Hanju Chemical & Holdings "Establishing PM and Commerce Businesses... Aiming for Profitability Within the Year"

[Asia Economy Reporter Jang Hyowon] Hanju Chemical & Holdings announced on the 15th that it is accelerating efforts to achieve operating profit profitability within the year.

Hanju Chemical & Holdings, which primarily operates in pharmaceutical raw materials and other businesses, saw HanChang, a KOSPI-listed company, secure the position of largest shareholder through a third-party allotment paid-in capital increase in July.

Hanju Chemical & Holdings stated that it quickly stabilized its existing business and, in October, acquired a 40% stake in Hanju Chemical Co., Ltd., the leading domestic gas fire extinguishing equipment company preparing for an IPO from HanChang, thereby laying the foundation to expect profits through its shareholding.

Direct improvement in operating performance through new businesses is also anticipated. The company established a new division for total management (PM) of real estate development projects and has been conducting aggressive sales from the early stages, with early results reportedly emerging.

Following the announcement on the 12th of a PM contract worth 900 million KRW for an apartment project in Jihaeng-dong, Dongducheon, Gyeonggi Province, Hanju Chemical & Holdings announced that it has secured a PM contract worth 1.4 billion KRW for a redevelopment project located in Sokcho, Gangwon Province.

The PM business requires comprehensive expertise, personnel, and experience throughout the entire process from permits to completion to successfully conclude redevelopment and reconstruction projects. It is explained that early results are appearing through collaboration with the parent company HanChang.

The online commerce division utilizing new media and advanced distribution infrastructure has also joined the new business lineup. It is known that a three-party collaboration is being promoted between famous domestic and international influencers and leading domestic clothing and cosmetics brands.

A representative of Hanju Chemical & Holdings said, “The goal of the new management system in 2021 is primarily focused on groundbreaking improvement in operating performance and turnaround, and effective human and material investments related to this are being actively carried out,” adding, “All executives and employees are working with extraordinary determination to break away from the deficit structure of the past three years and achieve the goal of operating profit profitability.”

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