SEOUL, KOREA - Samsung Electronics Co., Ltd, convened its 44th Annual General Meeting of Shareholders on March 15 at its headquarter in Seocho-dong, Seoul. The meeting was attended by shareholders and institutional investors.
Samsung Electronics reported its business performance for 2012. Its consolidated revenue for the full year 2012 reached 201 trillion won and its consolidated operating profit registered 29 trillion won. Agenda items included approval for the 44th financial statements, approval for the appointment of the Board of Directors, and approval for the remuneration ceiling for the Board of Directors.
Oh-Hyun Kwon, Vice Chairman and CEO of Samsung Electronics, said, “Despite the global economic downturn and rapid changes in the business environment last year, Samsung Electronics recorded unprecedented revenue and income, thanks to shareholder encouragement and support. This enabled the company to further strengthen its leadership in the industry.”
Vice Chairman Kwon added, “Challenging conditions in the global economy are expected to continue this year, but the company will strive to improve on the business performance of last year by bolstering the competitiveness of core business areas and advancing promoted industries.”
Samsung Electronics will make diverse efforts to fulfill its social responsibilities, including the establishment of a CSR Committee under the Board of Directors.
The company’s management direction for 2013 is as follows.
Firstly, Samsung Electronics will work to advance into a company that leads the global electronics industry. To this end, the company has drawn up plans to maintain its lead over competitors in key business areas, including the mobile phone, TV, and memory businesses, while strengthening basic competencies in promoted business areas, including the home appliance, printer, camera, and system LSI businesses.
The company will also strengthen the foundation of emerging business areas, including medical devices, and rapidly develop its B2B competencies. The focus on the development of distinctive competencies in soft competitiveness, branding, and intellectual property, will continue.
Secondly, Samsung Electronics will respond swiftly to change and risk, an intrinsic competency within the company. This will be aimed at enhancing strategic flexibility, speed, and efficiency, as well as increasing global SCM competiveness.
Thirdly, Samsung Electronics will continue to make efforts to solidify its reputation among consumers and gain wider acceptance in society as a trusted and admired company.
To faithfully fulfill the company’s social responsibilities, Samsung Electronics plans to establish a CSR Committee under the Board of Directors. Consisting of outside directors, the CSR Committee will set up individual research groups for areas such as social contribution and mutual growth. Participation of experts from a wide range of fields will be actively encouraged.
Joint projects with external groups will be conducted, where required, to further foster activities that serve to help society.
Moreover, Samsung Electronics will continue to advance the culture of mutually beneficial growth with its partner companies, in which knowledge and expertise is shared to enhance the global competitiveness of its partners.
