By Kim Yoo-chul
SK Networks, South Korea’s leading trading company, said Wednesday it is aiming to reap 28 trillion won or some $24 billion in annual sales by 2012 from the current 21 trillion won.
Lee Chang-kyu, a chief executive at SK, said the SK Group’s trading arm has just named the following six _ iron ore, coal, auto, fashion, real estate and wine _ as the future earnings drivers.
``Corporate values will also be raised to 6 trillion won from 2.6 trillion won during the same period,’’ according to the top executive.
Referring to the higher demand for raw materials in emerging markets, faster adaptation to automobiles, growth in consumer markets, urbanization and the aging society, Lee said SK Networks will respond to such industrial trends by implementing target and customized-based strategies.
SK Networks has been on track to expand its business portfolio to raw materials, automotive services and retail goods. It is focusing on consolidating its position in those sectors especially in China and further penetrating into Indonesia, Vietnam and other emerging markets.
SK Networks posted 79.7 billion won in a net profit during the second quarter, while the quarterly sales rose 12.4 percent to 11.4 trillion won from a year earlier.
Shares of SK Networks were down by 0.93 percent to end at 10,600 won on the nation’s main bourse, the bourse operator Korea Exchange (KRX) said.