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[New Year's Statement] Chairman Kim "Keep developing our strengths·potentials"



[Jungwoo Moon, Moneytoday Network MTN] During the New Year’s statement, Sukjun Kim, the Chairman of Ssangyong Engineering &Construction (PICTURE) said that "we need to keep developing our strengths and potentials that made us a trusted company both domestically and internationally".



Chairman Kim, said that "we made a turnaround, re-establishing operating profits and ordinary profits, only after 2 years from we finished our workout program, with organic cooperation between the main office, overseas branches, and hard-working on both domestic and overseas field sites", praising the hard work of the executives and staffs.



Chairman Kim also said, "The construction industry is still facing difficulties. It is said that the economic outlook is also not bright this year, and the housing market, maintained by construction industry, will also be in crisis next year. "We need to firmly establish the company's foundation by establishing orders, profits, and safety, and speed up the preparation to get ready for the future."



Ssangyong E&C, which will celebrate its 40th anniversary this year, aims to △grow capacity to respond quickly to changes in the market △expand business scope and continuously improve sales force △enhance transparency in cost management as this year's goal.



Chairman Kim, raising his voice, said, "The domestic and overseas construction market environment is constantly changing, and the market demand is becoming more complex and diverse.", and "In order for the company to survive and grow in such a trend, we must clearly demonstrate our competitiveness in the market, by anticipate and prepare for the changes."



"To continually maintain our business and generate high profit, in addition simple construction, we need matured participation in areas such as value engineering (VE), deepening of technology development, and advance contract (ECI), and moreover, in business planning, design, licensing And Coordination to expand our business throughout domestically and internationally.” he also said.



In addition, he added, "We need to push forward the settlement of three hubs, in Korea, Singapore and Dubai."



He added, "We are continuously enhancing our financial stability, including zero borrowing and interest payments, and complete resolution of contingent liabilities, after the restructuring process," adding, "Everyone should join in creating an environment to make the functions to protect the company's transparency and soundness rooted in the organization, and work autonomously within."