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JUST SEVEN YEARS after completing construction of a 700,000-square-foot manufacturing plant and producing its first piano and guitar, Sejung Musical Instrument Manufacturing Company is embarking on a capital campaign to improve manufacturing processes and efficiencies. According to newly appointed Sejung president Y.T. Shin, the recent investments are part of a long-term strategy aimed at securing the company a larger share of the world market for pianos and guitars. Shin, who came to Sejung from an executive position at the LG Group, will direct worldwide sales and manufacturing operations for the Quingdao, China-based company.
"The world market may be difficult," said Shin, "but we feel this is a time to make investments in our company with an eye toward providing products of higher value to our customers. Quality systems are being improved at every level, and we are grateful to our thousands of employees and managers who are working hard to make this happen." To date, extensive investments have been made possible by Sejung's parent, a thriving textile, construction, and information technologies businesses based in Korea. Annual sales of the privately owned parent company, which shares the Sejung name, are estimated at about $1 billion.
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The multifaceted nature of the Sejung business is readily apparent to visitors at its new headquarters adjacent to the music factories in Quingdao, China. The four-story building has showrooms highlighting musical instruments and proprietary textile brands. The facility also has a museum that showcases Sejung's 45-year history and an information center that displays a vast network of company-owned real estate holdings, textile factories, and construction projects.
[ILLUSTRATION OMITTED] www.sejungusa.com
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