'Global Asset
Management Corp.'

KAMCO CEO Kim reveals four management goals for 2007

KAMCO Chairman-CEO Kim Woo-suk said Korea Asset Management Corp. (KAMCO) is striving to become a global asset management company.
"This year will be a year for fully translating into action a new vision of becoming "a global asset management company that recreates new values"and mid- and long-term strategies. To this end, KAMCO will further step up our overall business performance capabilities and dramatically improve the backward profit base, while striving to achieve targets in each business area like non-performing loan resolution and government-commissioned duties through thorough target management based on unit cost of each business division,"KAMCO Chairman Kim said in his New Year's message.
KAMCO will work on such futuristic strategic businesses as the development of state-owned real estate and investments into overseas NPL assets, he said.
In particular, during last year, KAMCO focused on creating a foundation for entering the overseas investment business sector like an overhaul of laws and regulations. Starting with a contract on 500 billion won worth of NPL assets, already inked by the Chinese NPL investment consulting committee, KAMCO is striving to make this year the first year marking the launch of its full-fledged overseas market entry to yield tangible results.
KAMCO will do its best to post black figures this year by accomplishing yearly net profit targets on all business divisions, as it did last year, CEO Kim said.
Second, KAMCO Chairman Kim called for efficient management of public funds. A recent recounting of assets purchased by public funds, based on future cash flows indicates a projection of a remarked surplus. As a result, as of the end of last year, KAMCO has fully retrieved 40 trillion won in public funds managed by the company. KAMCO will also be able to repay 3 trillion won it received in government contributions for repaying public funds this year earlier than scheduled. In an effort to shed luster on the success story of managing public funds, he said, KAMCO will strive to maximize the retrieval rate of NPL assets.
Third, CEO Kim called for innovating business management. Kim urged his staff to keep on innovating business management systems and ensuring efficiency to strengthen competitiveness, saying, "Individuals and organizations should come to be on good terms with changes though innovations to survive an environment of unlimited competition."KAMCO Chairman urged his staff to innovate work process the way higher efficiency and productivity can be attained with an input of less cost and time and nurture their own business performance capabilities and arm themselves with a profit-oriented mindset.
Fourth, CEO Kim called for increased customer satisfaction.
Customer satisfaction cannot be overemphasized, and now that only corresponding to customers'needs on involuntary basis is not enough, KAMCO will have to take the initiative to meet our customers'needs. Handling complaints from customers is a must, he said.
Finally, Kim called for performance-oriented responsible management.
Last year, KAMCO signed a management contract with its CEO and a performance agreement with its executives, and besides, staring this year KAMCO will introduce an individual performance assessment system with employees on a trial basis, he said, adding that these are designed to raise external competitiveness by stressing performance-based duty execution and responsible management. The introduction of the upcoming individual performance assessment system is believed to have a considerable impact on employees'consciousness and development of the organizational operation, but KAMCO will employ operational skills to maximize organizational competitiveness by complementing and fixing it.
Reflecting on last year's achievements, he said he extended a thank-you to his executives and staff members for their dedicated support to its remarked achievements in all business areas, including organization management and projects despite the hardships that were overcome. nw

Chairman-CEO Kim Woo-suk of Korea Asset Management Corp. (KAMCO)