Dongwoo Fine-Chem will actively foster 3E (Electronics, Energy, Environment) based on information, electronics and material business as its future growth engine, a top manager of the company said.
Noting that companies need to diversify their business arena at a time when the technology and market situation is changing dramatically, Moon Hee-chul, vice chairman of Dongwoo Fine-Chem said, "Our company will focus on business diversification this year.
"In the energy sector, Dongwoo Fine-Chem will make a strong push for solar energy, secondary battery and fuel cell-related businesses. We have already launched commercialization projects in some material fields," said the vice chairman.
"In the environmental sector, meanwhile, we are propelling research and development projects on environment-friendly materials and chemical recycling. Under the recognition that energy and environment will be a topic of conversation in the future, we will actively push ahead with R&D projects in the two future-oriented sectors," he said.
2010 key projects
At present, about 2,200 employees are working at company offices and factories in Seoul, Iksan and Pyeongtaek.
Dongwoo Fine-Chem, the sole total solution company in the LCD field in Korea, with an annual turnover of some 1.9 trillion won, is emerging as the core of global network of Sumitomo Chemical, its shareholder.
"Despite such an uneasy managerial environment in 2010 regarding exchange rates, oil prices and the market situation, our company has been achieving its managerial target on a step-by-step basis through differentiated technology and the fostering of new growth engines and globalization," said Moon.
"First of all, we are trying to expand our market share through the development of competitive and environment-friendly goods and technology differentiation this year," said the vice chairman.
"Secondly, we are going all-out to increase production of large sapphire wafers through facility investment and technology development. Thirdly, we are investing in construction of networks to advance into overseas markets, including China and Europe, in keeping with the globally stretching LCD industry, while exerting our best efforts to foster global talents," he said.
Mid- and long-term managerial plans
Vice Chairman Moon said that the vision of Dongwoo Fine-Chem is to become a top partner of customers in the electronics, energy and environmental sectors through technology, organization and innovation of profits.
He also said that the company has secured various origin technologies of the world's top maker, Sumitomo Chemical of Japan, and has the ability to develop technology of core materials.
"By making the best use of our accumulated R&D ability, technology service for customers, and business experiences, including joint development, Dongwoo Fine-Chem will become a top material-specialized company, which offers new value to customers, provides a happy workplace to employees, and provides shareholders with handsome profits," he said.
"To become a top partner of customers not only in the semiconductor materials and TFT-LCD material fields but also in environment and energy material fields, we are now pushing ahead with market expansion, fostering new businesses and globalization," said Moon.
Ways to foster next-generation growth engine businesses
Commenting that the digital industry representing semiconductors and display is leading the 21st century, the vice chairman said, "Companies that can develop state-of-the-art materials with their own technology will become true winners in the future. In line with this, Dongwoo Fine-Chem will continuously make active investments with expenses equivalent to 5% of sales and 250 skilled workers.
"Along with this, we will make a strong push for technology development of light emitting devices & materials and display materials, including OLED and white LED, which are expected to lead the future display industry following PDP and TFT-LCD, and expand facility investment in the sectors," he said.
"At the same time, we will make active investment in energy-related functional materials, including solar power generation materials, nano materials, lighting and fuel cells, while fostering them as next-generation growth engines," said the vice chairman.
Contribution to rapid growth of Korea's semiconductor industry
Moon said, "In case of manufacturing semiconductors and TFT-LCD, it is very important to control chemical manufacturing and quality thoroughly in order to develop materials for micro fabrication and minimize harmful metallic elements and contaminated materials.
"Related to this, Dongwoo Fine-Chem has pushed for self development of high-purity process chemicals, etchant, color resist and photo resist, and finally succeeded in localization of these products for the first time in the country," he said.
Noting that Dongwoo Fine-Chem is continuously contributing to the rapid growth of the nation's semiconductor industry by supplying necessary products at a proper time and satisfying customers' needs, he said, "The company will continue to develop differentiated technology through effective business dealings and speed management."
Since its establishment in 1991, Dongwoo Fine-Chem has played an important role in Korea's transition into one of the world's leading semiconductor powers through development of unique technology, including etchant, color photo resist and localization of photo resist technology.
Based on this success, Dongwoo Fine-Chem entered the information and electronic materials industry in 2002, a new growth engine for Korea, and began to manufacture color filters and polarizing film.
"Dongwoo Fine-Chem keeps tabs on the present management environment and looks for ways to maximize our core competencies. The company will build a more mature strategic partnership with customers, ensuring accident-free safe workplaces, and observing both local and foreign laws reflecting ethical management to set the foundation for sustainable growth and to become a respected company in the community," he added.
