{"id":731,"date":"2016-04-16T23:59:14","date_gmt":"2016-04-16T23:59:14","guid":{"rendered":"http:\/\/minutes.machine.market\/?p=731"},"modified":"2016-04-16T23:59:14","modified_gmt":"2016-04-16T23:59:14","slug":"new-chief-looks-at-fresh-ventures-to-help-doosan-recover","status":"publish","type":"post","link":"https:\/\/machine.market\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/","title":{"rendered":"New chief looks at fresh ventures to help Doosan recover"},"content":{"rendered":"

Doosan Group,<\/a> a troubled machinery<\/a> and construction conglomerate, has ushered in its new leadership as Park Jeong-won, the eldest son of former Doosan Group Chairman Park Yong-kon, officially took over the group on Monday.<\/p>\n

The new chairman pledged to complete the ongoing financial restructuring aimed at raising capital in a push to cushion the ballooning losses of key affiliates including Doosan Heavy Industries & Construction, Doosan Infracore and Doosan Engineering & Construction.<\/p>\n

\"28205113\"

Park Jeong-won<\/p><\/div>\n

\u201cWe\u2019ve made a strong base for stable business management through the reorganization of business assets and liabilities,\u201d Park said during an inauguration ceremony at the Doosan Leadership Institute in Gil-dong, eastern Seoul.<\/p>\n

\u201cWe will create a sound financial structure by successfully finishing the remaining work.\u201d<\/p>\n

Doosan Bobcat, a U.S.-based affiliate of Doosan Infracore, has signed a deal giving its authority to buy and sell the company\u2019s shares to JPMorgan and Korea Investment & Securities in the process of floating the company on the Korean stock market between August and September.<\/p>\n

Doosan Infracore, a machinery manufacturer, also sold off its machine tool business unit to a private equity fund in a deal worth 1.13 trillion won ($967 million).<\/p>\n

Doosan Infracore is considering divesting other non-core assets, such as its French unit, while Doosan Group has put Doosan DST, a defense affiliate, up for sale.<\/p>\n

But it remains to be seen whether the maneuvers are enough to offset the huge losses made by Doosan\u2019s key units.<\/p>\n

Doosan Infracore currently carries over 5 trillion won in debt, affected by a prolonged slump in the construction sector, as a slowdown in the economy has either delayed or canceled big infrastructure projects in regions such as China and the Middle East.<\/p>\n

The market conditions have also dealt a huge blow to other affiliates, including Doosan Heavy and Doosan Engineering & Construction, with combined annual net losses by all Doosan affiliates amounting to 1.7 trillion won last year.<\/p>\n

To combat the situation, the new chairman also vowed to find fresh revenue streams by venturing into promising new business areas.<\/p>\n

\u201c[Doosan] will become the No. 1 player in the fuel cell industry,\u201d he said, \u201cand we will develop the duty-free business into a new growth engine through heavy investment.\u201d<\/p>\n

Doosan Group was chosen as a new operator to run a duty-free store in its Doosan Tower building in Dongdaemun, a popular fashion district in central Seoul.<\/p>\n

Another area of focus was creating a corporate culture that carries the voices and views from workers in the field.<\/p>\n

\u201cIf [a worker or business unit] spots an opportunity on site, we need to take action as soon as possible, because that defines success in the fast-changing business landscape,\u201d he said.<\/p>\n

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]<\/p>\n","protected":false},"excerpt":{"rendered":"

Doosan Group, a troubled machinery and construction conglomerate, has ushered in its new leadership as Park Jeong-won, the eldest son of former Doosan Group Chairman Park Yong-kon, officially took over the group on Monday. The new chairman pledged to complete the ongoing financial restructuring aimed at raising capital in a push to cushion the ballooning […]<\/p>\n","protected":false},"author":1,"featured_media":733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":""},"categories":[2,8],"tags":[460],"yoast_head":"\nNew chief looks at fresh ventures to help Doosan recover - MachineMarket Blog<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New chief looks at fresh ventures to help Doosan recover - MachineMarket Blog\" \/>\n<meta property=\"og:description\" content=\"Doosan Group, a troubled machinery and construction conglomerate, has ushered in its new leadership as Park Jeong-won, the eldest son of former Doosan Group Chairman Park Yong-kon, officially took over the group on Monday. The new chairman pledged to complete the ongoing financial restructuring aimed at raising capital in a push to cushion the ballooning […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/\" \/>\n<meta property=\"og:site_name\" content=\"MachineMarket Blog\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-16T23:59:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/DX140W_iT4_Excavator.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"688\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/machine.market\/blog\/#organization\",\"name\":\"CraneMarket | Cranes for Sale and Rent\",\"url\":\"https:\/\/machine.market\/blog\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2019\/03\/crane-market-logo.png\",\"width\":282,\"height\":81,\"caption\":\"CraneMarket | Cranes for Sale and Rent\"},\"image\":{\"@id\":\"https:\/\/machine.market\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/machine.market\/blog\/#website\",\"url\":\"https:\/\/machine.market\/blog\/\",\"name\":\"MachineMarket Blog\",\"description\":\"Machine News\",\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/machine.market\/blog\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/machine.market\/blog\/wp-content\/uploads\/2016\/04\/DX140W_iT4_Excavator.jpg\",\"width\":1000,\"height\":688},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#webpage\",\"url\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/\",\"name\":\"New chief looks at fresh ventures to help Doosan recover - MachineMarket Blog\",\"isPartOf\":{\"@id\":\"https:\/\/machine.market\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#primaryimage\"},\"datePublished\":\"2016-04-16T23:59:14+00:00\",\"dateModified\":\"2016-04-16T23:59:14+00:00\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/\"]}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#webpage\"},\"author\":{\"@id\":\"https:\/\/machine.market\/blog\/#\/schema\/person\/d55314291bc2800387533231d1e82150\"},\"headline\":\"New chief looks at fresh ventures to help Doosan recover\",\"datePublished\":\"2016-04-16T23:59:14+00:00\",\"dateModified\":\"2016-04-16T23:59:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#webpage\"},\"publisher\":{\"@id\":\"https:\/\/machine.market\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/cranemarket.com\/blog\/new-chief-looks-at-fresh-ventures-to-help-doosan-recover\/#primaryimage\"},\"keywords\":\"Doosan\",\"articleSection\":\"Constuction & Business News,Manufacturer News\",\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/machine.market\/blog\/#\/schema\/person\/d55314291bc2800387533231d1e82150\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/machine.market\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6761c958e8b054582d0855a0e4bc5407?s=96&d=mm&r=g\",\"caption\":\"admin\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/posts\/731"}],"collection":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/comments?post=731"}],"version-history":[{"count":0,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/posts\/731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/media\/733"}],"wp:attachment":[{"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/media?parent=731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/categories?post=731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/machine.market\/blog\/wp-json\/wp\/v2\/tags?post=731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}