Chung Mong-won, chairman of Halla Group, said that he will nurture Mando Corp., the group's main automotive parts manufacturing unit, as one of the globally competitive firms with 9 billion won in sales revenue and more than 7 percent in operating profit ratio by 2020.
Mr. Chung said this in the 2015 Mando global business strategy meeting held for four days between July 9 and 12 at the Halla Group employee training center in Giheung, Gyeonggi Province, adding, "In the second half, Mando will be able to achieve the year's sales revenue target of 5.3 trillion won without difficulty."
He added, "The order booking volume for Mando in the first half was in excess of 7 trillion won. It will be able to break this year's target order volume of 10.2 trillion won and hit a record order volume at the end of the year."
In order to be reborn as a global manufacturer, Mando Corp. will increase the share of new products while accelerating its move into the Chinese market. A high-ranking official with Mando said, "By successfully introducing the electronic power steering and integrated dynamic brake systems currently under development, we will raise the share of new high-tech products in total up to 50 percent within five years from now."
In addition, the company will strengthen its ties with Chinese car makers such as Geely with which it established an auto parts joint venture, Chang'an Automobile, and Great Wall Motors, thereby increasing the sales revenue of Mando China Holdings to 3 trillion won by 2020.
