Kukdong Electric: An Emerging Company in the Global Customized Transformers Market

[INQ. NO. 2403M10] “We are aiming to relocate to a new factory in the second half of this year. In particular, the first step is to build a factory that can handle the production of large-capacity transformers. We expect to increase the current factory size by more than three times. We have set a production target worth up to KRW 100 billion through the new factory.”
CEO Park Byeong-gil went on to explain that it was founder Chairman Lee Heung-no’s belief in quality and trust that was the key driving force behind the steady growth of Kukdong Electric Co., Ltd, a transformer manufacturing company — not only domestically but also in overseas markets, since its founding in 1993. It is considered that the company not only attempted to change and sought to grow in line with the rapidly changing times, but also achieved its current results through this business philosophy.

Recently, through excellent quality and timely delivery, Kukdong Electric received the Value Innovation Award as a partner of the nation’s conglomerates in transformers.
The CEO added, “Kukdong Electric is a ‘technological innovation company,’ so it is a core strategy to increase the proportion of investment in R&D and focus on technology development. Because we believe that only with good people can a company move in a positive direction, we always emphasize investing in people.”
Kukdong Electric is currently pursuing its plans to relocate to a new factory of 4,000 pyeong, thereby reducing unnecessary losses incurred while simultaneously operating two existing factories, and thus generate sales growth.
Additionally, Kukdong Electric plans to strengthen its competitiveness by relocating to a new factory so that it can provide better services in a modern and expandable space.
CEO Park elaborated further, “We will go beyond the current transformers and handle up to 30 MVA transformers, and in accordance with the relocation plan for the second half of this year, our management goal for this year is to grow by about 35% compared to last year’s sales. However, we think that next year and the year after that, we will be able to continue on the growth path without placing any limits on growth.”
For overseas business, Kukdong Electric is focusing on producing customized products in transformer manufacturing. In particular, CEO emphasized that people from all over the world are looking for its products due to its excellent responsiveness in the non-standard product market.
Finally, the CEO expressed his ambition to continue rising to the challenge of change and innovation and to always strive for the best, with the original intention and passion of being a new company.

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