Full text of GMB Korea's New Year's address in 2025
Dear GMB executives and employees!
The new morning of 2025 has dawned. I wish you good health and happiness in the year of Eulsa.
2025 is the Year of the Blue Snake, and since ancient times, the snake has been seen as a symbol of wisdom and change, representing the power to create new challenges and opportunities.
GMB executives and employees hope that you will achieve all you wish by receiving the positive energy of the blue snake, and that you will have a year full of harmony and happiness at home.
Looking back on 2024, the environment of the automotive market has changed rapidly due to slowing global economic growth, inflation across industries, electric vehicle industry, growth of the Chinese automotive industry, and the offensive of low-cost parts
There were difficulties in the internal and external business environment, but due to the maintenance of sales of electric products such as EWP and ITM due to increased demand for hybrid vehicles, and the increase in Valve Spool sales due to the strong North American automobile market
Annual sales are expected to exceed 650 billion won in 2024.
This achievement can be attributed to the solidarity of all executives and employees, including cost reduction, productivity improvement, and preemptive response to changes in the external environment despite internal and external crises.
Once again, I would like to express my deep gratitude to the executives and employees for their hard work in developing the company.
The revenue target for 2025 was set at KRW 702.4 billion, 6% growth from 2024.
In the new year, the global business environment is facing difficulties due to the solidification of low growth, the launch of the Trump administration, the uncertainty of electric vehicle sales and subsidy policies, strengthening protectionism, structural changes in global supply chains, and the entry of Chinese electric vehicles into Korea.
In preparation for this uncertainty, we believe that GMB will be able to achieve this year's management goals even in the rapidly changing internal and external market environment if we strengthen our internal stability through fierce cost reduction, productivity improvement, and cost reduction activities.
Dear executives and employees!
In line with the growth of the eco-friendly automobile industry, EWP and ITM's sales are expected to exceed 200 billion won in 2025, and GMB's achievement of 1 trillion in sales will come true as it is accelerating the mass production of various eco-friendly electrification parts such as the Electric Oil Pump, the Active Purge Pump, and the Coolant Hub module.
GMB built and opened a new technology research institute in October 2024 to strengthen its R&D capabilities through preemptive R&D investment and talent development to secure a competitive advantage over electrified parts.
In addition, the GMB INDIA Corporation was established to localize and expand its position in the emerging Indian market as an emerging market for automobiles.
For existing items that have been the basis for GMB growth so far, we will continue to restructure our business and make supplementary investments in line with changes in the market to maintain competitiveness and improve profitability.
Dear executives and employees!
Based on Harmony, GMB's management ideology, let's all work together to become a sustainable company by securing technological competitiveness and cost competitiveness through collaboration among GMB members, harmony with technology, and harmony with local communities in the crisis of the changing global market and uncertain and unstable internal and external management environment.
Finally, I once again wish your families full of health and happiness in the new year of 2025, and I would like to replace my New Year's address with the hope that it will be a year where all the dreams you wish will come true.
Happy New Year.
January 1, 2025
GMB Korea Co., Ltd
President Song Byung-young