Sangjin Cable, which does not give in to the global economic slowdown Korean cable manufacturer, Sangjin Cable
Jul 27, 2022, 03:46
Currently, In the Korean cable market, demanding is declining and supply is oversupplied. Sangjin Cable, which is known as a strong company in the cable industry, is also suffering the effects of a recession due to the global economic downturn after the recent Corona 19.
Sangjin Cable, a Korean cable manufacturer that recorded high growth every year, cannot escape. The cable industry is expected to continue its low-growth trend.
The cable industry is an industry that responds sensitively to economic trends. This is because an infrastructure investment plan is established only when the economy expands, and cable demand increases only when various industries such as manufacturing, construction, and infrastructure investment are active.
Accordingly, the Korean cable industry is focusing its efforts on overseas markets.
Sangjin cable, which opened a global generation by pioneering overseas markets as cable manufacturing company, is also struggling to find a new breakthrough in the long-term recession.
Although the situation in the global cable market is not favorable, it does not mean that Sangjin Cable is withdrawn. It responded to customer demand by investing about USD 1M in facility investment and factory expansion.
Sangjin Cable began to solidify its position in the global market by targeting emerging markets, including India, Brazil, Indonesia, Myanmar, Uzbekistan, and Kazakhstan.
Mun Hak-soon, CEO of Sangjin cable, said, “There is no tree that cannot be cut down ten times.” The motto of Sangjin cable is the belief that if it doesn't work even 10 times, it will surely achieve its goal even if it takes 11 shots.
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