Samsung Phils. head forecasts 40% growth in 2011

MANILA, Philippines - Kyung Chull Park, president and chief executive officer of Samsung Electronics Philippines Corp., fresh from attending the Samsung Electronics’ Global Business Conference in Seoul, South Korea, is confident that SEPCaO will reach $500 million in revenues for 2011, representing a 40 percent growth.

SEPCO, one of the three local subsidiaries of Samsung Electronics, is engaged in the marketing and distribution of consumer electronics and leads the market in innovations.

New product breakthroughs include the first 3D LED television, the Galaxy Tab, and the French door refrigerator.

“I am happy to be back as Samsung has a lot of exciting plans for the Philippines in 2011. We are expanding our branch network to include not just consumer electronics but IT products and mobile phones as well,” said Park.

Park returned to the Philippines last Dec. 19 after being allowed by the Department of Justice to travel to South Korea from Dec. 12 to 19 for official business because he is not a flight risk.

This, following a hold departure order stemming from a complaint made by manpower agency Temps & Staffers Inc. (TSI) headed by Vivian Anastacio-Guerrero.

“I am closely working with our legal team to address the issue so we can focus on our work,” Park said. “To meet the projected growth, we also plan to increase our employee base by 20 percent.”

Samsung Electronics is committed to acting as a responsible corporate citizen in the Philippines. It conducts its operations in accordance with international labor standards and maintains a rigorous compliance program.