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Samsung has come up with plans to invigorate the domestic economy ahead of the Chuseok holidays later this month. Korea's largest business conglomerate said Thursday that 11 of its affiliates agreed to expedite a combined 1.4 trillion won ($1 billion) in payments to buy products from subcontractors, despite difficulties caused by the slowdown in the global IT industry, which has affected earnings at flagship affiliate Samsung Electronics.

The government will seek 300 trillion won ($229 billion) in investments from the private sector to establish the world's largest high-tech semiconductor cluster in Gyeonggi Provinc...

No business leader will underestimate the importance of gaining the trust of consumers to ensure a company's success and there is probably no disagreement when it comes to the grave financial consequences of losing the support of customers.

Samsung Electronics Chairman Lee Jae-yong has spent the past 30 days meeting with small local partner firms and global high-profile leaders, an indication of his prioritizing of mutual sustainable growth as the head of the IT giant, industry watchers said Sunday. Many say Lee visiting small partner firms even before presiding over executive meetings are emblematic of his “New Samsung” corporate vision, whereby the efforts of its long-time partners will be increasingly recognized and appreciated to boost morale.

Lee Jae-yong, who was promoted from vice chairman to chairman of Samsung Electronics, the crown jewel of Samsung Group, on Oct. 27, faces the daunting task of weathering multiple challenges, including a chip market slump, legal risks and finding new growth engines to keep the nation's largest conglomerate competitive. To this end, industry experts stressed that Lee needs to fill the chipmaker's board with directors capable of fiercely discussing the direction of the industry, while rallying mid-level executives to proactively detect rapidly-changing global trends.