Samsung, Hyundai Tell Workers to Brace for Economic Uncertainty
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Samsung Electronics Co. and Hyundai Motor Co., South Korea’s largest companies, told employees to brace for intense competition in a weak global economy as the government called for contingency planning.
“South Korea’s economy is facing increased uncertainties this year, and the global economy may rapidly deteriorate if the European debt crisis worsens,” Finance Minister Bahk Jae Wan said in a New Year statement released today. “Contingency plans to prevent contagion from Europe’s crisis should be strengthened.”