From left are Samsung Electronics Vice Chairman Han Jong-hee, Samsung Electronics CEO Kyung Kye-hyun and LG Electronics CEO Cho Joo-wan.

Samsung Electronics and LG Electronics are set to discuss business strategies for the coming year in meetings with heads of each business unit and executives, following the completion of end-of-year reshuffles and organizational restructuring, according to the companies, Thursday.

At a time when the industry view is that demand for electronic products will not significantly improve next year, the two leading IT companies here are expected to establish business strategies to cope with this overall slowdown in demand through their biannual strategy meetings.

Starting from Thursday, Samsung Electronics will conduct global strategy meetings, presided over by Han Jong-hee vice chairman and CEO of the Device eXperience division, who supervises its mobile and home appliance business, and Kyung Kye-hyun, CEO of the Device Solutions (DS) division who oversees Samsung's semiconductor business.

Samsung's global strategy meeting, which takes place twice a year — in June and December — is a gathering where executives from home and abroad meet to share current issues by business unit and region and exchange opinions on next year's business goals and sales strategies. Over 300 executives from home and abroad are expected to join both online and offline.

This year's meeting will start by looking across the entire organization first, then the mobile experience business, followed by the video display and home appliance businesses. Executive Chairman Lee Jae-yong will not attend the meeting personally and will receive a report later.

The meeting is expected to discuss concrete business strategies and measures to enhance future competitiveness for future growth. Samsung recently established the Future Business Planning unit and appointed former Samsung SDI Vice Chairman Jun Young-hyun as the vice chairman and unit head of this new unit.

“As the global business environment will continue to be unfavorable next year, Samsung is expected to seek solutions to lead future growth while strengthening its business competitiveness during the meeting,” an industry official said on condition of anonymity.

LG Electronics is also holding a company-wide management meeting at LG Digital Park in Pyeongtaek, Gyeonggi Province on Friday.

Led by CEO Cho Joo-wan, this biannual strategy meeting is a forum to review LG's domestic and overseas business statuses and business strategies.

About 300 executives, including the management of LG Electronics and representatives of overseas branches, are expected to attend the management strategy meeting.

"A consensus on next year's business strategies, key implementation measures and goals will be discussed at this expanded management meeting," a spokesman for LG said.

CEO Cho had previously stated that the company will continue to strengthen its business in areas such as automotive electronics and other business-to-business sectors this year.