[EDITORIALS]Good corporate newsSamsung Electronics Co. posted record quarterly sales of 11.3 trillion won ($9.6 billion) from July through September. Its operating profit reached 2.05 trillion won, a sharp increase of 77 percent from the previous quarter. These are noticeable results despite difficult economic conditions, and also good news in such gloomy times.
Considering that Korea’s annual budget is 118 trillion won and the sales figure is from only a three-month period, this shows how successful and powerful a company can be.
It has been a long time since Samsung grew from being a domestic giant to a multinational force. Samsung commands one third of the global memory chip market and its mobile handsets are one of the most popular products around the world. Behind the success are the vision of its leaders, aggressive investment and consistent business strategies. The company also has shown its relentless commitment to developing its human resources and advanced technology.
Other domestic companies that are leading the Korean economy, such as Hyundai Motor and LG Electronics, as well as Samsung, have something in common in relation to their success. This is vision, decisiveness and consistency as well as competitiveness in terms of technological strength and human resources. In times of economic difficulties like this, such success stories as these should be embedded everywhere in our society.
What about our government? Unfortunately, the government has been drifting, without vision, and acting as a barrier to business activities and the economy. In spite of the outstanding performances of some companies, the Korean economy is losing steam in overall growth. At a time when the global economy is displaying signs of recovery, we even have to worry about how to make ends meet. The public feels anxious and the country is in confusion.
Each company has come out in front when there were no hopes for the government and politics. We need to find the driving power of a new beginning from examples of successful companies.