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Samkwang Glass CEO Lee Do-haeng Aims to Accomplish Sales of 500 Billion Won in 2018
Glasslock
Samkwang Glass CEO Lee Do-haeng Aims to Accomplish Sales of 500 Billion Won in 2018
  • By matthew
  • April 8, 2015, 03:00
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A Samkwang Glasslock brand glass pan and cover.
A Samkwang Glasslock brand glass pan and cover.

 

Samkwang Glass CEO Lee Do-haeng said on April 7 in a press conference to celebrate its ten year anniversary, “Since the supply and demand situation of kitchenware, such as glass bottles, cans, and glass tableware, is favorable, we are planning to operate the domestic production line at full capacity next year. Along with this, we will make effort to reach 500 billion won [US$456.95 million] in sales in 2018 by strengthening the overseas market invasion, including in Asia and the U.S.”

Lee said, “We sold 2.9 million sets in the domestic market through the home shopping network alone, and 300 million sets taken as a whole. Even though we are currently exporting our products to 85 countries, we still have a long way to go.” 

The company recorded 283.8 billion won (US$259.37 million) in sales and 8.945 billion won (US$8.17 million) in operating profits last year, selling its bottles, cans, and dishware evenly. 

He said, “By expanding sales in every business division, we will record 300 billion won (US$274.17 million) in sales this year without fail. As we have enough high turnover to the product output falling short of demand due to the increased demand of soju bottles and the cosmetics market expansion, we are confident to improve our performance.” 

He also expressed his confidence about the overseas market penetration. Lee said, “We have finished settling the unnecessary business divisions in China. We will also accelerate finding new markets in emerging countries which have a high chance of glassware market extension in the future including Latin America, Southeast Asia, India and the Middle East.”

Moreover, Samkwang Glass is strengthening its cookware brand business. Based on the positive response of a frying pan Granoble from French cookware brand Sitram, which was launched in December last year, the company will sequentially release induction frying pans and cast-iron saucepans in the future.