KOTRA "Global Companies' COVID-19 Response Strategies: 'Safety, Social Contribution, Digital'"

[Asia Economy Reporter Suyeon Woo] KOTRA identified employee safety, social contribution, online marketing, and digital transformation as key management issues for global companies after the COVID-19 pandemic.

On the 10th, KOTRA released a report titled 'Global Companies' COVID-19 Response Cases and Post-COVID New Strategies,' analyzing industry movements after COVID-19 across five sectors: manufacturing, distribution/logistics, finance, travel/aviation, and telecommunications/infrastructure, while introducing examples of companies from various countries.

KOTRA analyzed that the biggest beneficiary of the U.S. 'contactless (untact)' consumption trend after COVID-19 is Walmart. To respond to the surge in shopping demand, Walmart raised hourly wages and provided bonuses to employees, as well as offered free telemedicine services. They also operated 'Heroes Hours,' special shopping times for seniors, people with underlying conditions, and healthcare workers, ensuring customer safety.

KOTRA emphasized that management strategies focusing on hygiene and safety of products, stores, and employees, as well as active corporate social responsibility (CSR) activities such as emergency relief, significantly impact business performance. Japanese Sony, German Siemens, Vietnamese Vingroup and Vietel, and UAE Strata also utilized their production facilities to manufacture COVID-19 prevention supplies or provide related services.

Furthermore, KOTRA stressed the need to pay attention to the strengthening market dominance of online platforms after COVID-19. In industrial fields, companies are accelerating digital transformation by adopting innovative technologies such as artificial intelligence (AI) and the Internet of Things (IoT). In response to changing market paradigms, companies worldwide are expanding their business areas into future growth sectors based on digital and eco-friendly technologies.

Japanese travel and service company JTB developed services such as remote work accommodation packages, creating new tourism culture examples aligned with the new normal era. German automaker Audi introduced digital live consulting using virtual reality (VR) devices. Audi is also enhancing digital marketing through new channels like TikTok, along with 24-hour online consultations.

Singaporean bank DBS aims to become the world's leading digital bank by establishing a dedicated digital execution organization and plans to hire 2,000 new experts in AI, cloud, and data analytics. Indian telecommunications company Reliance Jio has started developing a super app in collaboration with Facebook, enabling services across mobile payments, social media, gaming, and airline/hotel reservations.

Kwon Pyung-oh, President of KOTRA, stated, "COVID-19 has expanded online and contactless-centered corporate activities, and global competition in future advanced industries is intensifying." He emphasized, "We must pioneer new growth sectors through win-win cooperation between large and small-medium domestic companies, strategic alliances between online and offline companies, and the establishment of a cooperative ecosystem among government, businesses, and civil society."

This content was produced with the assistance of AI translation services.