Export Award
Shinsung Solar Energy (Chairman Lee Wan-geun) was awarded the US$50 million export tower on Dec. 5.
They won this new award four years after receiving the US$30 million award in 2010. They won the award by signing large scale exports contracts with China, Japan, and the U.S.
As of the third quarter of 2014, 50 percent of all sales accounted for export performance, and its operation rate surpassed 90 percent.
Shinsung stubbornly maintained a solar cell and module-oriented business structure, while other solar energy companies increased business by jumping into photovoltaics to improve their profitability.
As part of sales of 120 billion won (US$107 million) in 2013, the photovoltaic business made less than 10 percent in sales, and the sales were mostly from solar cells and modules. The industry highly appraised Shinsung because it achieved high exports worth US$50 million amid the continuous decrease of module prices.
An official from Shinsung said, “We will build up presence in the field of solar cells, modules, and systems, and open up various overseas markets.”