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15 January 2010 - 11:30pm

BusinessKorea held an interview with Kim Tae-woo, executive vice-president and head of the Nuclear Power Plant Business Group at Doosan Heavy Industries to let readers better understand the nuclear power plant business.

Q: What does the UAE nuclear plant project mean to your company?

A: I think we landed the UAE nuclear plant project as the global market has finally recognized Korea’s advanced technology in nuclear plant construction and operation. I am proud that Doosan Heavy Industries has helped to enhance the reputation of Korea. We might not have been able to win this...

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News

15 January 2010 - 11:25pm

A Korean consortium signed a contract worth US$40 billion to build four nuclear power plants in the United Arab Emirates (UAE) in late December of 2009. Korea and the UAE signed and announced the deal at a ceremony in Abu Dhabi attended by Korean President Lee Myung-bak and UAE President Sheikh Khalifa bin Zayed Al Nahyan.

Under the nuclear power plant construction agreement, the consortium, led by the Korea Electric Power Corporation (KOPEC), will build the power plants by 2020. US$20 billion will go into their construction while a further US$20 billion will cover services, such as...

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New Future, Green Ssangyong

15 January 2010 - 11:15pm

Kim Suk-joon, Chair-man & CEO of Ssangyong Engineering and Construction, said that the company showed strong performance, thanks to rapid recovery of domestic economy in 2009 in his speech on January 4, 2010. The company won orders worth more than one trillion won in domestic public construction, while overseas sales increased by 40%.

Kim forecast harsher competition in public construction projects while expecting a recovery in the private sector based on reconstruction and redevelopment in Seoul and Metropolitan areas in 2010. The oil price recovery in the Middle East and...

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The Tenth Anniversary

15 January 2010 - 11:15pm

Kang Duk-soo, Chairman of STX Business Group, said that 2010 will be a very critical year for the company as it will celebrate the tenth anniversary since its establishment in 2001. Kang described the corporate plans for 2010 with words like as clearer destinations, well-made maps, strong hulls, and skilled shipmates.

As for the destination for the next 10 years, Kang said the company would achieve sales totaling 100 billion won based on marine transportation, shipbuilding, machinery, plants, and energy, helping to create a strong company immune to any economic fluctuations.

...

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News

15 January 2010 - 11:15pm

Q: A Korean consortium won a project worth US$40 billion to build four nuclear power plants (5,600MW) in the United Arab Emirates. Could you tell us more about its meaning and economic value?

A: It has been 50 years since Korea introduced nuclear power plants with the help of foreign engineers. However, Korea did not export its nuclear power plant technologies. Therefore, it is quite meaningful that the UAE project made Korea the world’s sixth nuclear plant exporter after the U.S., France, Canada, Russia and Japan. In particular, this UAE project has proven the excellence of Korea’s...

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15 January 2010 - 11:04pm

Choi Ji-sung, President of Samsung Electronics Co., Ltd. designated 2010 as the first year to realize Vision 2020, the corporate goal to become the world’s best company in ten years during his New Year’s message on January 4, 2010. Choi encouraged 700 executives and employees attending the kick-off meeting in Suwon, by saying, “Last year, you achieved excellent results despite some of the most difficult management conditions in history.” He forecast that global companies with completed restructuring would revive while global economic recovery should begin this year.

With Vision...

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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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