South Korean Media 'Money Today' Interviews KPF's CFO

(Excerpt from "Money Today" Interview report)

"China is picking up strength at a horrific speed, taking purchase orders from Indonesia and Chile, and speeding up entry into the German wind power market. This year should be the second stage of growth for China," said the CFO of KPF from South Korea. He turned the Vietnam and China subsidiaries from deficit into profit gains, completely wiped out stock risks, and successfully reorganized ill-performing overseas subsidiaries. "Next we will span out from Asia and increase market shares in Europe and South America to become a comprehensive company." 

KPF, the maker of bolts, nuts and automotive bearings, went public on stock market in 1994. Its first quarter revenue of 2017 is KRW 91.5 billion, up 10.83%; operating profits at KRW 3.97 billion, up 0.28%. The total revenue of 2016 was KRW 340.2 billion and the operating profits at KRW 14.7 billion. The CFO said, "We expect our revenue to reach KRW 500 billion in 5 years, so the overseas subsidiaries will have to reach KRW 100 billion revenue per year."

The net profits for the Vietnam and China subsidiaries started to turn from deficit into profit gains since the first quarter of this year, with the most apparent growth with the China subsidiary. The CFO said this is attributed to highly stable product offering and punctual delivery. "Our product quality is higher than China local companies', and our shipment is on time. This is the stepping stone to our success." KPF has started construction of the plant in Hanoi City (capital of Vietnam), and is setting up an office in Ho Chi Minh City. In June 2017, KPF will send in staff there to officially expand operation in Vietnam.

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