More S. Korean companies in ‘1 trillion won club’ list
February 4, 2014 Leave a comment
More S. Korean companies in ‘1 trillion won club’ list
Chun Chung-hong
2014.02.04 17:50:41
A series of South Korean companies are to made entry into the ‘one trillion won club’ of sales. Those are Hanssem, Moneual and Seoul Semiconductor. Their feat holds significance as they achieved surging growth in their respective furniture, electronics and LED areas even amid unfavorable business condition.
Home interior company Hanssem is the first to join the club this year. Its sales would reach 1.01 trillion won on a consolidated basis last year, up 29 percent from 783.2 billion won in 2012 on the back of strong fourth quarter earnings and growth of B2C/ B2B, market watchers expected.
Consumer electronics company Moneual also achieved one trillion won sales in a decade after its foundation in the face of fierce competition with global giants including Samsung and LG.
Rather than competing with large companies, Moneual built its reputation as a consumer electronics maker with the release of its robot cleaners. It also drew attention as ‘Korea’s Apple’ by targeting overseas market including the US and China with its all-in-one PC.
Meanwhile, LED company Seoul Semiconductor will likely see its sales surpass one trillion for the first time in its history.
The result deserves attention as it is the sole LED manufacture to reap such fruits. It will likely generate 1.02 trillion won sales last year, up 20 percent from theprevious year’s 853.7 billion won.
An official from Seoul Semiconductor noted, “oversupply of LED products led to negative growth in 2011, but we managed to enjoy skyrocketing growth in the light sector by investing over 15 percent of sales.”
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