Doosan aims to create new markets

By Kim Yoo-chul

Park Yong-maan Doosan chairman

Doosan Group Chairman Park Yong-maan said Tuesday that he will strive to turn the conglomerate into a market creator in all of its business segments to survive the low growth era.

In his New Year address, Park said that he will take the initiative in the group’s drive to be a market leader by focusing on investment in core and patented technologies.

``In today’s low-growth environment, we have a lot of things to do. We shouldn’t be satisfied with catching up with top-tier firms. We should start implementing action plans to surpass them’’ Park was quoted as saying in a statement.

The chairman ordered the group’s affiliates to identify ``star projects’’ according to divisions and affiliates and explained that the plan was aimed at strengthening competiveness.

Park has spearheaded the group’s globalization effort and said that the nation’s oldest conglomerate needs to save on costs and increase management efficiency amid the fluctuating business situation.

``But that doesn’t mean you need to be defensive. I’ve talked about the way we work. We should revolutionize the group’s identity, drop our outdated image and replace it with a vibrant world-class process,’’ said the chairman.

According to Park, the group is set to see robust growth both in terms of quality and quantity this year as he believes its main affiliates are receiving more business orders from strategic and emerging markets.

The group plans to release this year’s fixed business plans late this month. Last year, it created 27.7 trillion won in revenue with an operating profit of 2.2 trillion won.

Doosan engages in a myriad of industries including trade, packaging, construction and publishing. Doosan Heavy, Doosan Engineering and Construction (E&C) and Doosan Infracore make up the group’s key affiliates.