Chairman Jo Dong-gil Emphasizes 'Discovering New Businesses' in New Year's Address
"This year, I ask that you focus all your capabilities on finalizing new business plans early and dramatically increasing the company's value." This is part of the New Year's address by Cho Dong-gil, Chairman of Hansol Group. He emphasized concentrating the group's efforts on discovering new businesses this year.
On the 21st, Hansol Group announced its plan to improve corporate value and lay the foundation for future new growth through active new business discovery. In this regard, Hansol Group plans to quickly finalize and implement a business portfolio strategy for each affiliate, including new businesses to be pursued in addition to existing operations. This decision follows the completion of structural adjustments such as last year's sale of Oak Valley, which strengthened the group's fundamentals and secured momentum for new business initiatives through improved financial soundness.
Hansol Group intends to secure a sufficient pool of new businesses to flexibly respond to changes in the business environment. Regarding new business promotion methods, the group plans to secure various entry options including traditional mergers and acquisitions (M&A), startup investments, and joint ventures, while expanding networks related to external private equity funds and venture capital to actively discover promising ventures and startups, thereby aggressively pursuing future growth businesses.
Alongside this, Hansol Group will also implement changes in personnel systems such as evaluation and compensation to support new business initiatives and establish an innovative and challenging corporate culture. The group plans to actively secure and nurture talent suitable for new business promotion. As a measure to create new business opportunities and foster an innovative and challenging corporate culture, an internal new business idea contest will be held for employees. This contest is open to all employees of Hansol Group affiliates regardless of company or position, and if proposed ideas are recognized for their potential to become new businesses, internal commercialization and startup spin-offs will proceed, and idea proposers can participate in the business as actual executives through equity participation.
A Hansol Group official stated, "We are preparing various measures, including internal contests, to discover new business models," adding, "With the completion of business restructuring, we expect new business promotion to accelerate."
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