Arceo & Cuarto 1

Arceo, Riegele

Cuarto, Alyssa

EU 133, Mr. Tristan Osteria

December 22, 2010

1.) Why did the group select this particular agent? To what particular niche/sector does

the chosen agent belong to? What is its area of operations?

Samsung Group is a multinational corporation whose centre of operations is in Seoul,

South Korea. It has 124 offices and facilities across 56 countries in the Asia Pacific, Australasia,

Eastern Europe, Latin America, Middle East and Africa, North America, and Western Europe.

As of 31 December 2009, Samsung Group employs about 275,000 people [ CITATION Sam09 \l

13321 ].

The Group’s subsidiaries include 33 listed companies and foundations operating in

various sectors[ CITATION Sam10 \l 13321 ]: Samsung Electronics; Samsung SDI; Samsung

Electro-Mechanics; Samsung Corning Precision Materials; Samsung SDS; Samsung LED;

Samsung Mobile Display; Samsung Heavy Industries; Samsung Total Petrochemicals; Samsung

Petrochemical; Samsung Fine Chemicals; Samsung BP Chemicals; Samsung Techwin; Samsung

Life Insurance; Samsung Fire & Marine Insurance; Samsung Card; Samsung Asset Management;

Samsung Securities; Samsung Venture Investment Corporation; Samsung C&T; Samsung

Engineering; Cheil Industries; Samsung Everland; Hotel Shilla; Cheil Worldwide; S1

Corporation; Samsung Medical Center; Samsung Economic Research Institute; Samsung Lions;

Samsung Foundation of Culture; Ho-Am Foundation; Samsung Welfare Foundation; and

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Samsung Life Public Welfare Foundation. Of these, Samsung Electronics is considered as

Samsung Group’s flagship company.

The Group’s electronic business produces memory chips, computer and

telecommunications equipment, televisions, picture tubes, glass bulbs, printed circuit boards

(PCBs), digital tuners, glass substrates for TFT-LCDs, semiconductor material parts, next-

generation small and medium displays, digital cameras, and optical devices, among other things.

Its chemical business division produces and provides chemical products for everyday life,

such as synthetic polymer resins (polyethylene and polypropylene), base chemicals (styrene

monomer and paraxylene) and other petrochemicals and petroleum-based products. It also

manufactures macromolecule and engineering plastics and special chemical products.

Samsung Techwin provides products and services to fine machinery industry, including

engine manufacturing and special businesses related to national defence. Operations of the

financial services division include life and general insurance, credit cards, stock securities,

instalment financing, and investment trust services. Samsung is also involved in real estate

development, construction, textile industry, catering and food services, and electronic security

services.

Samsung has been recognized as the fastest-growing global brand. For the 2001-2002

period, the value of the brand was estimated at about $8.3 billion, a 30% increase from the

previous period. Then in 2005, the Samsung brand value was already worth $14.96 Billion.

Today, Samsung is the second leading producer of cell phone handsets, behind only

Nokia[ CITATION Rog02 \p 78 \l 13321 ], and has captured part of the market shares traditionally
 Arceo & Cuarto 3

belonging to market leader and rival Sony – markets for camcorders, flat-panel computer

monitors, DVD players and recorders, and digital TVs.

For the 2009 financial year, Samsung Group posted $172.5 Billion in net sales, $294.5

Billion in total assets, and $13.8 Billion in net income.[ CITATION Sam10 \l 13321 ]

The authors selected Samsung Group as the subject of this paper because of its notable

accomplishments throughout its history. It has gone from being a much-maligned brand

considered to be a cheap option for consumer electronic products like PDAs, cell phones, and

DVD players, and with great skill in brand management and research and development,

transformed into a highly regarded brand that placed a high premium on quality and innovation.

2.) What is the role of the agent in contributing to the political, economic, and business

environment of that particular locality and country? How about in the region and

other regions? What are the patterns of interaction by that particular agent?

In its home country, the Samsung Group of companies is at the forefront of all South

Korean conglomerates. As a chaebol, a Korean term for a family-owned business, it enjoys

government assistance, particularly in terms of the assurance of the availability of bank

financing. However, with $172.5 billion in revenues in 2009, considered the world’s largest by a

conglomerate, it seems that the Samsung Group has become so financially powerful and secure

that any real need of government assistance seems laughable. The top 30 chaebol alone accounts

for more than 40% of South Korea’s GDP, and of this, Samsung accounts for 15 percentage

points. [ CITATION Myu10 \p 129-130 \l 13321 ]

In the creation of its products, Samsung acquires significant amounts of parts from

abroad. In 2004, plants in Korea dealt with 522 foreign firms in addition to 1131 domestic
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suppliers. In addition to nine plants in its home nation, Samsung maintains 29 manufacturing

facilities[ CITATION Ant07 \p 167 \l 13321 ] in 14 countries.

On the whole, Samsung’s interaction with other regions is promoted by its initiative to

localize its production, marketing, and R&D activities, therefore speeding up the process of

extending its global reach. It does this through investing in the establishment of local facilities,

entering into joint ventures, or acquiring local enterprises.

Samsung has been and continues to be a key investor in the Chinese business and

economic landscape, particularly in the electronics industry. The regional division in China,

whose headquarters is in Beijing, oversees all Samsung operations in the People’s Republic of

China, Mongolia, and Taiwan. Most of Samsung’s billion-dollar investments go into establishing

and maintaining production facilities locally, whose workforce is composed of both the country’s

top talents and Korean expatriates. For instance, three of Samsung’s production complexes are

found in Tianjin, Suzhou, and Guangzhou. Twelve manufacturing sites are located along coastal

areas, including Huizhou, Jiangsu, Weihai, Shanghai, and Shenzhen. Other Samsung operations

include a camera plant, a shipyard, and fabrics manufacturing.

During the manufacturing process, local firms in China supply these plants with the

generic parts, while more sophisticated ones are brought in from the Hong Kong global sourcing

centre. Final products, on the other hand, are either sold locally or exported worldwide by the

five regional distribution centres in China [ CITATION HoY08 \p 231 \l 13321 ] . Each year, the total

revenue of all Samsung companies in China reaches up to the tens of billions.

Samsung Japan, on the other hand, functions more as a general trading corporation which

sells Samsung products sourced from the global production and trading network. It also serves to
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link Samsung with local partners in the Japanese market and to provide valuable information on

new business development in Japan. Samsung has also bought Lux Corporation, the leading

audio-maker in Japan. The company has also invested in research and development in this region

by building an R&D centre in Yokohama in 1997 and the Semiconductor Design Centre. In the

recent past, the company has also strived to invest in promising local ventures, such as those in

the animation industry.[ CITATION Don06 \p 121-122 \l 13321 ]

In Asia, the regional headquarters, of which the bulk of responsibilities concerns

Southeast Asia and Australia, is based in Singapore. Because Asia is Samsung’s biggest and

most dynamic market, Samsung has invested heavily in this region, particularly in terms of

localization of its production processes. The Group operates factories in India, Indonesia, and the

Philippines. However, the most ambitious of these is the Seremban Integrated Manufacturing

Complex, worth $840 million.[ CITATION Eur10 \l 13321 ] As indications of its efforts to contribute

to Malaysia’s growing economy and trust of Malaysian-made products, Samsung counts more

than 7,500 local and only a handful of Korean expatriates in its workforce in the entire country,

and more than 80% of production materials are locally sourced. About 90% of the products

manufactured by the Malaysian complex are sold in other countries and regions, such as Korea,

US, Europe, and South Asia.[ CITATION Don06 \p 114-121 \l 13321 ]

Samsung operations in the United States, Canada, Mexico, and Brazil are handled by

Samsung Americas, whose headquarters is in Ridgefield Park, New Jersey. Investments in this

region include the $1.3b billion semiconductor fabrication plant in Austin, Texas and a $213

million integrated manufacturing complex in Tijuana, Mexico. The Austin plant supplies DRAM

memories to global PC makers such as Apple, Dell, Hewlett-Packard and IBM. Moreover,

Manaus, Brazil recognizes Samsung as its first entrepreneurial investor. [ CITATION Mar06 \p 154 \l
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13321 ] The Samsung Electronica de Amazonia or SEDA, an integrated electronics production

facility, was established here, with investments amounting up to around $50 million. It remains

to be Samsung’s grip on opportunities for future expansion in South America.

The Group’s operations throughout Europe are supervised by Samsung Europe, whose

centre of operations is in Brentford, England, United Kingdom. Investments in this region were

particularly significant in the second half of the 1990s: $700 million were put in to establish the

European Research and Development Centre in London, UK and the integrated electronics

production complex in Wynyard, Teeside, UK.[ CITATION Don06 \p 111 \l 13321 ] Similar to the

production facilities in China, Samsung Wynyard Park tries to get as many materials as possible

from local suppliers in the UK market. Samsung also offers technological assistance to these

suppliers to ensure increased overall product quality. Moreover, the production complex in

Wynyard features a state-of-the-art training centre which provides special skills training and

lifelong education to Samsung employees and the local community.

Other investments in the European region include two manufacturing sites in Hungary

and Slovakia. Samsung’s position as a market leader and a leading exporter in these areas has

helped in furthering the economies of Eastern and Central Europe. In 2010, Samsung has struck

a deal to buy two major appliance plants in Poland, which can supply both Eastern and Western

Europe. Currently, Samsung Europe is in the initial phase of negotiation to build a $100 million

appliance factory in Ukraine[ CITATION Eur10 \l 13321 ], which would supply Russia.

Apart from its localization strategies, Samsung also enters into a number of strategic

alliances with other global companies. It partnered with its Japanese rival Sony to manufacture

TFT LCD panels for LCD TVs, and with Microsoft, it agreed to be the HDTV worldwide
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marketing partner for the Xbox and co-developer for new gaming technology. With IBM,

Samsung aims to develop the 65/45 nanometer logic processing technology. Samsung has also

entered into agreements to develop telecommunication products with companies such as Sprint,

Nextel, Bouygues Telecom, and Arialink. A 2007 collaboration with IBM, Standard Chartered,

Infineon, and Freescale Semiconductor aims for joint developing and manufacturing

semiconductor processes. [ CITATION Sam09 \l 13321 ]

3.) What are the strengths and weaknesses of the agent? What are the factors which

and further and hinder the agent’s ability to operate effectively and efficiently in the

local/national/global environment?

Strengths

As the largest corporation in South Korea, the Samsung Group chaebol accounts for 20%

of all national exports[ CITATION Eur10 \l 13321 ] . Because of the strength of the conglomerate as

a whole, each of its subsidiaries have increased competitive advantages, particularly in terms of

innovation and technology development. The diversified operations of the Group also enable it to

cater to a wider customer base and to diminish its risks.

As discussed previously, the company enters into many strategic alliances which allow it

to reduce spending in research and development. Linking up with other companies from other

localities also enables Samsung to speed up its marketing, especially for new businesses.

Lastly, Samsung’s growth as a global brand is due in large part to its dedication to

research and development. Every year, the Group allots at least 9% of its revenues in R&D

activities. It employs about 42,000 people in the entirety of its global R&D network, which

comprises 6 centres in Korea and 18 in other countries. [ CITATION Sam09 \l 13321 ] Samsung
 Arceo & Cuarto 8

Group’s focus on R&D facilitates innovation, which allows the company to continuously

develop new products to match ever-changing consumer preferences.

Weaknesses

Recently, Samsung has suffered from bad publicity due to a drawn-out bribery and tax

evasion case concerning Lee Kun Hee, the chairman of the Group [ CITATION Mic08 \l 13321 ]. It

has also been accused of exporting appliances at below domestic market prices, a practice

commonly referred to as “appliance dumping”, to Australasian and Western European

market[ CITATION Aus03 \l 13321 ]. Bad publicity, generating from recent events such these may

harm Samsung Group’s reputation which could hinder it from pursuing efforts to break into new

markets.

In the last three years, the company has witnessed declining trends in profit margins.

Since the 2006 financial year, the operating margin and net margin have been waning. From

10.6% in 2006, the operating margin fell down to 5.0% in 2008, indicating the company’s

inability to manage its cost structure efficiently. The net profit margin reflects this decline as

well, going down 9.2% to 4.6% within the same period. [ CITATION Eur10 \l 13321 ] Declining

profit margins of the company can have implications on its profit-making capacity and can

adversely affect consumer confidence.

In May 2009, Samsung Electronics, a subsidiary of the Group, recalled some of its

products in North America, particularly Jitterbug cell phones with model numbers SPH-a110 and

SPH-a120. The voluntary recall of 160,000 units of these phones resulted from the finding of the

US Consumer Product Safety Commission that they were unable to connect to Emergency 911 in
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a no-service area.[ CITATION Sam09 \l 13321 ] Product recalls as significant as this can likewise

result to adverse effects in consumer confidence in the group’s products.

Opportunities

In 2004, Samsung was ranked as one of the top 25 brands in the world, fast catching up to

its rival, Sony. Many factors helped Samsung skyrocket into popularity—first, the brand’s

decision to cater to a more upscale market, with its “designer” appliances and electronics line. It

began to market flat-screen televisions and ultra-thin DVD players, as well as their now

ubiquitous mobile phone products. By branching into another market for electronics, they were

able to increase their profit margins. [ CITATION Hai04 \l 1033 ]

Secondly, thanks to a massive advertising campaign—“Digit All Experience”— Samsung

was able to rise above most of its competitors as a one of the leading providers of digital

appliances. It became a market leader instead of a market follower.

Samsung has also focused its marketing and advertising ventures on promoting Samsung

as a holistic brand instead of focusing on individual product lines. This has resulted in a coherent

brand identity. Samsung also began investing heavily in its global profile, such as with the

sponsorship of the Olympic Games.

Threats

Historically, Samsung experienced trouble in 2002-05, because of the lagging price of

semiconductors, and the Korean won strengthened against the US dollar, which discouraged

Korean exporters. The company also adopted a new organizational structure, one based on

product divisions, which made consensus difficult to reach.

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Following a record low of 4% growth in 2006, Samsung began a massive company

restructuring the following year, which caused low productivity among its employees.

Samsung’s competitors, such as Nokia and Sony, also began experiencing revival mode,

experiencing higher percentages of growth and profit margins in 2007.

Samsung also experienced difficulties in trying to reconcile its “Korean identity” as a

leading brand with its “global identity”. What is known as the “Korean mentality” was defined

by the characteristics of single-mindedness, efficient execution, and the unquestioning loyalty

and therefore obedience of its employees. The “global identity”, which is held by top companies

such as Apple, Google, and Facebook seem to be more relaxed and geared towards fostering

creativity and uniqueness among their employees, concentrating on innovation rather than the

swift, cheap production Samsung has previously been known for.

As one of the top-ranking electronics companies in the market, Samsung has also fallen

victim to the financial crisis plaguing the globe, and now stand on the delicate balance of re-

structuring, or scaling down the company in order to recoup losses. In light of this, Samsung has

decided to go the route of re-imaging its whole brand.

4.) How is the agent able to realize its objectives and vision in light of these patterns of

interaction? In the multidimensional and multifaceted scope of relations, examine

the significance of the role of the agent in the environment.

In 2005, Samsung outlined a five-year plan that included major goals such as being one

of the top three brands in the world in quantity and quality by 2010, to double its 2004 sales

revenue by 2010, to have 20 number one market share products in 2010, to identify eight growth

engines for the company’s business, including their Digital Television products and printers, and
 Arceo & Cuarto 11

to pursue innovation in all six main areas of the company’s business operations, which includes

Digital Media, Semiconductor, Telecommunication Network, and LCD Digital Appliances.

Samsung’s goals for 2010 also included hitting the 1 million sales mark for its relatively low-

budget contender to the Apple iPad. The Samsung Galaxy Tab hit the 1.5 million sales mark in

November, which the company was not expecting. With regards to the increase in figures, they

are now anticipating to sell a million more before the year is out.

Politically, Samsung does not have any particular affiliation and does not support any

particular political candidate. However, given the number Samsung employs, and the loyalty of

its Korean consumers, it inevitably exerts some influence. Samsung has five core values: people,

excellence, change, integrity and co-prosperity. Samsung’s core value of “people” means that

they are committed to giving their employees the opportunities they need and deserve in order to

meet their full potential. “Excellence” refers to their commitment to develop the best products

and services they can offer to consumers. “Change” addresses Samsung’s dedication to

innovation. “Integrity” refers to their dedication to exhibit respect and transparency to consumers

and stakeholders. Finally, “Co-prosperity” refers to Samsung’s commitment to being a socially

and environmentally responsible corporate citizen in every community that houses its operations.

With regards to corporate social responsibility, Samsung has established several athletic

clubs devoted to a variety of sporting disciplines. These are the Suwon Samsung Bluewings

(Soccer), Seoul Samsung Thunders (Basketball), Samsung Electronics Field and Track, Samsung

Electronics Equestrian Team, Samsung Lions (Korean Basketball League), and Samsung

Electronics KHAN (Online gaming).

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In 1994, the Samsung Medical Center, which is composed of four hospitals: Samsung

Seoul Hospital, Kangbook Samsung Hospital, Samsung Changwon Hospital, and Samsung Life

Sciences Research Center, was established. It is the third largest teaching hospital in Korea, and

Samsung annually donates $100 million to the Center. [ CITATION Ken10 \l 1033 ]

Outside Korea, Samsung also has social projects going on all over the world. In the

United States, it sponsors the project Four Season of Hope, which supports the charities

sponsored by famous American stars of the sports golf baseball, basketball, and football. It also

sponsors the essay contest Hope for Education, which is an essay contest on the topic of the

impact of digital technology in schools.

In China, it has contributed to the construction of the Elementary School of Hope in a

poverty area, as part of the “Project Hope” program. As of 2010, Samsung is committed to

contributing to the building of 100 new schools in China. Samsung also sponsors the Samsung

Light of Love, which supplies underprivileged patients with funding for the operation to remove

cataracts.

In Southeast Asia, Samsung sponsors Samsung Hope, which is committed to constructing

Information Technology centers for juveniles in countries that include Thailand, Vietnam,

Philippines, Malaysia, and Indonesia, as well as providing computer education centers for blind

youth in underdeveloped areas.

In India, Samsung has committed itself to the construction of seven community centers in

the Indian slum of Bhubaneswar, Orissa, in order to further the education of the residents in the

field of Information Technology.

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In the United Kingdom, Samsung has contributed to a Youth Anti-Obesity program in

partnership with the European Olympic committees.

In Eastern Europe, Samsung has sponsored the Bolshoi Theatre, instituted Tolstoy

Literature Awards, sponsored the Hermitage Museum, and hosted the Saint Petersburg Running

Festival at Night.

In Africa, Samsung has entered into a joint sponsorship of youth education programs with

the International Youth Foundation, which includes supporting Information Technology

education, and funding consultation services for employment to help the youth in Kenya, Egypt,

Republic of South Africa and Nigeria plan and develop their future. In partnership with United

Nations Educational, Scientific, and Cultural Organization (UNESCO), Samsung conducts

Information Technology training programs for elementary and middle school teachers in

Ethiopia, as well as provide computers for the community center.

In Latin America, they support and maintain cancer wards and local orphanages.

[ CITATION Placeholder1 \l 1033 ]

Environmentally, Samsung is listed as 13th out of 18 leading electronics makers in

Greenpeace’s Guide to Greener Electronics. As of April 2010, all of Samsung’s phones and

media players are free from polyvinyl chloride and brominated flame retardants. Samsung also

ranked first as a Global Eco-Label company, for 2134 of its models meeting the Global Eco-

Label standards. Environmentally, they are also committed to expanding their offering of eco-

friendly products, investing in eco-friendly Research and Development and manufacturing

facilities, and building eco-management partnerships with customers and suppliers. [ CITATION

CSR10 \l 1033 ]
 Arceo & Cuarto 14

5.) What are the future prospects for the agent? What are the steps that the agent

actively undertakes to ensure that it achieves its short term/medium/term/long term

objectives?

Samsung’s vision in the coming decade is “Inspire the World, Create the Future”. By

leveraging its three key strengths— “New Technology”, “Innovative Products”, and “Creative

Solutions”, the company hopes to contribute to a brighter future for its consumers. It also hopes

to increase the value of its core networks – Industry, Partners, and Employees.

To ensure that this vision is met, Samsung has mapped out two main goals: to secure

$400 billion in revenues and to become one of the world’s top five brands in 2020. Regarding its

management, it has developed three key approaches, namely: “Creativity”, “Partnership”, and

“Talent”. [ CITATION Placeholder2 \l 1033 ]

The company is also looking forward into branching out to different enterprises,

including health, medicine and biotechnology, fields Samsung has been previously involved in

thanks to its contribution to the Samsung Medical Center.

Along with these thrusts, Samsung is also looking to increase the value of consumer

response and knowledge, in order to create and design better products for its consumers, as well

as strengthen its research and development.

Samsung puts a lot of effort into promoting innovation, be it in products, technology,

market, cost, global management, or organizational culture. [ CITATION Mic10 \l 1033 ]

In order to secure its collective competitiveness, Samsung is also looking into upgrading

its manufacturing, fostering its human resources, and acquiring new technology. It aims to train
 Arceo & Cuarto 15

functional specialists and future leaders for the company, as well as develop new processes and

improve the local development of parts and equipment, and build an infrastructure for

Information Technology.

Having observed the relaxed attitude and office etiquette of top companies such as Apple,

Google, and Facebook, Samsung recently remodeled its offices to better foster creativity and

efficiency in its workers.

Aside from branching into medical diagnostic implements and biopharmaceuticals, as

previously mentioned, Samsung is also looking to branch into manufacturing light-emitting

diodes and batteries for hybrid cars.

As mentioned earlier, Samsung’s corporate goals from five or so years ago sets its 2010

revenues at a $140 million. According to analysts, Samsung’s sales will be able to reach that

amount before the end of the year. [ CITATION Lee10 \l 1033 ] Only time will tell whether or now

they will achieve their corresponding goals for 2020.

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 Arceo & Cuarto 16

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