[New Year's Message] Park Jung-won: "Let's Find Opportunities to Lead the Future with Confidence"

"Times of Retrenchment Are Opportunities for the Prepared"
Urging Readiness to Expand Opportunities in New Business Areas

Park Jung-won, Chairman of Doosan Group. Photo by Doosan Group

[Asia Economy Reporter Choi Seoyoon] Park Jung-won, Chairman of Doosan Group, said in his 2023 New Year's address, "Although a more turbulent business environment is expected, let us be confident in the fact that we are well prepared and seek opportunities to lead the future."

On the 1st, Chairman Park urged to carefully examine the ongoing uncertainties in the business environment such as financial market instability, great power rivalry, and raw material supply chain disruptions, while maintaining a posture of immediate response to changes. He emphasized, "Being cautious does not mean being passive; on the front lines of work, we must adopt a more proactive and challenging attitude."

Chairman Park stated, "A time when everyone is shrinking is an opportunity for those who are prepared," and stressed, "Let us be confident in the fact that we are well prepared." In particular, he cited confidence in strengthened financial health, business experience and technological superiority in fields expected to expand opportunities, advanced technology and product capabilities in future growth engines, and experience in growth through innovation.

First, Chairman Park said, "As a result of solidifying our fundamentals over the past few years, we are relatively well equipped financially to take the lead when opportunities arise," and urged, "While actively seeking opportunities in discovering new business models and entering new markets, let us continue to strengthen our financial structure to maintain financial health."

Additionally, Chairman Park noted the growing expectations for nuclear power and hydrogen in the energy sector due to global energy supply conditions and policy changes, saying, "Let us have confidence that we are ahead of anyone else in fields where opportunities are clearly expected to expand, and maintain and develop our business experience and technological superiority." He added, "The outlook for small modular reactors (SMR), which we entered early, is bright, and it is hard to find anyone else with a complete value chain covering production, distribution, and utilization in the hydrogen sector as we do."

Furthermore, Chairman Park evaluated that new business areas such as collaborative robots, hydrogen drones, and 3D printing possess global competitiveness. He also expressed expectations for the semiconductor business aiming to be a world-class post-processing company and the gas turbine and hydrogen turbine sectors, which are strengthening technology across the entire product lineup. Chairman Park said, "Let us build confidence in the technologies and products that will become future growth engines and develop products and technologies with the determination to take responsibility for the group's future."

Lastly, he said, "In construction machinery, industrial vehicles, and electronic materials sectors, we saw confidence as an industry leader in proactively responding to the market by steadily expanding product lines and markets," and added, "I look forward to seeing us continue to maintain the top position through innovation and growth."

Along with this, Chairman Park emphasized 'fast decision-making' and 'safety.' He said, "To further develop the strength of fast decision-making, I will create a more horizontal and open communication environment," and urged, "Let us prioritize safety above all in every task."