(Nikkei BP Group)
(No.1 High-Tech News Site in Japanese)
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| Samsung Group Eyes Internet Business to Boost Sales
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January 19, 1999 (SEOUL) -- Samsung Group Chairman Lee Kun-hee expects
that the Internet will comprise a lucrative business venue.
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"The Internet business has become Lee's top priority," a Samsung group
official said. "In the next two or three years, Samsung will enable
all its subsidiaries to sell their products via the Internet."
The group's financial service businesses, including Samsung
Life Insurance Co., Ltd. and Samsung
Securities Co., Ltd. (both in Korean) already conduct transactions
on the information superhighway.
Samsung Life Insurance said it hopes to see more than 1,000 Internet
transactions this year, from 220 a year earlier, while the securities
unit said it is in the process of activating Internet usage.
"Since July 1997, consumer electronics products have been selling quickly
on the Internet," said Oh Hye-hwan, an official at Samsung Electronics
Co., Ltd.
He said that the company is planning to unveil Internet settlement systems
within this year.
Samsung SDS Co., Ltd. has been working as a system provider for affiliated
companies.
(Maeil Business Newspaper, Korea)
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