Hanjin Group Calls for Foundation to Create Stable Profits
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Hanjin Group Calls for Foundation to Create Stable Profits
Chairman Cho Yang-ho sets ¡®happiness¡¯ as the 2016 buzzword

30(Sat), Jan, 2016




Hanjin Group Chairman Cho Yang-ho gave a New Year¡¯s address in which he called for a foundation to create stable profits.(Photo:Hanjin Group)



In his New Year¡¯s address, Hanjin Group Chairman Cho Yang-ho stressed the importance of nurturing capabilities to tide over crises and the building of a foundation for the creation of stable profits. 

While delivering a speech at a ceremony to kick off the 2016 business year at the Korea Air headquarters building in Gonghang-dong, Seoul, on Jan. 4, Chairman Cho said, ¡°Diverse external variables, including the sagging global economy, are required to make a fundamental re-examination into corporate survival strategies. The future can make a difference, depending on how we make changes and prepare even though we face the same crisis.¡±

Chairman Cho added, ¡°When we¡¯re thoroughly armed with capabilities to overcome a crisis on our own, we can establish a foundation for the creation of stable profits.¡±  

Cho cited the significance of anticipatory marketing. The chairman said companies could survive in fiercely competitive environment only if they create values that customers have never imaged, not simply responding to their needs. 

Chairman Cho urged his executives and staff members to work prudently in accordance with principles and rules, taking an attitude of making a fresh start. He asked them not to be careless, adding that safety is the foremost task. 

He put forward the 2016 management buzzword ¡°happiness.¡± 

Happiness is set as a core value since the purpose of airline transportation is to convey happiness to customers and neighbors through travels, meetings and the delivery of goods, the group said.

Meanwhile, Chairman Cho ruled out the possibility that Hanjin Shipping could acquire Hyundai Merchant Marine Co. He made the remarks at a meeting with reporters on the sidelines of a New Year¡¯s gathering of business leaders at COEX in Samseong-dong, Seoul, on Jan. 6. 

Regarding his group¡¯s additional equity investment into Hanjin Shipping, Chairman Cho said his group would do its utmost to save the company, adding that the shipping industry is an essential part of the logistics industry. 

Words have surfaced that Hanjin Shipping and Hyundai Merchant Marine, the nation¡¯s No. 1 and 2 national flag-carrying shipping companies, respectively, might be consolidated due to swelling debt stemming from losses, coupled with the sagging shipping industry. 



Cho Won-tae Now Charged With Overseeing Company's All Business Areas


Korean Air carried out the 2016 regular reshuffle of executives, promoting 11 executives on Jan. 11. 

Korea Air appointed Senior Executive Vice President Cho Won-tae, who was in charge of passenger and freight, to senior executive vice president in charge of overseeing all business areas, including passenger, freight, maintenance and operations. It is noteworthy that Senior Executive Cho was not promoted in the latest reshuffle, but he took the newly created job of senior executive vice president in charge of Korean Air¡¯s overall operation of all business areas, ranging from passenger and freight to cabin and hotel.

   
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