[New Year's Message] Huh Jin-kyu, Chairman of Iljin Group, "We Must Discover and Strengthen Future Businesses"

Heo Jin-gyu, Chairman of Iljin Group.
[Photo by Iljin Group]

[Asia Economy Reporter Kim Jong-hwa] Heo Jin-gyu, chairman of Iljin Group, stated in his New Year's address on the 4th, "This year, our group's management policy has been set as 'Discovering and Strengthening Future Businesses'." He added, "This means thoroughly preparing to seize opportunities that will come after continuous survival and crises."

Chairman Heo said, "The economic outlook for this year suggests a deepening K-shaped structure where well-performing companies will do even better, while struggling companies will face greater difficulties." He expressed concern, "If the K-shaped outlook materializes, affiliates with competitiveness in eco-friendly industries such as electric vehicles and hydrogen cars will survive, but affiliates rooted in traditional manufacturing may become victims of COVID-19 if they fail to respond appropriately to the crisis."

He continued, "The new growth engine businesses that recently led Iljin's growth will lose momentum over time, and if we fail to create new sources of revenue, we will fall behind." He emphasized, "It is a critical time for each affiliate and business division to have the insight to identify advanced technologies and innovative products that can lead the market."

He added, "We must always remember that our future depends on discovering and strengthening future businesses," and urged, "To achieve this year's management goal of 'Discovering and Strengthening Future Businesses,' let us steadily and diligently move forward step by step in the Year of the Ox."

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