Mr. Noh, the president of Hyundai Corporation “Concentrating on Profitable Enterprises"

USA (SANEPR.com) May 14, 2008 -- article source:http://auto-part-manufacturer.net/---News of cars and Auto industry,cool picture of new cars

Starbucks intensely keeps 151 stores in Seoul among 227 stores in Korea.

In comparison, they had only two stores in Chungcheong-do.

After finding places where a population who costly deserves a cup of coffee as
expensive as a lunch, they concentrate their capability on the places.

General trading firms should do so.

The conventional idea to extend businesses like an octopus or mushrooms after
a rain will come to nothing and instead, they should concentrate on the only
profitable and competitive business fields.

Among top 5 domestic general trading firms, the last corporation placed under
a debt workout program, Hyundai is aggressively reviving, preceded by
‘Starbucks’ benchmarked growth strategy.

Considering that the sales(1,205.9 billions won) and operating profits(16.9 billions won)
of their 1Q through 3Q this year increased 45% and 18%, respectively, compared to
the previous period, they set the goals of the next year’s sales and operating profits
as high as 20 ~ 30% of the year’s results.

Recently, the corporation successfully borrowed a loan amounting to 90 million
dollars, at a favorably low interest rate, from overseas banks, only by means of
their credit standing, and as such, Hyundai’s international credit standing
seems to be almost recovered before they had been placed under the debt
workout program.

Mr. Noh, the president was further sure that he expects the net profit of
100 billions won in 2010.

On 14th, the reporter met him in his office located at Shinmunro, Seoul and
after being asked about the secret of Hyundai’s revival, he answered,
“Simple, we carefully selected some competitive fields and intensely
invested human power and money in them. The present positive signs are
the results of the effort.”

“In March, I just took the office and soon, I focused on ‘sales force’ and
strategically arranged the competent sales persons to the very front lines.

Geographically, I focused on emerging markets like Russia, Dubai and Vietnam.

Instead of taking others as they are, we just concentrated top 3 profitable
business fields such as trading, resource development and shipbuilding.

Reasonable compensation for the employees’ achievements was also
significant.

Indeed, he introduced ‘Immediate Incentive System’ in which employees
with monthly good results are awarded with 500,000 won since having
taken the office.

Also, considering that the real heroes of overseas sales are the local
employee, he increased their salary up to 80%.

Therefore, the inquiry from overseas markets increased almost twice
comparing to the previous year.

“Our trading business is stably growing up, based on the triangle countries,
and the overseas resource development business including Qingdao
Shipbuilding business, China would contribute to the corporate growth
from about 2010 or 2011. I also plan to attach ‘Hyundai’ logo to domestic
small firm’s IT products and export them by way of the corporate overseas
network and brand power” said Mr. Noh.
article source:http://auto-part-manufacturer.net/---News of cars and Auto industry,cool picture of new cars