“There was the pain of a few large companies slipping away directly after the IMF currency crisis. Now the group has returned to being profitable, and from this year we are thinking about moving away from stabilizing to growing.”

 Meeting Chairman No Hi Pak (72) in his office at the Dowon Building in Dohwa Dong Mapo, Seoul on August 12th he emphasized that this year the Tongil Group will switch to being growth oriented starting this year. Founded in 1963 the Tongil Federation is an organization that presently runs 13 companies. Chairman Pak was inaugurated after Chairman Kook Jin Moon stepped down as chairman last April.

  Chairman Pak emphasized the point of how his role is more one of managing aggressive growth. “We are have the goal of something called vision 2020. Even if we do not accomplish our goals 100% by 2020 which marks the 100th anniversary of the birth of our founder, we will do our best to accomplish the goals Reverend Moon set out to accomplish. The Tongil Group has it mind to give completely of ourselves in supporting vision 2020. To accomplish this we will develop revenues and profits to roughly three times where they are now by 2020. We have plans to implement mergers and acquisitions of other companies.”..... 

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