Dobu Mask pioneers differentiated markets by exporting to EU, Japan, and the US
Korea Economic TV 3/23/2021
Dobu Mask Co., Ltd. recorded sales of 124.1 billion won, operating profit of 34.1 billion won, and net profit of 26.4 billion won last year thanks to the pioneering of the mask export market. The operating profit margin was 27.4%.
Last year, when there was a shortage of masks in Korea due to COVID-19, Dobu Mask focused on exporting rather than the domestic market. Upon completion, it was able to achieve over 100 billion won in sales. In addition, unlike the KF mask market, which is currently experiencing difficulties due to falling prices, it was found that it was possible to maintain high profitability due to the export-oriented business structure.
Although the market demand for Dobu Mask was overflowing in Korea last year, it took a different step from domestic mask companies as it pioneered a new market. As a result, Japan's Ministry of Health, Labor and Welfare and the California state government of the United States concluded supply contracts, and completed supply of masks to most developed countries, and received worldwide recognition for the quality of masks. Utilizing these references, this year, N95 masks are the main focus, and they entered the export road in earnest, and performance comparable to last year is expected.
In addition, the company is expected to have the effect of further enhancing cost competitiveness by internalizing the production of melt blown filters, an essential raw material for mask manufacturing. It is expected.
Donghyuk Kim, CEO of Dobu Mask, said, “There are many people who are concerned about the market after COVID-19, but there are many views that are concerned about the short boom in the mask market, but since Dobu is a New Entry in the global N95 market, it is highly likely to enter a new market and increase its share In particular, in the case of the US, which is the main market, considering that about 70% of sales last year were filled with products imported from China, etc., Dobu Mask's maintenance of growth by expanding its market share will definitely be different from other domestic mask companies. will," he said.
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