Doosan Infracore 2016 Integrated Report
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Doosan Infracore 2016 Integrated Report WINNING TEAM Customer Value Sustainable Growth Smart Solution About This Report 2016 DOOsaN INfracOre INteGrated RepOrt MAnAgeMenT AnAlysis 02 CEO Message 04 Company Profile 06 Business Model 08 Performance Review 2016 Reporting Purpose Disclaimer This is Doosan Infracore’s fifth Integrated Report containing its This report contains details of some future activities, events and annual and sustainability management reports. Doosan Infracore situations based on the company’s plans and estimations of future OuR Strategy OuR RespOnsibiliTy publishes an integrated report to share with its stakeholders financial outcomes, which may turn out to be inaccurate in the event of the processes whereby it generates its financial and non- changes in the global business landscape. The plans and estimations 14 Strategy Overview 46 CSR Structure financial performance results and boosts its corporate values draw upon the best information available at the time of completion generated through the interaction of its diverse Corporate of this report, with due consideration given to future business 16 Customer Value 52 Transparent and Ethical Management Social Responsibility (CSR) activities. Doosan Infracore strives environments as well as the company’s elaborate business strategies. 24 Sustainable Growth 58 Customer Satisfaction and Quality Management to incorporate CSR throughout all business activities and makes Doosan Infracore, therefore, would like to remind its stakeholders that continued efforts to improve its integrated report. this report contains some predictions that may be affected significantly 32 Smart Solution 63 Integrated EHS System due to the risks, uncertainties and other factors involved in the 71 Reporting Process company’s global operations. Shared Growth with Our Suppliers To produce a comprehensive report on Doosan Infracore’s financial 76 Employee Value Proposition Doosan Group and non-financial performance as well as social and environmental ▲ 37 Doosan Bobcat values, various departments related to the company’s strategy, 83 Supporting Development of Local Communities sales, investor relations and communications have participated in its planning. Thirty five working-level teams worked together to compile this Integrated Report, with a focus on performance Appendix results and future plans of the company. 87 Performance Summary Reporting Period 88 Consolidated Financial Statements This report presents quantitative data about the company’s performance during the 2016 calendar year. However, the company’s 92 CSR Facts & Figures qualitative activities mentioned in the report, including the composition of the BOD, include developments recorded until the 97 Independent Auditors’ Report end of April 2017. Reporting Method 98 Independent Assurance Report Reporting Scope Printed Material 100 Global Network This report is mainly on the activities and accomplishments made This report is published in Korean, English, and by the company’s worksites in Korea and China. Some qualitative Chinese to communicate better with our global activities, however, include those undertaken at the company’s stakeholders. overseas worksites. The CSR Facts & Figures section includes the quantitative outcomes of the worksites in Korea for the last PDF three years. Figures on the worksites in China are on activities This report is available in PDF format which can be and accomplishments in 2016, after the execution of the overseas downloaded at www.doosaninfracore.com. worksite CSR roll-out. Contact Us External Assurance This report has been assured by Samjong KPMG, an independent CSR part, Communication, Doosan Infracore assurance service provider, to ensure the propriety and integrity of 23rd Fl. Doosan Tower Building, the reporting processes as well as the accuracy and credibility of 275 Jangchungdan-ro, Junggu, Seoul (04563), Korea its contents. Its Assurance Report is attached in the Appendix. E-mail: [email protected] Doosan Group The oldest and one of the fastest growing in Korea The Doosan Way – Our Beliefs and Philosophy Our Heritage With 121 years of history, Doosan is the oldest enterprise in Korea. It is also a company 2016 Financial Highlights with the great potential, having undergone continuous changes and achieving significant (Unit: KRW billion; based on consolidated financial statements) growth throughout the years. Doosan has continued to grow since its inception. In the twentieth century, it emerged as one of the country’s strongest consumer goods companies dOOsAn CRedO The Doosan Credo is a set of principles that represent Doosan’s philosophies specializing in beer and beverages. At the dawn of the new millennium, however, Doosan and our unique way of doing business. These principles have been the Sales embarked on a massive transformation to become a global company by developing new foundation of Doosan’s success for the past century. The Doosan Credo growth engines and entirely overhauling its business portfolio. Through a series of success- is integral to every aspect of our business and people, clearly guiding our ful mergers and acquisitions, Doosan has completely transformed itself from a consumer 16,410.7 decisions and the way we do business. Through the realization of these goods company into an Infrastructure Support Business (ISB) provider, specializing in a values, Doosan accomplishes its ultimate goal. The Credo consists of Doosan’s wide range of industrial infrastructure such as construction equipment, energy, and produc- “Aspiration” and “Core Values.” tion facilities. Aspiration Operating Income Our Growth Engine Doosan’s ultimate goal is the creation of a “Proud Global Doosan.” Behind the success of Doosan is its unwavering “trust in people.” This was something 917.2 In our Vision, each of our employees and all of our stakeholders will be proud our founder firmly believed in this concept and said, “Investment in people makes the of and benefit from their association with Doosan. Every employee takes great foundation for business.” This belief is well summed up in our 2G Strategy (Growth of pride in being a member of the Doosan team. Each customer recognizes and People, Growth of Business). The 2G strategy has been the driver of our past successes appreciates Doosan’s high-quality goods and services. Every shareholder and will guide us through our journey toward prosperity in the future. At the heart of the values our fair and high levels of profit. Total Assets 2G Strategy is the virtuous circle of “growth of people laying the foundation for the growth Core Values of the company, and the latter leading back to the former.” With its trust in its staff and Doosan people practice the nine core values of the Doosan Credo. continuous investment in human capital, Doosan was able to successfully complete bold 28,664.8 restructuring and innovative business portfolio transformation. Doosan people practice the nine core values of the Doosan Credo everywhere we operate, every day, to build a “Proud Global Doosan.” These values guide Our Future the way we do business, the way we treat each other, and the way we work Doosan hopes to become a “Proud Global Doosan,” with firm belief and trust in people. Total Equity with all of our partners. The nine core values of the Doosan Credo are as “Proud Global Doosan” means becoming a company of which each stakeholder is proud. follows: Our stakeholders include employees, customers, shareholders, and society as a whole. Our 7,900.9 vision is to become a company in which all of our stakeholders can take pride. Cultivating Integrity and People People Transparency Affiliates Infrastructure Doosan Consumer & Auxiliary World-class Support Business Corporation Service Business Organizations Inhwa Customers Technology and Innovation Doosan Infracore Doosasn Corporation Oricom Dongdaemun Future Electro-Materials Foundation Doosan Heavy Industries & Hancomm Construction Doosan Corporation Mottrol Doosan Yonkang Foundation Doosan Magazine Social Safety and Doosan Bobcat Doosan Corporation Glonet Doosan Art Center Profit Doota Mall Responsibility Environment Doosan Engineering & Doosan Corporation Doosan Leadership Institute Construction Industrial Vehicle Doosan Bears (DLI) Doosan Engine Doosan Corporation Fuel Cell Doosan Cuvex Doosan Mecatec Doosan Corporation Neoplux Doota Duty Free Doosan Corporation Information & Communications 2016 Doosan Infracore Integrated Report Management Analysis CEO Message CEO MESSAGE Outlook and Plans for 2017 We will implement our new vision, ‘Global Leader in Infrastructure Solutions,’ and build up a foundation for sustainable growth. Our competitors are all focused on securing a cost advantage amid a difficult market environment, each contributing to fierce price competition. In addition to product competitiveness, they are working on ICT-linked solutions, new technologies, and service differentiation. In consideration of these market movements, Doosan Infracore has adopted a new vision and mid-to long-term strategies. Through these strategies, we seek to continue to expand our business scope as a total solution provider offering top- quality products, better values, and unprecedented customer convenience, thus grow into a global leader in the infrastructure support business (ISB). In 2017, as a way to strengthen our abilities to execute the vision and strategies, we plan to concentrate on the following four tasks. First, we will maximize customer value by offering reliable products and services. We will develop and introduce