Kumho Industrial aims to increase overseas orders this year

SEOUL, Feb. 17 (Yonhap) -- Kumho Industrial Co., a construction unit of the
ailing Kumho Asiana Group, said Wednesday it aims to win overseas orders worth
over 1 trillion won (US$874 million) this year as part of an effort to ride out a
severe cash shortage.
The overseas target set by Kumho Industrial, which was put under a debt
restructuring program late last year, accounts for 27 percent of its overall new
order target for this year, the builder said.
Kumho Industrial is targeting 3.7 trillion won in overall new orders this year,
the builder said. It won new orders worth 4 trillion won last year, with its
overseas orders posting 350 billion won.
"We plan to win new overseas orders in countries like Vietnam where we have
already established a presence," said Jang Bok-sang, a senior official at the
company.
Kumho Industrial said Tuesday in a regulatory filing that it has clinched a
$101.3 million deal to build a commercial and residential complex in Ho Chi Minh,
Vietnam.
"We will launch brisk activities to gain overseas orders, which were in the
doldrums after we went under a debt rescheduling scheme, on the back of the
Vietnam order," He said.
Earlier this month, creditors of Kumho Asiana decided to lend 280 billion won to
Kumho Industrial to help the company get back on its feet.
ksnam@yna.co.kr
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