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From the CEO

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CHUNG Ki Young
Dear Readers:

In an era of low growth, the competitive landscape surrounding global industries is undergoing transition. Northeast Asia, in particular, is witnessing accelerated restructuring of its major industries. Among others, mobile phones, autos, chips and petrochemicals are under increasing pressure to speed up transformation as low growth becomes entrenched. The strengthening of environmental regulations and industrial policies in various countries are also spurring restructuring. In the midst of this transition, new competitors are rising and a new paradigm of competition is emerging through the blurring of business barriers.

Against this backdrop, this issue of SERI Quarterly analyzes the current structural changes in Asia's key industries. A close look is given at the rapid rise of China's smartphone makers, as well as a change in the semiconductor industry's strategic focus from PCs to mobile devices. We also take an in-depth look at the future of Japanese auto makers, and their shift to emerging markets, plus the challenges and threats facing Korea's petrochemical industry.

Elsewhere in this edition, we interviewed Kenn Allen, of the Civil Society Consulting Group, who provides us with his insights on the worldwide trend toward corporate social responsibility (CSR). Further business and economy coverage in this issue includes discussions on climate change risks, tips on social contribution for businesses going overseas, and analysis on China's new consumer generation.

Of course, SERI Quarterly is especially dedicated to bringing you the latest in analysis and expertise on the ongoing North Korea situation. In this issue, we have discussions on the rise of merchants in North Korea, reviews of North Korea's recent economic reforms and nuclear developments, and an outlook for China-North Korea relations.

The effects of the current transition in Northeast Asia, whether on the economic level or on the military security level, are sure to be felt for years to come. As the region evolves, SERI Quarterly will be there to bring you the best in analysis and insight of this vital and rapidly changing region.

Thank you for your interest and support.

Sincerely

CHUNG Ki YoungCHUNG Ki Young