SEOUL, South Korea – Chiefs of Samsung Electronics and Hyundai Motor say their businesses face increased uncertainties due to growing protectionism.
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Samsung Vice Chair Kwon Oh-hyun urged employees in a new year's speech Monday to reform the company by strengthening quality control as growth slows in its key markets and trade protectionism increases uncertainties in the economy and politics.
Samsung is expected to announce this month the findings of its investigation into the Galaxy Note 7 that caught fire and overheated, prompting two global recalls and its discontinuation last year.
Hyundai Motor Chair Chung Mong-koo said that South Korea's largest automotive group aims to sell 8.25 million vehicles this year. Hyundai Motor and its sister Kia Motors missed their sales target in 2016, selling 7.88 million cars.