Domestic sales and overseas sales target increased by 7.3 percent and 23 percent, respectively, from the previous year’s target
- The 2008 business goal is to “strengthen new growth engines through change and innovation”
Hyundai MOBIS has drawn up plans to become one of the top global parts companies by 2010 by strengthening new growth engines this year.
Hyundai MOBIS (www.mobis.co.kr; CEO and President Chung Suk-soo) held a business strategy seminar at a technical research institute located in Yongin City, Gyeonggi Province on January 11.
The seminar was attended by around 100 officials, including executives and managers from domestic and overseas business sites.
During this event, Hyundai MOBIS announced its goal to achieve domestic sales of 9.24 trillion won in 2008 and its plans to concentrate its competencies to this end. This is a 7.3 percent rise from the domestic sales plan of 2007 which was 8.61 trillion won.
To achieve this goal, the company is planning to have all employees strengthen innovation activities in all business sectors based on “change and innovation”; build a headquarters-centered global management structure; develop new growth engines; and strengthen key parts manufacturing by developing independent technologies.
The company aims to have its overseas corporation sales record 6.4 billion dollars, which is a 23 percent increase from the 5.2 billion dollars planned the previous year.
Hyundai MOBIS is planning to achieve this goal by making efforts in various areas, including fully launching the Chinese and Indian plants; expanding overseas key parts manufacturing; strengthening parts exports by diversifying items and suppliers; and expanding the global logistics network.
The module business sector is planning to fully launch the second plant in Beijing and the second plant in Jiangsu, each having an annual production capacity of 300 thousand units, and the Indian module plant which has an annual production capacity of 600 thousand units; expand the key parts business, such as by increasing overseas production of brake and steering parts and strengthening new business areas; strengthen parts exports to overseas finished car companies and parts companies; and establish a responsible management structure at overseas production plants; and thus enable Hyundai MOBIS to advance into a global parts company.
The part sales sector has formulated plans to optimize the domestic and overseas logistics network by maximizing synergy effects through changes in key parts business sites in Korea and by expanding overseas logistics bases, thereby boosting customer satisfaction; and to maximize sales by strengthening marketing and sales capacities and expanding the foundation for the supply of aftermarket parts.
The technology development sector announced that it will acquire high-quality technologies in the module manufacturing sector by strengthening the development of independent technologies in the key parts business area, including brake systems and steering devices; pursue cost reductions by developing parts that merge various functions and through the common use of parts; and strengthen R and D competencies by developing experts and making continuous investments.
The technology development sector also added that this year will signal the beginning of Hyundai MOBIS’ transformation into a global parts company based on quality technologies.
Hyundai MOBIS has declared the Year 2008 as the “Year for strengthening new growth engines through change and innovation” based on three management policies and / “strengthening cost competitiveness,” “expediting creative innovation,” and “strengthening new growth engines.” The company is planning to focus its competencies on these policies.