Korean cable carriers manufacturer, Koduct turns COVID-19 crisis into opportunity Koduct overcomes difficulties and strives for overseas expansion
Nov 18, 2020, 07:05
The more the recession is, the more entrepreneurs there are to turn the crisis into an opportunity. This is because it is believed that companies can survive only through investment and R&D overcoming difficulties.
Shim Sul-jin, CEO of Koduct, a manufacturer of cable carriers, which is an electric wire protection device, is also one of the entrepreneurs who consider the word 'crisis is an opportunity' as truth. The CEO said, "It is said that this year is more difficult than ever with COVID-19, but Koduct will take this opportunity to expand its overseas market share."
Since its establishment in 1986, Koduct, which has been making cable carriers and contributing to the development of related industries in Korea, has been making a product called cable carrier that was difficult for any domestic company to touch for about 5 years. After constant research, Koduct succeeded in localization for the first time in Korea in 1991. Koduct is supplying it to the domestic and overseas markets.
The cable carrier, the flagship product of Koduct, is unfamiliar to the general public, but is widely used in industrial sites as a device to protect wires that supply power to various devices such as factory facilities, equipment, ships, and automobiles. The CEO said, "Of course, there cannot be without the aftermath of the recession, but we believe that there is an opportunity in it."
In particular, the fact that flagship products are relatively less affected by the economy is believed to Koduct. "The product is so diverse, and it can be applied to various fields such as automobiles, ships, industrial equipment, and factory facilities," said The CEO. "Even if a specific industry is in a recession, it is possible to grow if it runs to increase sales in other fields."
Currently, more than 80% of Koduct's cable carriers are used for automation facilities in the domestic shipbuilding sector, and more than half of global automakers such as Hyundai, Kia, Renault Samsung, and Ssangyong Motors.
The CEO is particularly emphasizing exports. "Small and medium-sized companies often give up at all due to lack of funds and manpower, although exports are of great help to their growth," said The CEO. "If we work together, it is not impossible to develop overseas markets."
For more information on Koduct, please visit www.koduct.com
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