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15 January 2010 - 11:01pm

Chung Joon-yang, CEO of POSCO (the Pohang Iron and Steel Company) held the 2010 POSCO Family Kick-off Meeting on January 4, 2010 and delivered a New Year’s speech. He chose a different yet innovative approach in delivering his New Year’s message. Instead of reading lines off a script, he presented the company’s New Year’s plans using power point slides. The kick-off meeting was aired in Gwangyang Innovation Center and Seoul POSCO Center where 200 executives and employees as well as representatives from invested companies, outsourcing companies, and suppliers took part. All employees...

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15 January 2010 - 10:57pm

Koo Bon-moo, Chairman of LG Group stressed the importance of new technology leading to innovative change in his New Year’s address at the 2010 LG Group’s New Year Meeting held at LG Twin Towers on the January 4. He presented innovation and change as the foremost driving engines for management of LG in 2010.

“The global financial crisis has hit and weakened the world’s economy and it does not seem like the global economy will recover anytime soon. To make things worse, both domestic and international consumer markets, both directly related to our business, are forecasted to suffer...

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15 January 2010 - 10:51pm

Hyun Jeong-eun, Chairwoman of Hyundai Group presented major tasks in 2010 in her New Year’s message to employees. First, Hyun called for more effort to promote the takeover of Hyundai Engineering and Con-struction Co., Ltd. and expansion of business in North Korea. Hyun said, “The takeover of Hyun-dai Construction is a new growth dynamic to be secured for the Group’s future.” The Chairwoman also asked all employees to, “Work harder to develop business in North Korea, an important blue ocean promoted by the late Group President Jeong Joo-young.”

Hyun showed her strong belief in...

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15 January 2010 - 10:45pm

Great Challenge 2011’ is Hanwha Group’s slogan for long-term business sustainability. Kim Seung-youn, CEO of Hanwha Group praised employees, noting that the Group outperformed management plans despite unfavorable market conditions in 2009 in his New Year’s address on January 4, 2010. Kim defined 2010 to be the year to overcome the company’s limitations and move forward by accelerating overseas market growth.

Kim said that the area of finance would be central to energizing the whole Group’s business, and urged employees in the area of integrated indemnity insurance to do their best...

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15 January 2010 - 10:34pm

Doosan Group’s Chairman, Park Yong-hyun, announced his new year’s address on December 31, 2009. In it, he emphasized that Doosan’s primary field of operations will be the global market. He credited Doosan employee’s tireless efforts to enter new markets throughout the 1980s and 1990s. “We must maximize synergistic effects through efficient integration with our overseas affiliates, including Bobcat, Babcock and Skoda Power,” remarked Park.

Despite the global economic recession, Doosan demonstrated its potential to maximize its greatest asset, manpower, to maximize its abilities. “...

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15 January 2010 - 10:23pm

There is no doubt that Korea’s shipbuilding industry had a difficult time last year. The unprecedented poor market conditions led to fewer orders and the industry recorded a disastrously poor performance.

The total value of orders (US$9 billion) of the six listed companies; Hyundai Heavy Industries Co., Ltd., Samsung Heavy Industry Co., Ltd., Daewoo Shipbuilding & Marine Engineering Co., Ltd., STX Offshore & Shipbuilding Co., Ltd., Hyundai Mipo Dockyard Co., Ltd., and Hanjin Heavy Industries and Construction Corp. fell by 84% compared to 2008. In particular, the merchant...

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15 January 2010 - 9:18pm

Ssangyong Engineering & Construction is seeking to actively excavate a new growth engine for 2010 under the company’s new management slogan, “The New Future, Green Ssangyong.” Continuing from the company’s efforts in 2009, Ssangyong will continue to focus on its strength in overseas’ projects as well as targeting the domestic housing market and public construction sector.

For its environmentally-friendly construction sector, Ssangyong is striving to obtain an accreditation from LEED (Leadership in Energy & Environmental Design) of the United States and is planning to...

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15 January 2010 - 9:16pm

The Korean economy seemed to recover in the second half of 2009 with the execution of a new, expansive financial policy. Since the government is actively progressing with public projects, such as the Four Rivers Restoration Project and the Seoul Metropolitan Transportation Expansion Project, civil engineering orders are expected to increase significantly.

The government’s early budget execution on public project sector in the first half of 2009 helped the liquidity and assets of major construction companies increase. Although liquidity is expected to decrease once the fund is...

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15 January 2010 - 9:11pm

GS Caltex Corporation has set its vision to become a “leader in providing total energy services” and make the highest profit in the Pacific area. In order to achieve this vision, the company has set 2010 as “the year of Bridge to the Future” for both existing and emerging business areas.

Hur Dong-soo, Chairman & CEO, said in a New Year kick-off meeting that profits from existing business areas, such as base oil, aromatics and petrochemicals should be sustainable with new growth areas such as fuel cells, thin film batteries, carbon materials and resources development. Hur also...

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15 January 2010 - 9:08pm

The refinery margin is expected to pick up following a recovery in market demand and a slowdown in the expansion of refinery capabilities in Asian countries. While operating profit is also forecast to recover, the degree of recovery is limited. Meanwhile, a possible drop in the petrochemical business will adversely influence profitability.

Market demand for oil, which considerably decreased in 2009, is expected to turn around in 2010 as the global economy appears to be emerging from the mired recession. Furthermore, capacity-building competition among Asian economies in the...

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