01.2025 Cover Story
2024 Far Eastern Group Affiliated Enterprise Annual Strategy Meeting
Far Eastern Magazine / Editorial Room



The Far Eastern Group Annual Strategy Meeting kicked off with a grand performance by the Kaohsiung City Wind Band, encouraging the attending executives to identify opportunities and move forward steadily in the changing situation. A book titled "McKinsey teaches companies how to use AI" was also presented as a gift, hoping that everyone can use digital transformation and AI technology to create intelligent competitive advantages.
Subsequently, under the leadership of Douglas Hsu, we will lead everyone to look ahead to the economic situation, review the group's operating results in 2024, and explore how enterprises can seize key opportunities and win future challenges in response to changes and challenges in the business environment.

Further observation of the Asian region: Chinese Mainland is facing geopolitical tensions and strict internal regulatory measures, with a large number of foreign capital withdrawn, domestic demand and the housing market not improving, and economic growth is slow; Japan ends its 17 year negative interest rate policy, but the depreciation of the yen affects import costs and consumption power, leading to a slowdown in economic growth; ASEAN benefits from global supply chain restructuring, attracts foreign investment, and maintains stable economic growth momentum through its advantages in labor and free trade; Taiwan, driven by the global economic and trade recovery and semiconductor demand, has seen its exports turn from negative to positive and investment gradually recover. However, due to uncertain factors such as interest rate hikes and inflation, the growth performance of private consumption and retail continues to slow down.
Despite relatively stable global economic performance this year, the overall revenue, pre tax profit and loss, and total assets of the group have all grown. However, looking ahead to 2025, the global economic outlook remains fragile, with risks continuing to revolve around the four main axes of economy, environment, geopolitics, and digital technology. Among them, climate change is intensifying, and well-known brands are expanding their carbon reduction requirements from themselves to suppliers; The urgent need for AI transformation among global enterprises has stimulated the exponential growth of AI trends; Under the threat of geopolitical risks, multiple high-tech industries have to accelerate their planning and expansion of their global layout. Douglas Hsu reminds everyone to grasp the above trends and respond steadily. For this purpose, the conference specially arranged for the heads of each core business unit of the group to report on future development strategies and specific plans for building sustainable competitiveness of the enterprise, in order to facilitate communication and learning among the attending supervisors.
Firstly, Johnny Shih, Vice Chairman of Far Eastern New Century Corporation, examines the global political and economic situation from a macro perspective. Due to the slowdown in global GDP growth, major economies are facing multiple internal and external pressures. The competition among the core regions of global GDP, namely the United States, Europe, China, Japan, and India, is deeply influenced by geopolitical and economic challenges, leading to a general decline in global economic growth. The management team of Far Eastern New Century Corporation plans a sustainability development strategy that combines new technologies and industry synergies to drive the future through innovation. Polyester Business's acting President, Fan Qinzhi, joined hands with Vice President Huang Quanyi and Senior Vice President Luo Yiwen to take over the company's leadership position in the industry and its outstanding performance in sustainability.
Asia Cement Corporation is led by K. Y. Lee President, Zhang Zhipeng General Plant Manager (Senior Executive Vice President), Ya Tung Ready Mixed Concrete Corporation, and Kim Chong ren President Chiahui Power Corporation President Chen Guangtai shares how the group's cement, pre mixed, and power businesses are innovating and transforming, laying out a low-carbon future. Zhang Zhenkun, CEO of Asia Cement Corporation (China), conducted an in-depth analysis of the challenges and opportunities faced by the industry from the perspective of the cement industry environment in mainland China. Oriental Union Chemical Corporation Justin H.C.Tsai President Develop three major operational strategies: product innovation, low-carbon energy, and new generation development, leading the company to transform into a green technology materials and chemical company. U-Ming Marine Transport was introduced by Vice Chairman Xu Guoan and Chief Operating Officer Li Xirong on how to leverage digital technology to enhance operational capabilities and expand the transportation industry.
In terms of the service industry, Far EasTone Telecommunications Chee Ching President presented the transformation achievements of expanding from the traditional telecommunications industry to the new economy over the past six years under the theme of "Far EasTone Telecommunications Big Data+AI+IoT Continuous Transformation". Nancy Hsu, President of Far Eastern Department Stores, led Manager Chen Cihui, Manager Xu Junming, and Manager Lai Xianzhu to share Far Eastern Department Stores' strategies for winning the future from the perspectives of innovation, digitalization, and net zero. FE SOGO Department stores are led by Sophia C.W. Huang Chairman, along with Vice President Li Aijia and Senior Vice President Chen Yunlong, to reveal the company's innovative transformation path and how to leverage social impact through sustainable actions. Thomas Chou, President of Far Eastern Group Bank, leads the AI digital finance business group. Dai Songzhi, Vice President, and Liu Zihao, Senior Vice President, introduce how Far Eastern International Bank is moving towards the goal of becoming a leader in banking services on the Web3.0 track.
The public welfare organizations of the group also continue to innovate, President Liao Qingrong of Yuan Ze University shared that the university has accumulated rich honors in the field of sustainability, and the 2024 World University Influence Ranking has also made significant progress. Vice President Xu Zezhi took over and explained that the university will focus on local care and industrial chain connection in the future, cultivating future sustainable talents. President Huang Maoquan of Asia Eastern University of Science and Technology elaborated on the school's sustainability development and digital transformation from the perspectives of talent cultivation and digital applications. Dr. Chiu, Dean Kuanming of Far Eastern Memorial Hospital, proposed a solution centered on technological innovation and process optimization to meet the challenge of human resource shortage and create an efficient health service system.



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