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Sangsangin Industry, Expecting to Turn Profitable This Year... Considering Introducing Singapore A/S Base

NSP NEWS AGENCY, By Soon-ki Lee and Soo-in Kang, 2023-10-26 19:58 ENX7
#SangsanginIndustry #Profitable #Singapore #AS Base

(Seoul=NSP NEWS AGENCY) = Sangsangin Industry expressed confidence in turning a profit within the year. In addition, it is also considering entering new businesses by establishing overseas A/S(after service) bases.

Kim Dong-won, CEO of Sangsangin Industry, said, “Until last year, we had a large deficit due to low-price orders and rising labor costs,” and “It is predicted that we will be able to turn a profit this year as stable operations are possible.”

“In the long term, we believe we can achieve a sufficient operating margin of more than 5 per cent, and possibly up to 10 per cent,” said Kim.

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In addition, Sangsang Industry is also pursuing a new business related to after-sales service. It is establishing an A/S(after service) base in Singapore, which is a major transit route for overseas ships.

In fact, the profit generated through paid A/S after the free A/S period ends is greater than the profit generated during newbuilding. According to Sangsangin Industry, overseas shipping companies believe that they will be able to save costs and time by using the Singapore A/S base.

“We are currently reviewing overseas laws and regulations, supply and manpower chains, etc. for the Singapore A/S base,” said Kim Dong-won, CEO, and added, “We expect it to be operational as early as next year.”

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