'Stability & Growth'
Doosan Industrial Development is restructuring its business portfolio

Doosan Industrial Development Co. is restructuring its business portfolio by exploring new businesses and expanding business activities.
Kim Hong-gu, president & CEO of Doosan Industrial Development Co., has declared stability and growth as his company's business strategies this year.
Despite economic difficulties facing the Korean economy last year, Doosan Industrial Development Co. made a strong showing last year as it ranked ninth in Korea in terms of the value of orders the company had landed. President Kim said his company would redouble efforts to tide over the hardship facing the economy that is projected to make its toughest sailing ever.
In the past, Doosan Industrial Development Co. had focused on housing construction, whose business performance was influenced by market conditions. However, Doosan will shift its business priority into achieving sustainable growth during 2005. First of all, Doosan will raise the portion of landing turn-key-based social overhead capital (SOC) and civil engineering projects and the scope of bidding to all parts of the nation, departing from its past focus on housing construction.
Considering the reality that the public life style has changed considerably in the wake of the full implementation of a five-day workweek system, he said, Doosan Industrial Development Company will enter such new business arenas like the leisure industry, complex tourism complex development, construction of dome stadiums and private investments into railway construction.
President Kim said Doosan would build up its core capabilities to make its foray into new business areas a successful endeavor.
Doosan Industrial Development Co. will raise the selling rate of apartments it is building as unsold apartments could have an unfavorable impact on the financial soundness of the company and pose a hindrance to the implementation of future projects.
Doosan will redouble efforts to ensure customer satisfaction by offering products tailored to customers?tastes and trends.
In an effort to meet customer's demands, Doosan Industrial Development Co. has introduced three "Ups Programs"- Trend-up, Grade-up and Style-up. Under the Trend-up Program, Doosan replaces the finishing materials apartment occupants want to do, free of charge, differently from those displayed in the model houses. Under the Grade-up Program, apartment occupants are offered services on items newly added or not initially but later requested at reasonable prices. The Style-up Program involves home interior professionals' services on displaying furniture and other interior things. The three Ups Programs have been applied to apartments being built under its housing brand "We've,"including the apartments occupants were allowed to move into in May.
Doosan Industrial Development Co. is also focusing on strengthening a competitive edge in terms of unit cost and technological prowess. To this end, the company is revamping its bidding system by building up an assessment management system for its business partners.
Doosan plans to build and sell 104,241 apartments across the nation during this year, the similar level of last year. A considerable number of apartments belong to the more than 1,000-household apartment complexes being built under reconstruction development projects.
One of Doosan's major projects being implemented during this year is the reconstruction of the Jamsil Apartment Complex, built by Korea Housing Corp. Five construction companies participate in the redevelopment project, and Doosan has landed a project of constructing 1,144 apartments ranging from 15 pyeong to 52 pyeong in size.
Doosan won a 422.2 billion won order on the construction of a new railway connecting downtown Seoul and Bundang. The contract amount is equivalent to 29.8 percent of sale forecast during the current fiscal year.
Meanwhile, Hanwha Securities Co. upgraded the target share price for Doosan Industrial Development Co. to 7,500 won per share, saying that the company posted a record high of 10 trillion won in order backlog. Doosan disposed of the sulphuration sector to focus on construction as its core business. The company is undertaking private-sector investment SOC projects worth 2.2 trillion won nw

Kim Hong-gu, president & CEO of Doosan Industrial Development Co.