LGI Vows to Create Performance at the 2015 New-Year-Start Meeting
LGI Vows to Create Performance at the 2015 New-Year-Start Meeting- CEO Song Chi-ho pledges in his New Year address to ask for solid determination and action,and to achieve the company’s business goals. - The company proclaims its new vision slogan “The Way Forward” to unite the companywide capabilities.“All we have to do now is to demonstrate thorough determination and to carry out thorough action.” This is what LGI CEO Song Chi-ho emphasized at the New-Year-start meeting on January 2. CEO Song said: “While last year, we focused on laying a sound business groundwork and consolidating an internal healthy business foundation due to the sluggish global economies, the fall in prices of resources, and other difficulties, this year, based on such foundations, we vow to focus on thoroughly attaining real achievements.” This suggests that LGI’s full-swing efforts for creating performance should be supported by the employees’ thorough determination and action.LGI thus reestablished and proclaimed the company’s new visions for leaping forward again in the markets. The new vision slogan is “The Way Forward," by which the company vows to take on the challenges ahead and to take the initiative to pursue businesses in the categories of resources development, trading, and project businesses, and to achieve stable growth together with its customers, partners, and employees. The company explains: “We will internalize the key capabilities and shared values – which were established to realize our visions – across our organizations, and make concerted efforts to achieve our business goals.” LGI offered its key tasks for this year: boosting the competitiveness of its resources business, expanding its project business, and constructing an infrastructure for its industrial-materials business. With the expectation that the prices of resources and raw materials will continue to fall this year, such strategy aims to establish a business structure designed to respond to such volatility from a long-term viewpoint. In the category of its resources business, LGI will boost the operational efficiency of its existing assets, such as mines and mining blocks, to boost their profitability, and will also continue to increase new investments. LGI will positively pursue investments in new mines in China, where it has ample experience, and will expand its project of developing petroleum in South America and the Middle East. The company will also invest in coal-fired power generation plants as well as logistics infrastructures aimed at boosting its sales base. The company, which has positively pursued national-development-type businesses in Turkmenistan, Oman, etc., has selected Algeria and Myanmar as new strategic nations, and to develop projects there. The project business is intended to enter the business area, which is linked to coal- and gas-fired power generation, chemical plants, and other resources, so as to boost the synergies with the businesses of developing resources and trading. In the category of industrial materials, the company will explore competitive, excellent clients, increase the number of items, and thus expand the business areas.