Donghae and Yeongwol factories to form dual-hub operations
Cement maker KGM C&E will relocate its headquarters to Donghae, Gangwon Province, where its main factory is located.
The company held an extraordinary shareholders' meeting at its Seoul headquarters Wednesday and approved a resolution to change its registered address from Seoul to Donghae, Gangwon Special Self-Governing Province. The Donghae factory will take over headquarters functions starting in December.
The company also plans to concentrate its environmental business operations at the Yeongwol factory, establishing a dual-hub structure centered on Donghae and Yeongwol. KGM C&E said the relocation is aimed at responding more nimbly to rapidly shifting market conditions, including a prolonged slump in the construction sector, and represents a management overhaul to sharpen competitiveness across both hubs.
"By redistributing management support and environmental business functions to Donghae and Yeongwol, where our production facilities are located, we will improve on-site responsiveness and accelerate decision-making," the company said. "We expect this to raise the efficiency of production and logistics operations, and we plan to strengthen cost and quality competitiveness while enhancing customer service."
freiheit@heraldcorp.com
