South Korean conglomerates have held New Year ceremonies to launch their business plans for the year.

In a meeting on Tuesday, Samsung Electronics president Kim Ki-nam urged the company’s executives and employees to build on the successes of last year and aim for change, innovation and challenge.

In a public notice on Tuesday, Hyundai Motor and its affiliate Kia Motors set a global sales target of seven-point-55 million cars this year. Hyundai Motor Group Chairman Chung Mong-koo said the group needs to quickly respond to trade protectionism around the world and strive to lead the global auto industry.

LG Electronics Vice Chairman Koo Bon-joon called on LG executives and employees to think outside the box, ordering them to overhaul the company’s research and development activities and enhance its manufacturing capacity.

The chairmen of GS Group and Hanwha Group both called for the enhanced competitiveness of their respective business groups.