Woongjin Think Big was established in 1980 as Woongjin Publications, and focuses on educational materials for people of all ages, including study books, complete collections, single works, after school learning materials, textbooks, and online contents. Divisions of Woongjin include Educational Culture Business, Future Education Business, School Culture Business, English Educational Business, Middle School Education Business, and Research & Development Division.
Woongjin Holdings has recorded 10% average growth in the 31 years since its founding, and portrays itself in a company brochure as the “only Korean company established after 1970 to grow into a full sized conglomerate.”
Since 2006, the company has been involved in the development of globalization centers within its English Education division, which operates 9 branches and 17 franchizes. The division employs 250 native speakers alongside 9000 Korean teachers in all parts of the country.
Woongjin Think Big includes educational brands Woongjin Knowledge House, Leader’s Book, Woongjin Junior, Gallion, Start, Walking Tree, and Penguin Classics Korea.
Key Company Developments in 2012
According to the financial report for fiscal year 2012, Woogjin Think Big reported declining revenues for the third year and a net loss.
Woongjin Holdings includes four affiliates, notably Woongjin Coway (with earnings of 1.71 trillion KRW, and profits of 14,2 %); Woongjin Chemical (1.08 trillion KRW and 11 % profits); Woongjin Energy (313,4 billion KRW and 6.4% profits); and the publishing arm of Woongjin Think Big (revenues of 775.9 billion KRW, down 2.1 % from 792.7 billion KRW in 2010, and profits of 4.2%, down from 8.4% in 2010).
At Woongjin Holdings, a strategic vision has been defined for 2015, aiming at 15 trillion KRW of sales, and 2 trillion in operating income.
Ownership, Mergers & acquisition, Internal Organization:
Upon celebration of the company's 30th anniversary, WoonjIn formulated a new “vision” for the company.
The strategic vision for 2015 includes global expansion for education.
Bestselling Authors & Titles:
The newly-launched Think U (on-off blended learning tool) should drive business and make a profit turnaround.
Key Points for Analysis & Conclusions: