“As the crisis has not completely phased out, emergency management should be kept on for one or two more years. Preparation for busy merger and acquisition (M&A) market seeking to secure overseas market and technology is needed. In order to take an initiative in green industry, the investment must be concentrated within next three and four years.”
In an effort to seek advices for South Korean companies, Maeil Business Newspaper questioned the agendas in management for next year to Rhee Byung-nam, Co-Head of The Boston Consulting Group Seoul office, Kim Yeon-hee, Partner at Bain & Company Korea, Gweon Seung-wha, CEO of Ernst & Young and Kim Hee-jip, Country Managing Director of Accenture Korea.
The first advice from the leaders in consulting industry is that emergency management must continue for next one and two years. Despite the economy regaining at fast pace, it is yet too early to put an end to emergency measures on restructuring and cost-reduction.
“As aftershocks from the crisis still linger on, closely observing the world economic condition is important,” said Gweon, Ernst & Young CEO.
South Korean companies are required to put more efforts for seeking new business areas and take more active approach to M&A market as a mean to secure market and technology.
“For sound companies, next year is a great chance to make a bid for firms in advanced economies on the verge of liquidity crisis,” the Accenture Korea CMD Kim emphasized.
“For a long-term growth of companies, M&A is crucial. However, South Korean companies, lacking expertise on M&A area, are required to make more efforts to enhance the expertise,” explained Kim from Bain & Company Korea.
South Korean companies are also encouraged to shore up its investment in green industry as renewable energy, green industry and low-carbon green growth will continue to be significant agendas next year.
[Written by Gyu-sik Kim, Jong-wook Park – Ye-sol Yi]
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