CEOs of Korea's leading electronics giants are dedicated to making more investment. They were unanimous in reiterating the importance of investment when they met at the Korea Electronics Grand Fair 2009, which opened at KINTEX in Ilsan, Gyeonggi Province on Oct. 13. The event was highlighted by the attendance of leading CEOs, such as Yun Jong-yong, advisor to Samsung Electronics, Kwon Oh-hyun, president of the semiconductor division at Samsung Electronics, Chang Won-kie, president of the LCD division of Samsung Electronics, Kwon Young-soo, president & CEO of LG Display, and Kim Jong-kap, president of Hynix.
Kwon Oh-hyun said, "Now is the time for investment and speed." He made the remarks when he expressed his confidence that the semiconductor market in 2010 will be better than this year. He suggested that it is now possible to make a prediction for full-swing business recovery next year, considering that demand for personal computers has increased little by little. Until the first half of this year, semiconductor makers had experienced a bad market situation.
He added, "We're going to make more investment next year. We'll cope with the market situation with speed by releasing better products faster than our rivals."
Kim Jong-kap also painted a rosy picture of next year's semiconductor market, expressing the hope that his company's deficit will turn into a surplus in the near future.
In this regard, Kwon Young-soo agreed, saying, "We're ready to contend with rivals with our own ability, when the foreign exchange bubble is removed."
Their attention then turned to the Chinese market. Chang expressed his intention of investing in the LCD business in China, saying, "With regard to the Chinese market, we're considering making strategic investment, regardless of the market situation." He, meanwhile, expressed concerns about rival companies in Japan and Taiwan, saying, "Sharp of Japan and firms in Taiwan are making investment in full swing to dominate the Chinese market, which is emerging as the world's second largest TV market, ahead of others."
Kwon Young-soo also shifted focus to China. He said, "We've submitted an application to the government for investment in LCD in China. I hope we can obtain approval next month, so that we can make investment in China quicker than Taiwanese rivals." He expressed expectations about the future of the LCD business in China, saying that Chinese consumers' decision to replace with old CRT TVs with LCD ones will determine the market situation late this year and early next year. He said, "When the foreign exchange bubble is removed, we'll contend with our rivals based on our own ability."