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The South Korea-headquartered conglomerate will be active in expansion of the Chinese market and will enlarge the existing construction machinery business while adopting diversified operational strategy in the country. It plans to build a new machinery company in East China to develop new-type construction equipment and to seek cooperation opportunities in the west of the country.
For the next five year, it will intensify investment in the field of logistics, iron and steel, engineering machinery and new energy and move its R&D base in South Korea to the country. Besides, it is showing interest in China's aircraft manufacturing industry and hopes to take part in the industry as an ordinary investor or strategic investor.
The company, which entered the Chinese market in 1990s, achieves USD 1 billion sales revenues from the country every year, or one sixteenth of its total amount.
From www.cnstock.com, Page 1, Thursday, July 03, 2008 info@SinoCast.Com
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