Samsung Chairman`s New Management

“The core of the ‘second new management’ in Samsung Group is to foster genius,” said Chairman Lee Kun-hee. “It is also imperative that society finds gifted job candidates in the early stages to help them compete freely among themselves.”

In the Dong-A Ilbo’s special series on June 24, he gave his views on human resources and his philosophy on how to employ people. “If the downward leveling trend is left ignored, the future of the country will be grim,” he said.

“It has been eight years since Korea`s per capita GDP stood at 10,000 dollars. I would like to label this an economic recession of the Devil’s 10,000-dollar age,” he said. “When all the parties of the people, government, labor and management meet halfway and put forth more effort to come to terms with each other, we can achieve a 20,000-dollar per capita GDP,” he said.

Chairman Lee claimed that in cases of countries such as Japan, the U.K., and Germany, all leaders who successfully made the national income double during their term focused their policies only on raising it without tolerating collective selfishness. “Until the per capita GDP reaches 20,000 dollars, we all should continue to foster the gifted,” he asserted.

“It is natural for businesses to rush to places where the fundamental infrastructure is well founded, but the country is still far from it,” he said. He pointed out that it was problematic for the country not to contemplate on how to be equipped with basic requirements such as financing, taxes, and English-speaking employees.

“The country is faced with a crisis between Japan and China. If leaders on various fronts of business, politics, and administration think about this, they will be appalled,” he said.

sechepa@donga.com