Ssangyong Motor

- CEO and President Hyung-Tak Choi announces business plan and goals for 2008 at a ceremony celebrating the beginning of the year on January 3
- Planning to sell 141,800 units and record sales of 3.4982 trillion won… a year-on-year increase of 12.1 percent

SsangYong Motor (CEO and President Hyung-Tak Choi;www.kg-mobility.com) announced that the company has set its business goals as “sales of 141,800 units” and “3.4982 trillion won” at a ceremony celebrating the beginning of the year 2008 held at the Pyungtaek Plant on January 3.

It is estimated that the company sold a total of 136,581 units and recorded sales of 3.1200 trillion won in 2007. The business plan for 2008 is to sell 141,800 units and record sales of 3.4982 trillion won. In comparison to 2007, this plan seeks at least a 3.8 percent increase in the number of units sold and an 12.1 percent rise in sales.

Moreover, SsangYong Motor announced its plans to continue to be in the black, following the year 2007, and to focus its efforts in 2008 in establishing a foundation for stable growth and advancing into a comprehensive automobile maker, thereby growing into a globally competitive company.

To gain global competitiveness in the increasingly competitive environment, SsangYong Motor defined key management policies: Achieve sales targets; ensure profitability by curtailing costs; strengthen new car development, which is a future growth engine; satisfy customers by innovating services and quality; raise global manufacturing productivity and create synergy effects; and establish a full management support structure.

Based on these management policies, SsangYong Motor will implement various measures to enhance brand awareness and customer satisfaction; and focus on improving sales efficiency and the company’s network infrastructure, advancing into new overseas markets, and strengthening its core competencies in the R&D, production, and sales sectors.
 
During his New Year’s speech, CEO and President Hyung-Tak Choi said, “We will establish a strong foundation for achieving the 2008 business goals by successfully releasing the Chairman W, a large sedan that is the first in Korea to adopt a V8 5,000cc engine and seven-speed automatic transmission. I ask all divisions to acquire core competitiveness through changes and innovation.”