Taekwang Industrial issues ambitious plans for 2020

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Taekwang Industrial issues ambitious plans for 2020

Taekwang Industrial said it aims to increase its annual sales to 8 trillion won ($7.5 billion) and its operating profits to 800 billion won by 2020.

About 100 company executives, including Vice Chairman Shim Jae-hyeok, gathered in Gyeongju, South Gyeongsang, on Friday, where the company’s new business plans were announced, under the name of “Jump 2088 Vision.”

The company last year marked sales of 2.8 trillion won and an operating loss of 37.2 billion won.

To reach its new goal by 2020, Taekwang needs to grow at least 13 percent every year. However, the company said that since July, each division had reviewed its business structure and strategy from top to bottom, and the company is confident of its targets.

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