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GS Group chairman Huh Chang-soo |
GS Group said Tuesday it will make its biggest-ever annual investment of 3.1 trillion won ($2.7 billion) next year in energy, retail and construction businesses, targeting record sales of 7.5 trillion won, up 10 percent from this year.
The 48 percent increase in investment compared to this year’s 2.1 trillion won will reinforce the conglomerate’s major businesses and solidify a base for sustainable growth, GS said.
In the energy business, GS Caltex Corp., the group’s key affiliate, GS EPS Co. and GS Global Corp. will spend 1.8 trillion won to build a fourth heavy-oil processing facility, a third power generation unit and expand its presence in oil and soft coal exploration.
GS Retail Co. plans to invest 600 billion won to increase convenience stores and to bolster the overseas business of its online shopping mall GS Shop.
Another 700 billion won will be poured into new businesses of GS Engineering and Construction.
GS Group said it will hire 2,900 new people next year including 750 who just graduated from universities and 250 high school graduates. It recruited 2,800 including 700 fresh college graduates this year.
GS Group chairman Huh Chang-soo recently called on his employees not to be swayed by the global economic jitters and to build a system for sustainable growth that can deal with changes in a timely manner.
By Kim So-hyun (
sophie@herald.com)
