Samsung Economic Research Institute Annual Report 2012
Annual Report 2012
Samsung Economic Research Institute
CEO's Message
In 2012, the world economy faced a new phase in the global financial crisis. Five years after the crisis erupted, the global economy has not fully regained momentum, dragging down the Korean economy. In 2012, Korea had 2% economic growth with dimming prospects for 2013. Domestic demand is sluggish, burdened by high household debt. The housing market is weak and exports are slumping. In response, the government has unveiled a 17.3 trillion won First, research should be conducted more preemptively. Amid higher uncertainties of the global economy, SERI will suggest how to improve the competitiveness of Korean companies and industries, and provide goals and ways to achieve them. This is important for Korean companies and industries because they need to think and act preemptively to be global leaders. Reflecting on 2012 and setting up plans for 2013, Samsung Economic Research Institute (SERI) will deepen its insight to help resolve the current issues. To this end, SERI will strengthen its capabilities and networking and the following three points will be the foremost priorities in its efforts.
CHUNG Ki-Young
President & CEO Samsung Economic Research Institute
Slow growth will likely continue in 2013 and thereafter. Korean companies are suffering from increasing trade protectionism and the appreciation of the won, in addition to the economic slowdown. If such an environment is prolonged, worsening profitability will be unavoidable.
Second, SERI will develop in-depth understanding on the current issues and suggest persuasive options, maximizing networks both at home and abroad. In
Samsung Economic Research Institute
CEO's Message
In 2012, the world economy faced a new phase in the global financial crisis. Five years after the crisis erupted, the global economy has not fully regained momentum, dragging down the Korean economy. In 2012, Korea had 2% economic growth with dimming prospects for 2013. Domestic demand is sluggish, burdened by high household debt. The housing market is weak and exports are slumping. In response, the government has unveiled a 17.3 trillion won First, research should be conducted more preemptively. Amid higher uncertainties of the global economy, SERI will suggest how to improve the competitiveness of Korean companies and industries, and provide goals and ways to achieve them. This is important for Korean companies and industries because they need to think and act preemptively to be global leaders. Reflecting on 2012 and setting up plans for 2013, Samsung Economic Research Institute (SERI) will deepen its insight to help resolve the current issues. To this end, SERI will strengthen its capabilities and networking and the following three points will be the foremost priorities in its efforts.
CHUNG Ki-Young
President & CEO Samsung Economic Research Institute
Slow growth will likely continue in 2013 and thereafter. Korean companies are suffering from increasing trade protectionism and the appreciation of the won, in addition to the economic slowdown. If such an environment is prolonged, worsening profitability will be unavoidable.
Second, SERI will develop in-depth understanding on the current issues and suggest persuasive options, maximizing networks both at home and abroad. In