LS Cable announced on February 18 that it has set its sales target at 3.5 trillion won for 2010. Despite the global economic crisis, LS Cable achieved domestic sales of 3.1 trillion won and operating profit of 163.6 billion won in 2009. These outstanding results are the fruits of the company's business model which is centered on application and solution. The company has set this year's business policy to focus on the “maximization of outcome to strengthen global competitiveness.” The main areas that the company will focus on in 2010 include the creation of business outcome, the strengthening of the foundation of its global business, securing the company's global competitiveness and innovation of its organization's culture.
To improve business outcome through the strengthening of its business competitiveness, the company will focus on the diversification of its products, as well as quickly adjusting to the constantly and fast changing market. The company will not only solidly secure its status in the Middle East, which is the company's main market, but also aggressively seek to enter other emerging markets, such as South East Asia, India and Europe. Starting with the submarine cable construction project connecting Jindo and Jeju, the company will actively seek to expand its submarine business sector. The company is also planning to strengthen its business model by expanding into the application and solution business, including wind power, railways and rolling stock and electric automotives.
To strengthen the foundation of the company's global business sector, LS Cable will aggressively focus and expand its markets in the United States and China. In order to become a notable company with total solutions in optical communication in the United States, LS Cable will focus on the innovation of its business structure of Superior Essex which LS Cable acquired in 2008. On top of this, the company is also striving to foster more energy-related businesses. Utilizing the company's cutting-edge technology and the solid existing operation network of Superior Essex, LS Cable is expecting to successfully stabilize its business in a relatively short period.
Meanwhile, in an effort to secure global competitiveness, the company is planning to increase the innovation of its organizational culture by hiring more highly skilled professionals in technology, increasing its marketing and sales sectors by up to 10% and constantly promoting customer satisfaction centered management. LS Cable is aiming to become the world's No.1 cable maker by 2015 through such efforts.
Recently, LS Cable won an order to construct an integrated subway payment system in the Philippines under BOT (Build, Operate and Transfer). The 2.5 billion won project is to construct an integrated subway payment system in Manila, the capital city of the Philippines, which 300 million people use annually. There are three different subway lines in Manila. However, each line employs a different payment system, causing great inconvenience. LS Cable will not only integrate these different payment systems into one convenient system, but will also reduce the current ticket purchasing waiting time from the current four-ten minutes. As the company seeks to expand its business beyond cable making, LS Cable plans to win other contracts for payment systems in the Philippines, including those for buses, taxis, trains and ferries.