Jung Mong-kyu, HDC Chairman, "Focusing on Diversifying Business Portfolio"

[Asia Economy Reporter Yoo In-ho]

Jung Mong-kyu, Chairman of HDC Group, announced regarding the New Year's management strategy, "We will focus on diversifying our business portfolio to achieve a leap as a mobility group through the acquisition of Asiana Airlines."

Chairman Jung stated at the ‘HDC Group Future Strategy Workshop’ held for two days from the 6th to the 7th at Oak Valley Resort in Wonju, Gangwon Province, to the executives of affiliated companies, "HDC Group is proceeding with the acquisition process of Asiana Airlines with the goal of rapid stabilization and integration to leap forward as a mobility group."

The workshop was attended by about 30 people, including Chairman Jung, Kim Dae-cheol, Vice Chairman of HDC Hyundai Development Company, Yoo Byung-kyu, President of HDC, Kwon Soon-ho, President of HDC Hyundai Development Company, and CEOs and CFOs of 13 affiliated companies, as well as Lee Hyung-gi, Head of Asiana Airlines Future Innovation Preparation Team.

At the event, Chairman Jung emphasized, "With the expansion of the group’s scope, it is necessary to expand communication and cooperation among affiliates in aviation, transportation, logistics infrastructure, hotels, resorts, power, and energy," adding, "We must focus on securing differentiated competitiveness."

He continued, "Unfamiliar paths are always strange, but if we train ourselves to find new paths with a new perspective, even the most difficult problems can be sufficiently solved," and urged, "Although there are various uncertainties such as the US-Iran issues in the New Year, if we proceed with confidence, we will be able to do well."

The reason Chairman Jung held the future strategy workshop for executives from the beginning of the year is interpreted as the urgent need for in-depth discussions on the New Year’s business strategies of each company and ways to create synergy with Asiana Airlines, which is the group’s future growth engine.

On the first day of the workshop, Lee Hyung-gi presented key issues regarding the progress of the Asiana Airlines acquisition. Following this, each CEO expressed opinions on enhancing corporate value according to changes in the group’s portfolio and sought cooperation plans among affiliates.

On the following day, discussions continued on the core issues for each HDC Group affiliate in 2020, securing financial soundness, and cooperation and survival strategies to strengthen each affiliate’s own competitiveness.

A senior HDC official said, "The executives agreed at this workshop that the acquisition of Asiana Airlines is a once-in-a-lifetime turning point for HDC Group," adding, "We decided to focus on creating synergy among group affiliates, diversify the business portfolio, and proactively discover new value-added creation points."

This content was produced with the assistance of AI translation services.