Huh Jin-kyu, Chairman of Iljin Group, "This Year's Management Policy: Accelerating Growth Through Bold Investment"
Announced Through the 2022 New Year's Address
[Asia Economy Reporter Kim Cheolhyun] Heo Jin-gyu, chairman of Iljin Group, has set this year's management policy as "accelerating growth through bold investment." In his New Year's address on the 3rd, Chairman Heo stated, "If last year laid the groundwork for new growth, this year requires company-wide efforts and collaboration to ensure that new businesses can reach a stable trajectory."
Last year, Iljin established the management policy of "discovering and strengthening future businesses." As a result, achievements were made in the two major pillars of eco-friendly vehicles, electric vehicles and hydrogen vehicles, as well as in the bio business. Iljin Materials attracted investment funds to expand beyond Malaysia into Europe and the United States, and Iljin High Solus succeeded in its initial public offering (IPO), which is regarded as laying the foundation for the future hydrogen economy. Additionally, the lupus nephritis treatment invested in by Iljin S&T has been commercialized.
Chairman Heo emphasized, "Existing businesses must also be thoroughly reexamined to focus on selection and concentration, and if necessary, bold strategic investments such as M&A should be pursued simultaneously," adding, "In particular, all affiliates must establish virtuous cycle elements for company growth such as securing funds, technology development, and patents to maximize corporate value." To this end, Chairman Heo urged employees to be armed with business plans and goal achievement, as well as a spirit of challenge and creativity.
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Chairman Heo also said, "Each affiliate should have a flexible and open system to nurture challenging and creative talents," and added, "It is essential to have channels for communication and collaboration that can develop and commercialize fresh ideas."
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