, and public sector reform.
• Agreed to enhance cooperation and support at governmental level to nurture a favorable environment, including through mutual agreement on a revised Double Taxation Avoidance Convention (DTAC) before the end of 2010.
The Indian side hoped that investment from the ROK into India will expand, including in the infrastructure and manufacturing sectors.
In this context, referring to the project to set up a Korean industrial complex and technology zone in the State of Gujarat, the two leaders noted its potential to further accelerate the bilateral trade and investment linkages.
• Recognized the need to expedite the implementation of the POSCO project in the State of Orissa. The Korean side hoped that Indian investment in the ROK will also expand. It was agreed that the fourth meeting of the ROK-India Joint Committee on Investment Promotion will be held in New Delhi in 2010.
• Agreed to explore the possibility of enhancing air connectivity between the two countries. They also agreed to consider the early conclusion of a mutually beneficial Maritime Shipping Agreement.
Korea, India to Upgrade Strategic Partnership(1)
Korea, India to Upgrade Strategic Partnership(1)
The following are excerpts from a joint statement issued following a summit between President Lee Myung-bak and Indian Prime Minister Manmohan Singh in New Delhi, Monday
• Considering that the ROK-India partnership is a factor for peace and stability in Asia as well as between the two countries, the two leaders decided to enhance bilateral relations to a Strategic Partnership.
Political and Security Cooperation
• Agreed to maintain regular contacts, including on the margins of international meetings and conferences.
• Reiterated the importance of the ROK-India Joint Commission co-chaired by the foreign ministers of the two countries and acknowledged the necessity of holding the Joint Commission on an annual basis.
• Agreed that the Foreign Policy & Security Dialogue will be raised to the level of vice foreign minister, Ministry of Foreign Affairs and Trade (MOFAT) of the ROK, and Secretary (East), Ministry of External Affairs (MEA) of India.
• Agreed to strengthen dialogue and exchanges in the area of defense through regular high-level military exchanges. They also agreed to explore the possibilities of joint venture cooperation in research & development, and manufacturing of military equipment including through transfer of technology and co-production.
• Agreed on the need for greater cooperation between the navies and coast guards in areas pertaining to the safety and security of international maritime traffic
The following are excerpts from a joint statement issued following a summit between President Lee Myung-bak and Indian Prime Minister Manmohan Singh in New Delhi, Monday
• Considering that the ROK-India partnership is a factor for peace and stability in Asia as well as between the two countries, the two leaders decided to enhance bilateral relations to a Strategic Partnership.
Political and Security Cooperation
• Agreed to maintain regular contacts, including on the margins of international meetings and conferences.
• Reiterated the importance of the ROK-India Joint Commission co-chaired by the foreign ministers of the two countries and acknowledged the necessity of holding the Joint Commission on an annual basis.
• Agreed that the Foreign Policy & Security Dialogue will be raised to the level of vice foreign minister, Ministry of Foreign Affairs and Trade (MOFAT) of the ROK, and Secretary (East), Ministry of External Affairs (MEA) of India.
• Agreed to strengthen dialogue and exchanges in the area of defense through regular high-level military exchanges. They also agreed to explore the possibilities of joint venture cooperation in research & development, and manufacturing of military equipment including through transfer of technology and co-production.
• Agreed on the need for greater cooperation between the navies and coast guards in areas pertaining to the safety and security of international maritime traffic
Korea-India CEPA — New Opportunity
Korea-India CEPA — New Opportunity 
As the Comprehensive Economic Partnership Agreement (CEPA) between Korea and India finally came into effect last January, improvements are expected not only in the economies but also in mutual trades in terms of quality and quantity.
CEPA will be India's second ecoomic agreement and seventh for Korea, and its strategic vision and goal will be the same for both countries. Through the effects of CEPA, Korea wants to grow as the economic and logistic hub in East Asia, and India wants to diversify its trade partners from traditional Western countries to Asian countries. While trade between Korea and India has continously improved, there was a problem of imbalance. The Korean imports from India traditionally consisted of low value added items slowly shifting to industrial products while Korea's exports to India were high value added products - brands like LG, Samsung and Hyundai have a huge presence in India.
Witthis new agreement, which took three years and six months of negotiating, Korea has abolished the import tariff of 93% on Indian imports and India has done the same on 75% of Korean imports. Besides, the agreement would increase the interactive trade account as it includes investment in various sectors like goods, services and even interllectual property. It will thus have a ripple effect in diverse fields.
Korea can now expect increased diversity and investment effects not only for large companies, but also for small and medium sized ones. Famous economic experts are of the opinion that the lack of a strong presence of small and medium sized firms is one of the weak points in the Korean economy. The abolition of tariffs between the two countries will help these companies advance into the global market through the huge Indian market consisting of 1.2 billion people.
SungHan LEE, a vice minister of the Ministry of Strategy and Finance, recently said, ``With CEPA, small Korean exporters will have price competitiveness in the Indian market.'' For example, in the case of automobile parts, the tariff will be cut down from the current 12.5 percent to between 1 and 5 percent in 8 years, and export tariffs on steel will reduce by 50 percent in 10 years, while the general tariff on steel will be phased out in 5 to 8 years. The effect will be an increase in exports of raw industrial materials to Korea.
According to the KIEP, due to the CEPA agreement, it is expected that the trade account between the two countries will increase by 3.3 billion dollars, and Korea's GDP will increase by approximately 1.3 trillion won.
As these facts show, CEPA, which is now in its initial stage, is expected to improve the relations between the two countries and bring unprecedented economic growth. As the two countries welcome the new agreement, farsighted policies and investment based on prudent decisions are essential. It will contribute to the stable industrial structure that will help small and medium companies with high-end technology and open management expand into the gloabl market.
With CEPA, Korea and India will break the existing trade barrier and not only will they open up the global market for small and medium companies with strong technology and transparnet business management, they will also form a safe industrial structure. The countries will develop their industries together. Ten years from now, I expect to see not only the expansion of their bilaterial trade to a greater height, but also a solid friendship like no other in the world.
CEPA will be India's second ecoomic agreement and seventh for Korea, and its strategic vision and goal will be the same for both countries. Through the effects of CEPA, Korea wants to grow as the economic and logistic hub in East Asia, and India wants to diversify its trade partners from traditional Western countries to Asian countries. While trade between Korea and India has continously improved, there was a problem of imbalance. The Korean imports from India traditionally consisted of low value added items slowly shifting to industrial products while Korea's exports to India were high value added products - brands like LG, Samsung and Hyundai have a huge presence in India.
Witthis new agreement, which took three years and six months of negotiating, Korea has abolished the import tariff of 93% on Indian imports and India has done the same on 75% of Korean imports. Besides, the agreement would increase the interactive trade account as it includes investment in various sectors like goods, services and even interllectual property. It will thus have a ripple effect in diverse fields.
Korea can now expect increased diversity and investment effects not only for large companies, but also for small and medium sized ones. Famous economic experts are of the opinion that the lack of a strong presence of small and medium sized firms is one of the weak points in the Korean economy. The abolition of tariffs between the two countries will help these companies advance into the global market through the huge Indian market consisting of 1.2 billion people.
SungHan LEE, a vice minister of the Ministry of Strategy and Finance, recently said, ``With CEPA, small Korean exporters will have price competitiveness in the Indian market.'' For example, in the case of automobile parts, the tariff will be cut down from the current 12.5 percent to between 1 and 5 percent in 8 years, and export tariffs on steel will reduce by 50 percent in 10 years, while the general tariff on steel will be phased out in 5 to 8 years. The effect will be an increase in exports of raw industrial materials to Korea.
According to the KIEP, due to the CEPA agreement, it is expected that the trade account between the two countries will increase by 3.3 billion dollars, and Korea's GDP will increase by approximately 1.3 trillion won.
As these facts show, CEPA, which is now in its initial stage, is expected to improve the relations between the two countries and bring unprecedented economic growth. As the two countries welcome the new agreement, farsighted policies and investment based on prudent decisions are essential. It will contribute to the stable industrial structure that will help small and medium companies with high-end technology and open management expand into the gloabl market.
With CEPA, Korea and India will break the existing trade barrier and not only will they open up the global market for small and medium companies with strong technology and transparnet business management, they will also form a safe industrial structure. The countries will develop their industries together. Ten years from now, I expect to see not only the expansion of their bilaterial trade to a greater height, but also a solid friendship like no other in the world.
KOREA : THE BIG TECHNOLOGY SHIFT
KOREA : THE BIG TECHNOLOGY SHIFT
SUCCESS GOES BEYOND APING APPLE
The “Great Recession” has affected industries everywhere, yet its impact on the electronics industry has been particularly severe. Unlike other businesses, the electronics industry is characterized by a global ecosystem of multinational players. Western firms handle the software and key components; Korean and Japanese firms the design and development of set products; and Chinese and Taiwanese firms the assembly.
Leading players in each part of the value chain therefore target not their local markets but the entire world. A case in point is Samsung Electronics, generating approximately 90 percent of its sales outside its home market. Such a structure had afforded the industry a certain degree of immunity from localized economic crises. The Great Recession, however, has served as a wake-up call to electronics industry players as economies everywhere took a synchronized dive into the abyss. In response to this new reality, the electronics industry is taking a series of initiatives to restructure.
The first of these is geographical market diversification. Of greatest interest to industry players in this regard is how to capture the “Next Billion” consumers in emerging markets such as Brazil, India, and Africa. The lack of infrastructure in these markets makes it incumbent upon electronics companies entering them to build their own distribution networks.
There’s also the challenge of offering products that are both affordable and of decent quality, at least in their basic functionalities. For these reasons, only a limited number of leading companies with large-scale investment capabilities such as Nokia were able to operate in the Next Billion markets prior to the Great Recession. These markets are now considered lifeand- death battlegrounds for the global electronics industry as they are home to a sizeable younger generation of consumers whose potential purchasing power outweighs that of developed countries. The fact that Samsung Electronics has declared Africa to be its key growth market, setting up a separate regional HQ for
the African region earlier this year, can be understood in this context.
A second visible move is toward strengthening consumer loyalty through convergences between hardware, software and services. Convergence in the past used to be hardware-tohardware ― as exemplified by the cameraphone. The success, however, of the iPod/iPhone experiment ― combining hardware with software and services (iTunes and App Store) . is shaking the industry to its very core. Whereas the hardware-to-hardware convergence that used to prevail had only brought
about cannibalization between different devices without creating new markets, convergence of the hardware-to-software variety is proving itself capable not only of unlocking new revenue sources through provision of services but also of bolstering the loyalty of key customers.
In response, electronics giants such as Samsung, Nokia, Sony, and LG are putting all their weight behind developing a whole array of connected products and services that would help them grab a slice of the software convergence market.
A third major shift is the heightened emphasis on the mid-end market. Only three to five years ago, electronics makers were launching one new product after another in a race to win over the early adopters and high-end users. This customer segment was willing to pay a premium for functionalities that were not available in mid-end products ― a premium that allowed companies to retrieve some of the early development costs. Recently, however, the tide has turned.
Not only has the center of gravity shifted to the mid-end market, there has been the takeoff of a market for “affordable luxury” products: products offering previously high-end features to mass consumers. Apple’s iPhone is a prime example. The iPhone provides features once available in phones over $1,000 at less than $300. Another example would be the growth of the market for miniature laptops, or “netbooks.” Until recently laptops cost more than $2,000 ― not exactly a commodity for all. The introduction of $300-500 netbooks with all the necessary features, however, generated a euphoric consumer response, quickly turning netbooks into a mainstay of consumer electronics. The expansion of the affordable luxury segment is likely to go on for the foreseeable future, given the growing number (since the crisis) of valueshopping consumers with an appetite for highend functionalities.
The biggest change in the sphere of operation is the shift, of power and functions away from corporate headquarters to local units. Until recently, most players had preferred to run their organizations in a highly centralized way, with HQ retaining such critical functions as planning and product development, while conceding only limited, sales-oriented functions to local units.
The recession, however, has starkly revealed how such a top-heavy approach impairs the ability of organizations to respond to crises in each locality. Thereafter, electronics companies are assigning greater roles to their local units, empowering them to forecast local demand, plan production, and thus respond quickly to fluctuations in demand in their respective areas.
The last visible trend in the industry is the growing move toward “Lean” operation. In other words, the electronics industry is being affected by the same universal trend toward the variability of fixed costs through outsourcing core functions and minimizing working capital. IBM’s recent outsourcing of its logistical operation to an external party can be viewed as evidence of this ongoing trend.
Electronics makers are all engaged in similar efforts in response to these trends, but they vary greatly in their levels of commitment and speed of implementation. I would predict a greater shakeout in the electronics industry within the next five years than that which occurred in the last two decades.
SUCCESS GOES BEYOND APING APPLE
The “Great Recession” has affected industries everywhere, yet its impact on the electronics industry has been particularly severe. Unlike other businesses, the electronics industry is characterized by a global ecosystem of multinational players. Western firms handle the software and key components; Korean and Japanese firms the design and development of set products; and Chinese and Taiwanese firms the assembly.
Leading players in each part of the value chain therefore target not their local markets but the entire world. A case in point is Samsung Electronics, generating approximately 90 percent of its sales outside its home market. Such a structure had afforded the industry a certain degree of immunity from localized economic crises. The Great Recession, however, has served as a wake-up call to electronics industry players as economies everywhere took a synchronized dive into the abyss. In response to this new reality, the electronics industry is taking a series of initiatives to restructure.
The first of these is geographical market diversification. Of greatest interest to industry players in this regard is how to capture the “Next Billion” consumers in emerging markets such as Brazil, India, and Africa. The lack of infrastructure in these markets makes it incumbent upon electronics companies entering them to build their own distribution networks.
There’s also the challenge of offering products that are both affordable and of decent quality, at least in their basic functionalities. For these reasons, only a limited number of leading companies with large-scale investment capabilities such as Nokia were able to operate in the Next Billion markets prior to the Great Recession. These markets are now considered lifeand- death battlegrounds for the global electronics industry as they are home to a sizeable younger generation of consumers whose potential purchasing power outweighs that of developed countries. The fact that Samsung Electronics has declared Africa to be its key growth market, setting up a separate regional HQ for
the African region earlier this year, can be understood in this context.
A second visible move is toward strengthening consumer loyalty through convergences between hardware, software and services. Convergence in the past used to be hardware-tohardware ― as exemplified by the cameraphone. The success, however, of the iPod/iPhone experiment ― combining hardware with software and services (iTunes and App Store) . is shaking the industry to its very core. Whereas the hardware-to-hardware convergence that used to prevail had only brought
about cannibalization between different devices without creating new markets, convergence of the hardware-to-software variety is proving itself capable not only of unlocking new revenue sources through provision of services but also of bolstering the loyalty of key customers.
In response, electronics giants such as Samsung, Nokia, Sony, and LG are putting all their weight behind developing a whole array of connected products and services that would help them grab a slice of the software convergence market.
A third major shift is the heightened emphasis on the mid-end market. Only three to five years ago, electronics makers were launching one new product after another in a race to win over the early adopters and high-end users. This customer segment was willing to pay a premium for functionalities that were not available in mid-end products ― a premium that allowed companies to retrieve some of the early development costs. Recently, however, the tide has turned.
Not only has the center of gravity shifted to the mid-end market, there has been the takeoff of a market for “affordable luxury” products: products offering previously high-end features to mass consumers. Apple’s iPhone is a prime example. The iPhone provides features once available in phones over $1,000 at less than $300. Another example would be the growth of the market for miniature laptops, or “netbooks.” Until recently laptops cost more than $2,000 ― not exactly a commodity for all. The introduction of $300-500 netbooks with all the necessary features, however, generated a euphoric consumer response, quickly turning netbooks into a mainstay of consumer electronics. The expansion of the affordable luxury segment is likely to go on for the foreseeable future, given the growing number (since the crisis) of valueshopping consumers with an appetite for highend functionalities.
The biggest change in the sphere of operation is the shift, of power and functions away from corporate headquarters to local units. Until recently, most players had preferred to run their organizations in a highly centralized way, with HQ retaining such critical functions as planning and product development, while conceding only limited, sales-oriented functions to local units.
The recession, however, has starkly revealed how such a top-heavy approach impairs the ability of organizations to respond to crises in each locality. Thereafter, electronics companies are assigning greater roles to their local units, empowering them to forecast local demand, plan production, and thus respond quickly to fluctuations in demand in their respective areas.
The last visible trend in the industry is the growing move toward “Lean” operation. In other words, the electronics industry is being affected by the same universal trend toward the variability of fixed costs through outsourcing core functions and minimizing working capital. IBM’s recent outsourcing of its logistical operation to an external party can be viewed as evidence of this ongoing trend.
KOREA : Samsung Leader Gets in Action
KOREA : Samsung Leader Gets in Action
Samsung Electronics Chairman Lee Kun-hee is raising his profile, days after returning from a two-year absence at the top of the world's largest technology firm, heading for Europe to drum up support for PyeongChang's third bid for the Winter Olympics. His departure came on the heels of his meeting with Japanese business leaders. .
The 68-year-old met with Sumitomo Chemical head Hiromasa Yonekura, who was lately designated as the next leader of the Japanese business lobby ``Keidanren,'' earlier this week.
`Chairman Lee believes Samsung still has lots of things to learn from Japanese companies,'' said Rhee In-yong, Samsung's chief communication officer and executive vice president.
`Korea and Japan have a series of areas where they can cooperate. The two nations together with China have a knack in manufacturing and the three need to cooperate not only at the governmental level but also in the private sector.''
Lee has maintained a close relationship with Japanese businessmen. He studied in Japan twice in the 1950s and 1960s at the recommendation of his late father and Samsung founder Lee Byung-chull.
He also had his only son Jay-yong study in Japan.
Under the senior Lee's stewardship, Samsung Electronics also announced this week that the Suwon, Gyeonggi Province-based company would build a ``Nano City'' at its manufacturing center.
The world's largest maker of memory chips and flat-panel displays is vying to construct a self-sufficient city by 2011 where its employees can work as well as enjoying various well-being benefits.
`We will launch projects aimed at creating further growth momentum in our semiconductor manufacturing,'' Kwon Oh-hyun, CEO of Samsung's semiconductor business, said.
`We will materialize infrastructures and policies in tune with our status of the world's top producer of semiconductors.''
In terms of specific action plans, Samsung looks to build a research center where a total of 4,800 workers can work and live with Google-like amenities and beef up the corporate social responsibility programs.
Lee returned to lead the conglomerate last month ― he resigned back in 2008 during a special prosecutor's probe into him.
Samsung Electronics Chairman Lee Kun-hee is raising his profile, days after returning from a two-year absence at the top of the world's largest technology firm, heading for Europe to drum up support for PyeongChang's third bid for the Winter Olympics. His departure came on the heels of his meeting with Japanese business leaders. .
The 68-year-old met with Sumitomo Chemical head Hiromasa Yonekura, who was lately designated as the next leader of the Japanese business lobby ``Keidanren,'' earlier this week.
`Chairman Lee believes Samsung still has lots of things to learn from Japanese companies,'' said Rhee In-yong, Samsung's chief communication officer and executive vice president.
`Korea and Japan have a series of areas where they can cooperate. The two nations together with China have a knack in manufacturing and the three need to cooperate not only at the governmental level but also in the private sector.''
Lee has maintained a close relationship with Japanese businessmen. He studied in Japan twice in the 1950s and 1960s at the recommendation of his late father and Samsung founder Lee Byung-chull.
He also had his only son Jay-yong study in Japan.
Under the senior Lee's stewardship, Samsung Electronics also announced this week that the Suwon, Gyeonggi Province-based company would build a ``Nano City'' at its manufacturing center.
The world's largest maker of memory chips and flat-panel displays is vying to construct a self-sufficient city by 2011 where its employees can work as well as enjoying various well-being benefits.
`We will launch projects aimed at creating further growth momentum in our semiconductor manufacturing,'' Kwon Oh-hyun, CEO of Samsung's semiconductor business, said.
`We will materialize infrastructures and policies in tune with our status of the world's top producer of semiconductors.''
In terms of specific action plans, Samsung looks to build a research center where a total of 4,800 workers can work and live with Google-like amenities and beef up the corporate social responsibility programs.
Lee returned to lead the conglomerate last month ― he resigned back in 2008 during a special prosecutor's probe into him.
KOREA : CEOs of KEB, SC First Praise BOK Chief’s English
KOREA : CEOs of KEB, SC First Praise BOK Chief’s English
Two foreign bank chiefs said in unison that new Bank of Korea (BOK) Governor Kim Choong-soo’s English is excellent, with one of them saying that Kim would prove to be competent enough to preside over the central bankers’ meeting as part of the G-20 meeting to be hosted by Korea.
Their assessments came during a get-together Wednesday at the BOK.
The former ambassador to the Organization for Economic Cooperation and Development (OECD) greeted bank CEOs. They included Larry Klane of Korea Exchange Bank (KEB) and Richard Hill of Standard Chartered First Bank.
The head of the BOK exchanged greetings with the two. Klane said in Korean, "I am the CEO of KEB.’’ Kim responded in English and had no problem in making himself understood.
The chief executive of SC First Bank praised Kim’s English skills. "He was perfect. His English is top class. I’m sure he is the right person to lead G-20 meetings,’’ Hill told The Korea Times.
"As I know, his English is quite advanced. He was a Korean ambassador to the OECD, so I am sure that he can chair international meetings in English,’’ Jung Hee-sik, director general of the press office at the BOK, said.
Kim was selected to succeed Lee Seong-tae as BOK governor starting in April and some said that his selection was partially based on his international expertise ahead of the G-20 summit to be held in Korea in November.
Their assessments came during a get-together Wednesday at the BOK.
The former ambassador to the Organization for Economic Cooperation and Development (OECD) greeted bank CEOs. They included Larry Klane of Korea Exchange Bank (KEB) and Richard Hill of Standard Chartered First Bank.
The head of the BOK exchanged greetings with the two. Klane said in Korean, "I am the CEO of KEB.’’ Kim responded in English and had no problem in making himself understood.
The chief executive of SC First Bank praised Kim’s English skills. "He was perfect. His English is top class. I’m sure he is the right person to lead G-20 meetings,’’ Hill told The Korea Times.
"As I know, his English is quite advanced. He was a Korean ambassador to the OECD, so I am sure that he can chair international meetings in English,’’ Jung Hee-sik, director general of the press office at the BOK, said.
Kim was selected to succeed Lee Seong-tae as BOK governor starting in April and some said that his selection was partially based on his international expertise ahead of the G-20 summit to be held in Korea in November.
피드 구독하기:
글 (Atom)