[DP News] We must break away from dependence on KEPCO and enhance our ability to develop overseas markets > Press Release

Choi Seong-kyu, CEO of Elpowertech, inspecting transformers to be delivered to KEPCO.

“We need to break away from KEPCO dependence and enhance our ability to pioneer civilian and overseas markets”

Interview - Choi Seong-kyu, CEO of Elpowertech

[Digital Power Reporter Park Jae-hyung] “The era of relying solely on KEPCO’s volume for business is over. Over the past three years since Kim Ssang-soo took office as president of KEPCO, more than 20 transformer companies have closed their doors. How long should we continue to depend solely on KEPCO? We need to enhance our ability to pioneer civilian and overseas markets as well,” said Choi Seong-gyu, CEO of Elpowertech.

Last year alone, Elpowertech exported transformers worth over 6 billion won to Japan, making it the only domestic company to export transformers to Japan, and is on a growth path. Unlike most transformer companies struggling with stagnant domestic volume, it is exporting transformers to Japan, India, the US, Colombia, and Taiwan, and is seeking a new breakthrough in overseas markets.

The fact that CEO Choi mentioned overseas market development at the first meeting is probably because Elpowertech is establishing itself in the overseas market.

Having served as the chairman of the Central Transformer Business Association and taking the lead in the development of the industry, CEO Choi recently took on the important role of chairman of the Western Transformer Association to help the industry leap forward through overseas exports.

CEO Choi said, “It is difficult for individual companies to develop overseas markets, but if we pursue business together at the association level, the possibility will increase significantly,” and “Since some transformer companies belonging to the Western Association also have overseas export experience, if companies with previous experience in successfully pursuing overseas business take the lead, we can expect unexpected results.”

Of course, as he is in charge of the duties of chairman, he will naturally seek joint overseas market entry by providing Elpowertech’s know-how in overseas market entry that it has accumulated over the past several decades, thereby setting an example.

CEO Choi, who has been working in the electrical industry since 1985, is known for his trustworthiness and loyalty. As such, CEO Choi donated 10 million won to help Japan, the largest business partner, recover from the earthquake. “We export transformers worth 5 to 6 billion won to Japan every year, and exports to Japan account for more than half of our total company sales. As someone who benefits from exports to Japan, I couldn’t just sit by and watch Japanese citizens suffer from the earthquake damage, so I decided to donate the money,” said CEO Choi. “Despite the damage from the earthquake, fortunately, our main trading company, Company Y, is located far away from the earthquake-stricken area, so our existing business is not affected at all. However, we only did a small thing to help Japanese citizens who are facing a great disaster, but we are receiving encouragement from many people and are receiving media coverage, so we are surprised.

However, CEO Choi has been secretly doing volunteer work such as donating to help the underprivileged and doing free facility maintenance, so he could have just passed over the donation, but the industry is talking about the generous donation of 10 million won, saying, “CEO Choi is indeed a great CEO.”

CEO Choi said, “We are currently preparing to relocate the factory by purchasing a site in Cheongwon-ri, Hwaseong-si, which is twice the size of our existing factory in Bukyang-dong, Hwaseong-si, Gyeonggi-do. “We are seeking to expand our production capacity to expand overseas markets,” he said, adding, “We will make a name for ourselves as a global powerhouse through quality first and global mindset.”

Reporter Park Jae-hyung, DP News

2012. 5. 4

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