SEOUL, KOREA - Dongbu Daewoo Electronics announced on November 21 that it will expand cooperation with China’s major home appliance company Galanz.
Lee Jae-Hyung, vice chairman of Dongbu Daewoo, held a meeting with Galanz’s top management, including its chairman Liang Zhao Xian, at Dongbu’s headquarters building on the day. They exchanged views on how to expand the range of their mutual cooperation.
Dongbu Daewoo achieved successful landing in China’s air-conditioner market this year through cooperation with Galanz. Dongbu hopes to expand its cooperation with Galanz toward the areas of washing machine and refrigerator in the future.
Lee of Dongbu Daewoo stressed, “If Dongbu’s strength in product technology and global network is combined with Galanz’s home appliance manufacturing prowess, we could continue to grow despite the global recession.
Founded in 1978, Galanz has 13 subsidiaries and more than 40,000 employees, with its annual sales estimated at about 8 trillion won last year.