Business Leaders Opt for 'Untact Management' Domestically This Chuseok

[Asia Economy Reporters Sohyeon Park, Hyesun Lim] Every year during the holiday season, the heads of major business groups who have continued global management by meeting overseas clients are expected to stay in Korea this Chuseok and spend busy schedules with 'non-face-to-face (untact)' management approaches. This is because the business environment is harsher than ever due to numerous domestic and international management variables such as the COVID-19 pandemic and the three major corporate regulation laws.

According to the business community on the 29th, this Chuseok, major group heads such as Vice Chairman Lee Jae-yong of Samsung Electronics, Executive Vice Chairman Chung Eui-sun of Hyundai Motor Group, Chairman Chey Tae-won of SK Group, and Chairman Koo Kwang-mo of LG Group are known to be staying in Korea, focusing on post-COVID-19 management plans. Chairman Shin Dong-bin of Lotte Group is currently staying in Japan and is expected to spend the Chuseok holiday in Japan unless any special circumstances arise.

Since 2014, Vice Chairman Lee has pursued global activities every holiday, planning Samsung’s future growth engines. Last Lunar New Year, he visited Samsung Electronics’ Manaus plant located in Amazonas state in northern Brazil to inspect the production line. During last year’s Lunar New Year, he visited Samsung Electronics’ semiconductor plant in Xi’an, China, to check the construction site of the second semiconductor line, and during Chuseok, he flew to Saudi Arabia to encourage employees at the Riyadh Metro project site being constructed by Samsung C&T. However, this Chuseok, with travel restricted due to COVID-19, he is expected to stay in Korea without special plans and communicate with executives untactly while contemplating post-pandemic management strategies. Recently, Vice Chairman Lee has been engaging in guerrilla-style communication only when necessary rather than holding regular meetings with key executives. A senior Samsung Group official said, “Due to social distancing measures amid COVID-19, communication with the Vice Chairman is limited to essential work-related matters only.”

Chairman Chey, who has met overseas buyers during holiday breaks, is also expected to spend an untact Chuseok this year. An SK Group official said, “There have been quite a few official and unofficial business trips during holiday breaks, but this year, due to COVID-19, it seems difficult to travel overseas for work.” Instead, Chairman Chey plans to continue communication with major overseas clients and expatriates via video calls. Recently, he met with expatriates and their families in the U.S., China, and Singapore through video calls, listening to their difficulties living abroad and discussing the meaning of family and happiness. Chairman Chey plans to hold the annual CEO seminar, which has been conducted in Jeju Island, in an untact format in the third week of October this year.

Chairman Shin, currently staying in Japan, is also expected to spend the Chuseok holiday there. Having experienced self-quarantine and telecommuting, Chairman Shin is now conducting 'remote management' by chairing weekly meetings via video calls locally in Japan, going beyond 'work-from-home' management. A Lotte Group official said, “Although the chairman’s exact whereabouts are not widely known, it is certain that his mindset has changed to one where location is not important, following experiences such as telecommuting due to COVID-19.”

Chairman Koo is also emphasizing 'autonomous management' by the presidents of each affiliate and is reported to have no special plans during the Chuseok holiday, choosing to spend time with family. Prior to the holiday, on the 22nd of this month, Chairman Koo conducted an online LG Group presidents’ workshop.

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