April 30, 2024

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LG Group Chairman Koo Kwang-mo delivers a New Year’s address for 2022 virtually on Dec. 20. LG Group

An increasing number of South Korean companies are moving their 2022 kickoff meetings online or replacing them by releasing the CEO’s message virtually, adapting to the continued coronavirus pandemic.

Before the pandemic, local conglomerates typically held year-end or kickoff meetings by gathering executive members at a large auditorium, with the CEO presenting the company’s new vision for the coming year.

But with strengthened social distancing rules and work culture transformations spearheaded by young CEOs, companies are minimizing their year-end or kickoff meetings.

According to Samsung Electronics, the company and its affiliates will not hold separate year-end meetings this year. Instead, they will air kickoff meetings online next week. Only a select number of executives will attend the meeting.

Samsung has not held a year-end meeting since 2014, when former Samsung Electronics Chairman Lee Kun-hee collapsed due to a heart attack.

Since Samsung Electronics Vice Chairman Han Jong-hee will be at the Consumer Electronics Show 2022 slated for Jan. 5 to 8 in the US, the CEO’s message will most likely be delivered by President Kyung Kye-hyun.

Hyundai Motor Group’s kickoff meeting will take place in the metaverse.

Hyundai Motor Group Chairman Chung Euisun has reportedly ordered the use of a metaverse platform for non-face-to-face kickoff meetings amid the continued pandemic.

Industry sources said that Hyundai Motor did a test-drive of its performance sedan Sonata N-line via the metaverse platform Zepeto, an industry first. Therefore, the company’s interest in metaverse platforms may impact the way its employees work in the future, the sources added.

Earlier this year, Chung Euisun delivered a New Year’s address virtually. He stressed that the coming year would be one of great transformation with a new growth engine.

Meanwhile, some companies are getting rid of both year-end and kickoff meetings.

SK Group, which did not hold a kickoff meeting this year, said its 2022 kickoff will be replaced with SK Group Chairman Chey Tae-won sending a New Year’s address to employees via email.

Instead of holding year-end and kickoff meetings, LG Group has been encouraging its employees to spend their annual leaves in the last week of December.

Since LG Group Chairman Koo Kwang-mo took office in 2018, the group has scrapped year-end meetings. Last year, the group also substituted its kickoff meeting with a recorded New Year’s address from the CEO. Koo gave a recorded New Year’s address once again for 2022 on Dec. 20.

By Kim Da-sol (ddd@heraldcorp.com)