";
";
The ”Hope 2005” initiative, started in 2002, was enterprise-wide management innovation movement.
The company successfully achieved the goal one year earlier than planned by increasing productivity through aggressive investments in plants, establishing 4 groups/3 shifts system and building ERP system.
During this period, ordinary profit increased 8 billion won to 39.4 billion won and the debt ratio sank from 1,432% to 187%. After the goal was achieved, the company announced the next initiative, Pride 2701, which contained introduction of new facilities (5ZM, 3BA) and sales of old facilities in Ulsan plant by 2007. As a result of Pride 2701 initiative, production capacity increased from 250,000 tons to 290,000 tons and sales hit record high of 838.6 billion won. The new initiative until 2010 was Goal in 2010 which aimed diversifying supply lines to secure price competitiveness and constructing the new precision strip cold rolling plant to expand market to advanced high-precision material. After successful “Goal in 2010” initiative, the company announced “Innovation & leap 5050” initiative which aims to increase the profitability of new business to 50% of that of the existing stainless steel business by 2015. The company has believed that to achieve this goal, new growth engine is required and started to look for it.
This includes re-opening Ulsan plant closed in 2006 as auto-component plants and taking over Gwangju No.2 plant from Hyundai WIA to launch precision sand casting (PSC) parts manufacturing business. HYUNDAI BNG STEEL is now preparing to jump up to world-leading manufacturing company that specializes in parts/material.
