Press Release

On March 28, the inauguration ceremony for new Doosan Group Chairman Jeongwon Park took place at DLI-Yonkangwon, Gildong, Gangdong-gu, Seoul. In his inaugural address, Chairman Park said that “the baton has been passed to us to add another page of growth to our proud and innovative history” and pledged to “bring about another 100 years of growth together” as the company marks the 120th anniversary of its founding. Chairman Park stressed that “a door of opportunity stands open for those who are ready to take up a challenge despite a profoundly uncertain global business environment,” and defined the company’s priorities as follows: 1) complete the financial restructuring process, 2) support the company’s new businesses to accelerate the achievement of their revenue and profit targets and identify new growth engines and 3) build a corporate culture centered on local operations. “Last year, we underwent a vigorous financial restructuring and laid most of the groundwork to deliver business and fiscal stability,” Chairman Park said. “We now have to put the finishing touches to the restructuring process and ensure that we regain our financial health.” He then went on to talk about his commitment to providing all the support needed to “accelerate the achievement of the stretching revenue and profit targets” set for the company’s new businesses, growing the Fuel Cell business to become “the top global player in the market” and “making the new duty-free business the next big source of growth for Doosan.” Under his leadership, the company will focus more on identifying new growth engines and encouraging attempts at innovative development throughout the organization. Chairman Park put special emphasis on the need to “build a corporate culture that is centered on local operations,” as “speedy judgments and actions taken there could make or break our chances for success, especially when the business environment is so unpredictable.” “It is essential that we actively seek out fresh opportunities and strive for brilliant execution every time,” he said. “We will take proactive actions and confirm this uncompromising mindset as a cornerstone of our business strategy.” “Behind our 120-year history is a vibrant, entrepreneurial spirit, which makes us unafraid of failure and willing to take risks,” he continued. And then, he urged everyone to make another 100 years of growth together with that entrepreneurial spirit. Regarding corporate social responsibility (CSR), Chairman Park reminded everyone of the meaning of CSR, which includes “the responsibilities that companies are obligated to fulfill as a member of society as well as activities that are necessary to attain sustainable growth.” On March 25, Chairman Park was elected as chairman of the board of directors and Group chairman of Doosan Corporation by the board members, following the general meeting of shareholders.▲In his inaugural address, Chairman Jeong won Park talked about “building a corporate culture centered on local operations,” stressing the need to “take proactive actions as a cornerstone of the company’s business strategy.”