Lee Kun-hee, chairman of Samsung Electronics, on Friday issued words of thanks to Samsung employees to mark the 20th anniversary of his “New Management Initiative,” and also reminded them it was time to take Samsung to the next level.

“We have steadfastly walked this path with the vision of becoming the world’s best company, and now, your passion and dedication has put us at the global pinnacle,” Lee said in his message. 

“But if the past 20 years were spent achieving the great formation from quantity to quality, the coming years will be a period for Samsung to raise the value and class of the products, services and business in general,” he said.

Lee also extended his gratitude to the people of Korea who had not wavered in their love and encouragement for Samsung, which had achieved the dream of becoming the world’s top consumer electronics company.

Two decades ago in June, Lee issued the “New Management Initiative” after witnessing, to his shock, how unwelcome and uncompetitive Samsung products were globally.

Otherwise known as the “Frankfurt Declaration” ― Lee embarked on the new management strategy during an emergency meeting with his executives in Germany ― the initiative became widely famous for having transformed Samsung to what it is today.

“Amidst the massive turbulence of change at the advent of the 21st century, I had no choice but make the resolution to change myself and everything else but my wife and children,” Lee said.

Stressing it was time now for facing and tackling new challenges, he predicted that the fight for Samsung was against being in the No. 1 position and the sense of conceit that came with it.

Samsung held a three-day workshop for employees to commemorate the anniversary and held an exhibition in Suwon to showcase Samsung before and after the New Management Initiative.

By Kim Ji-hyun (jemmie@heraldcorp.com)