Samsung Electronics summons all 9 foreign CEOs for an emergency meeting.

Samsung Electronics convenes emergency strategy meeting

This is the first time in 5 years that Samsung Electronics has held an in-person meeting with all foreign CEOs during the year-end global strategy meeting. Industry sources reported on December 18 that Samsung Electronics has confirmed the summoning of all 9 foreign CEOs to South Korea to review urgent management strategies in response to internal and external uncertainties.

This is the first time in 5 years that Samsung Electronics has organized an in-person meeting with all foreign CEOs during the year-end global strategy meeting. The last such meeting was in 2019, before the COVID-19 pandemic.

The “emergency lights” have been activated due to the exchange rate between the South Korean won and the US dollar fluctuating around 1,400 won/USD and concerns surrounding Donald Trump’s second presidential term.

According to attendees of the meeting on December 17, the first day of Samsung’s global strategy meeting held from December 17-19, all 9 foreign CEOs of Samsung Electronics—from North America, Central and South America, China, Southeast Asia, Southwest Asia, Russia and the Commonwealth of Independent States (CIS), the Middle East, Europe, and Africa—returned to South Korea one or two days before the meeting.

A senior official from Samsung Electronics attending the meeting stated, “Initially, the year-end meeting was to be held via video conference. However, with the anticipated strong tariff policies during Trump’s second term and the rising exchange rate due to domestic political risks, headquarters decided that everyone should attend in person.”

This senior official added, “We are focusing on reporting exchange rate risks and response measures by key regions.”

Sources: www.donga.com