[Sponsored Report] Korean companies expand to new shores

Korean companies are hurrying to expand their “overseas territory” in an attempt to move away from the already crowded local market and find new directions of development, as well as avoid falling behind the competition.

Celebrating its 44th year anniversary, Posco has recently announced that it will step up as one of the 100 major global companies by 2020. The company announced that it would achieve 200 trillion won ($173 billion) of sales. One of the main axes for management in Posco is advancing to the global market. By solidifying the “U belt” of Eastern Europe, India, Southeast Asia and China as well as the “I belt” of North, Central and South America, it is thinking of ways to strengthen its power abroad.

Samsung SDS is also moving away from the congested local market and attacking the overseas market to become a global company.

Samsung SDS has been accumulating its know-how in SIE (Smart Infrastructure Engineering) as an electronic government, railroad AFC (Automatic Fare Collection), IT and DSC (Digital Space Convergence) business.

STX Group, which is achieving 90 percent of its sales from the overseas market, is a global company indeed. Under the management strategy “Realizing Dream in the World” the group is operating 170 branches and subsidiary companies overseas.

As the only global multi-shipbuilding group in the world with three major global production sites, it is stepping up as a plant and engineering professional company - and with overseas resource development as its new driving force, the group is continuing to strengthen its global competitiveness in energy and overseas resource development with STX Corporation and STX Energy in the center.

By Lee Ji-hyun [concordia@joongang.co.kr]