Daewoo Shipbuilding’s “This year’s order target of 8.5 trillion”…

View of Daewoo Shipbuilding & Marine Engineering.  (Photo = Daewoo Shipbuilding & Marine Engineering)
View of Daewoo Shipbuilding & Marine Engineering. (Photo = Daewoo Shipbuilding & Marine Engineering)

[서울파이낸스 주진희 기자] Daewoo Shipbuilding & Marine Engineering is carrying out extreme cost reduction activities with all executives and staff members to achieve this year’s order target amid the new coronavirus infection (Corona 19).

Daewoo Shipbuilding & Marine Engineering announced on the 26th that it will achieve orders of $7.7 billion (approximately 8,5177 billion won) as its management goal this year. This is about 37% higher than last year’s $5.64 billion.

The company expects sales to decline significantly due to the Corona 19 pandemic, and plans to carry out cost reduction and active order-taking activities in which all executives and employees participate. Through this, it is a position that it will do its best to achieve the goal and secure stable volume and operating profit in the future.

To this end, executives including Lee Seong-geun expand the scale of the existing wage return, which has been carried out since 2015, and return it up to 50%. Employees will also minimize overtime (O/T) and actively pursue labor and expense reductions, such as exhausting their annual leave. In addition, the company plans to minimize expenditures other than indispensable investments, and secure stable operating funds of more than KRW 1 trillion, including delivery costs for major projects this year and the sale of assets other than core operating assets being promoted.

Previously, President Lee emphasized’overcoming the crisis’ in this year’s New Year’s speech. He said at the executive debate, “We must achieve the order-taking goal to secure the future for sustainable management.”

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