Government should create favorable environment for doing business
Samsung Display said Thursday that it would invest 13.1 trillion won ($10.9 billion) into the next-generation display business by 2025. The Samsung Electronics subsidiary aims to maintain technological competitiveness by converting part of its massive liquid crystal display (LCD) lines into state-of-the-art quantum dot (QD) display-manufacturing lines and create 81,000 jobs in the process.
Samsung's bold investment will likely set an excellent example for other businesses that are avoiding capital spending amid a prolonged business slump. It might have been difficult for Samsung to decide on the massive investment, given the business environment has been going downhill at home and abroad, hit by an export slump and sluggish domestic consumption. Samsung's efforts to secure superior positions in future markets through pre-emptive investment deserve support on a national level.
President Moon Jae-in made his third appearance at a Samsung factory on the day, following a visit to Samsung Electronics' new plant in India in July last year, and one to a factory in Hwaseong, south of Seoul, in April. The chief executive's repeated visits drew particular attention in part because Samsung is the nation's largest company and because its de factor leader, Lee Jae-yong, is on trial for his alleged role in the corruption scandal that ousted former President Park Geun-hye.
Businesses have always been central players in the national economy, and the government needs to help them compete with foreign counterparts in global markets. True, the government needs to uncover corporate irregularities and rectify them to create an environment for fair competition. It is not desirable, however, for bureaucrats and executives to regard each other as targets of regulation and inconvenient interveners.
Moon's visits to large businesses and encouragement of their executives have little to do with the ongoing litigations. Nor should there be any relationship between the two issues. The government ought to provide various supports to help businesses regain their vigor, while the companies should bear in mind that the best way they can contribute to the nation and the public is through growth.
Samsung Display said Thursday that it would invest 13.1 trillion won ($10.9 billion) into the next-generation display business by 2025. The Samsung Electronics subsidiary aims to maintain technological competitiveness by converting part of its massive liquid crystal display (LCD) lines into state-of-the-art quantum dot (QD) display-manufacturing lines and create 81,000 jobs in the process.
Samsung's bold investment will likely set an excellent example for other businesses that are avoiding capital spending amid a prolonged business slump. It might have been difficult for Samsung to decide on the massive investment, given the business environment has been going downhill at home and abroad, hit by an export slump and sluggish domestic consumption. Samsung's efforts to secure superior positions in future markets through pre-emptive investment deserve support on a national level.
President Moon Jae-in made his third appearance at a Samsung factory on the day, following a visit to Samsung Electronics' new plant in India in July last year, and one to a factory in Hwaseong, south of Seoul, in April. The chief executive's repeated visits drew particular attention in part because Samsung is the nation's largest company and because its de factor leader, Lee Jae-yong, is on trial for his alleged role in the corruption scandal that ousted former President Park Geun-hye.
Businesses have always been central players in the national economy, and the government needs to help them compete with foreign counterparts in global markets. True, the government needs to uncover corporate irregularities and rectify them to create an environment for fair competition. It is not desirable, however, for bureaucrats and executives to regard each other as targets of regulation and inconvenient interveners.
Moon's visits to large businesses and encouragement of their executives have little to do with the ongoing litigations. Nor should there be any relationship between the two issues. The government ought to provide various supports to help businesses regain their vigor, while the companies should bear in mind that the best way they can contribute to the nation and the public is through growth.
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