Heo Jin-gyu, Chairman of Iljin Group, "This Year's Management Policy is Quantitative Expansion"

Huh Jin-kyu, Chairman of Iljin Group. Photo by Iljin Group

[Asia Economy Reporter Moon Hyewon] Heo Jin-gyu, chairman of Iljin Group, urged achieving solid growth accompanied by increased sales and significant profits through 'quantitative expansion.'

In his New Year's address on the 2nd, Chairman Heo stated, "This year, the domestic and international business environment will not be easy, and the economic outlook is very uncertain, but we must respond to the crisis with clear goals and take a step forward," revealing this management policy.

To put this into practice, Chairman Heo emphasized the need for four things: ▲ sales increase ▲ creation of mid- to long-term growth engines ▲ competition ▲ and a new Iljin culture.

Chairman Heo said, "If sales increase significantly, profits will also grow," adding, "With abundant funds, we must develop excellent technology and first-class products to secure the market, completing a virtuous cycle structure that enables the company to sustain growth."

He stressed, "To survive fierce competition in the 4th industrial revolution, we must create new markets with 'innovative' technology and 'new products,'" and added, "Employees must closely monitor technological changes and lead the market with new products to achieve a quantum jump this year."

He continued, "Individuals and organizations can only develop through competition," and said, "If there is no competition within the organization, find it outside; if it cannot be found outside, create a virtual competitor in your mind."

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