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By Kim Yoo-chul, Korea times Boosted by active mergers and acquisitions (M&As) and strenuous overseas expansion, Kumho Asiana Group has set an ambitious goal of 25 trillion in sales next year. The airline and construction conglomerate said Wednesday that the goal represents an 18 percent rise from an estimated 21.16 trillion won in sales for this year. The group’s combined operating profit has been set at 1.9 trillion won, up 1 percent from 1.88 trillion won estimated for this year. “We will inject money and energy to make the group’s core segments ― airline, construction, tires and petrochemicals ― globally competitive,” a Kumho Asiana spokesman said, adding that the group will pursue M&As more aggressively. Investment for upgrading facilities and research and development will reach 2.92 trillion won, up 28.3 percent from 2.276 trillion won projected for 2007, according to the group. Kumho Asiana’s affiliates include Asiana Airlines, the country’s second-largest airline, and the nation’s No. 2 tire-maker Kumho Tire, which supplies high-performance tires to Volkswagen AG, DaimlerChrysler AG and Mercedes-Benz Group. “We will focus on shedding light on our car service and construction businesses,” the spokesman said. Recently, Kumho Asiana Group Chairman Park Sam-koo said the group will invest in a series of mammoth projects in Vietnam with $4 billion, including $2.5 billion for Giang Vo Trade Center and Me Tri Exhibition Center in the capital city of Hanoi. |
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