| From the bottom of heart, we would like want
to say many thanks to our customers and partner companies
who have cared us so far.
At the end of the 1960s when Korea started attracting
the foreign capital to move forward with the industrialization,
Korindo launched a challenging spirit high enough
to move into woods of Indonesia to explore and develop
the overseas forest. And the spirit was real, and
such attempt turned out to be a great success for Korea,
a country with limited resources. In the 1970s when
the Indonesian government announced the prohibition
of timber export, we immediately invested in the plywood
factory on the site which served later as a solid
base for our success. In 1995, we extended our timber
development efforts to Irian Jaya, one of the most
secluded inland regions in Indonesia with the spirit
of "anyone who arrives there first gets it first"
and invested in the plywood manufacturing facilities
there accordingly. As a result, the business has expanded
to the largest plywood business in Indonesia, accounting
for an annual plywood production of 800,000 CBM, about
97% of which are currently exported.
Right after the initial success of the forest development
and plywood factory investment, Korindo started establishing
a factory producing papers used for newspaper in 1984,
which was then the first factory of this kind in Indonesia,
and the capacity is one of the largest in Southeast
Asia. The annual production is 400,000 tons, which
is two times the domestic demand in Indonesia and
70% of them are exported, contributing to the expansion
of Indonesian export.
In 1990, we moved to the container manufacturing
business that has been regarded as a 100% export business.
Although there were at least six other companies leading
to the excessive supply in the neighboring area competing
against us for the same business, all other companies
went bankrupt a few years ago and only Korindo
survived thanks to the aggressive marketing with the
support from the headquarters. As a result, Korindo
has enjoyed an almost full operation of an annual
production equivalent to 60,000TEU, the largest in
the South Asia. For information on the other Korindo
business in Indonesia, please refer to the corresponding
home page.
As described above, Korindo Group's growth has been
based on the export-based manufacturing business and
contributed to the overall growth of Indonesian industry,
export, employment, and local prosperity, and we are
beloved by both Korean and Indonesian people, which
we are proud of.
Korindo's challenging spirit along with its management
philosophy focusing on the export and manufacturing
business has been a main driving power that helped
Korindo keep growing even in the years of serious
economic recession in Asia.
Currently, Korindo are moving ahead uphill-bound
sometime and downhill-bound other time alternatively
in the middle of symbolical changes in the new millennium.
In this era of shifts, Korindo will pursue an innovation
most suited for itself. It would be certainly hazardous
if we do not provide an aggressive spirit while staying
idly in the comfort features or if we carry out a
nominal innovation without meticulous analysis and
planning only to say that we took an action of innovation.
Korindo will expand its business by specializing in
wood and paper businesses that are two pillars for
Korindo Group.
We will concentrate on development of technologies
and products that can yield the highest profit and
most competitive in the market. That may be sufficient
and necessary requirements to create high profitability
while reducing the pressure coming from the mandated
sales of the existing merchandise already in excessive
supply.
Also, recognizing the needs of marketing when the
economy is in recession, we will link what our customer
wants and needs to our front manufacturing site at
the forefront in the border-free world market to create
the maximum value. And we will also be prepared for
a new transaction technique such as e-commerce.
Global sourcing of various key raw and secondary
materials, as well as research on the advanced material
that can yield competitiveness is another topic Korindo
should address. In doing so, our financial structure
will be strengthened so that Korindo Group can have
a sufficient international competitiveness to make
further growth.
We believe that all of these goals can be accomplished
if we value quality more than quantity when dealing
with work force and if we invest in talented human
resources.
Again, we thank you very much for visiting us at
this site and we promise that Korindo will respond
to you faster and satisfy your needs more accurately
and that we will always share our prosperity with
you.
Kim Dong-hwan
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