Strategic Planning Office, the Pivot of New Samsung
Samsung Group chairman Lee Kun-hee has revived its strategic planning office, which can be compared to the entire group's control tower, and appointed Samsung Electronics Vice Chairman Kim Soon-taek to take the wheel. Many see it as an organization overhaul.
It is said that the office, after a 28-month hiatus, will reinvent the whole group under the motto of rejuvenated Samsung. Also expected is that it will focus on a smooth transition of the control over the conglomerate from the Chairman to his son Lee Jae-yong, chief operating officer of Samsung Electronics and the group's heir apparent.
At the same time, the office concentrates on finding out new growth engines for the next 100 years. To that end, Samsung's executives are handpicking the ones to lead the office with utmost prudence.
The corporate reshuffle is anticipated to give a boost to its businesses that have relatively lagged behind, including biosimilar manufacturing and healthcare. In May, the group announced its five future growth drivers -- solar and automobile batteries, LED (light emitting diode), biopharmaceuticals and medical equipment -- and its ambition to reach 50 trillion in those five alone.
By Kim Won-seok