"Electric Newspaper" (Small and Medium Enterprise Report) El…
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There is a transformer manufacturing company that has entered the Japanese transformer market, which is famous for its meticulousness, and is growing steadily. The main character is Elpowertech (CEO Choi Seong-kyu, pictured), which has exported transformers to India, the US, Colombia, Taiwan, etc. in addition to Japan, and has received the $5 million tower, making competitors envious. CEO Choi Seong-kyu said, “I am proud that I have a better understanding of Japan’s sales, verification, and A/S systems than anyone else, having opened the export route to Japan and traded with it for the past eight years.” He added, “We are not satisfied with this, and are striving to become a ‘Japanese specialized export company’ recognized by others by holding technology exchanges once or twice a month.” He also revealed that while he has focused on the Japanese market so far and is conducting overseas business, he plans to expand his territory to Southeast Asia and the Middle East in the future to disperse risks. The recently developed 69kV transmission transformer has already passed the Manila Power Authority inspection test and is awaiting delivery. In addition, it passed the qualification examination of Dubai Electricity Authority and obtained the qualification to participate in the bidding, and is about to sign an MOU with the Mongolian Ministry of Energy. CEO Choi explained, “Due to the economic downturn, both the public and private markets are struggling, so if we fail to explore niche markets and overseas markets, we will inevitably be eliminated,” and “Entering and settling in overseas markets early is Elpowertech’s advantage and future survival strategy.” In fact, the transformer industry has been struggling for the past few years. Due to the nature of the transformer industry, which is closely related to the construction industry, it was difficult to avoid a decline in performance due to the economic downturn, and as low-price cutthroat competition began among companies, many companies went bankrupt. In order to overcome this crisis, Elpowertech has embarked on a large-scale facility investment, including expanding and relocating its factory and increasing the number of cranes and testing equipment. CEO Choi said, “It is a strategy to reorganize the company’s internal facilities while preparing for the moment when the economy improves,” and “Until next year, we plan to focus on improving product quality and strengthening reliability in order to achieve substantial growth.” Along with this, we plan to focus on entering the Middle Eastern market. As a result of our efforts in sales for the past five years, we are preparing to enter the market in earnest by signing an agent contract with a local company early this year. CEO Choi plans to structure Elpowertech’s business portfolio to consist of 30% domestic, 30% Japanese, and 40% third-party overseas markets. He also expressed his determination to place Elpowertech products at the top of overseas markets according to the paradigm of each country. CEO Choi said, “We are aiming to achieve sales of 100 billion won in 2020, our 20th anniversary,” and asked, “Please keep an eye on Elpowertech’s progress as we play a role as a strong domestic company targeting the global market until then.” Reporter Lee Jin-ju (jjlee@electimes.com) Last edited: 2013-08-26 11:24:54 Last written: 2013-08-23 07:47:06
[This post was copied from Press Release (Korea) on 2022-08-25 11:21:28 by the highest administrator]
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