We will grow as global leaders of the world MRO market, with the cooperation of 300 small-medium affiliates in aggressive marketing towards foreign markets from this year on.
CEO Man-Young Hyun (54) of iMarketKorea, the biggest MRO Company in Korea , is rather busy lately working to make iMarketKorea a global leader in the world MRO market. With know-how gained from performance in the domestic market, and cooperation from affiliates, he has plans to launch a major offensive in the foreign market.
Already in January this year, they have agreed to a business affiliation on item sourcing with the Japanese company, Smitomo. This is following affiliations with SESAMi in Singapore and Com2B in Taiwan .
As well, they have plans to create an on-site branch in Malaysia and India following the establishment of a branch in China in 2001. CEO Hyun stated that the company will create an Asian MRO market network with Korea , China and Japan as the central nodes connecting out to India and Malaysia .
Plans such as these are Hyun's response to complaints that iMarketKorea has been limiting their growth potential by relying too much on Samsung affiliates since their establishment in 2000. While iMarketKorea is currently exporting to 12 countries, including China and Thailand , the sales amount from these is not even 5% of total sales.
iMarketKorea is acting as the agent for selection, purchase and storage maintenance of over 300,000 resources, including various consumables and office products, for 500 domestic companies that include Samsung affiliates Dongkuk Steel and Haitai Bakery. The transactions are all done through B2B on the Internet.
CEO Hyun emphasized that unlike the domestic MRO market, the markets of other Asian nations have only just reached the establishment stage and that the company will concentrate on aggressive planning to occupy the Asian market. iMarketKorea has a target of 55 million foreign market sales this year.
On the basis of success in these markets, Hyun plans to expand to the US and Europe next year. The reason for iMarketKorea's concentration on the foreign market is the heating up of global competition in the MRO market. CEO Hyun said that international consulting companies such as Accenture and AT Kearney are entering this business, mainly targeting the Asian market. CEO Hyun has plans to reach sales of 1 trillion won next year, as well as passing 900 billion won this year, and through aggressive globalization the company hopes to become a global corporation of the MRO market by 2010. |
We will be a pioneer in the foreign market, with 300 small- medium businesses, and become leaders of the MRO market 
