We`ve been unable to make it to overseas markets for the past 10 years because of poor sales and operating profit. It's changed since last year, and I'm doing my first U.S. corporate briefing, as I expect it to get better this year."

Hite Jinro President Kim In-kyu said in a meeting with correspondents in Manhattan on Thursday (local time) that he visited the U.S. for the first time for IR purposes since he took office in 2011. Although the chief financial officer and others have conducted IR overseas, this is the first time for Kim to directly manage IR in the U.S.

Since Hite Jinro established a new base for growth last year, it is planning to actively promote its businesses to foreign investors such as the U.S. starting this year. Last year, Hite Jinro succeeded in a turn-around, surpassing 2 trillion won in sales for the first time in seven years. Sales at Hite Jinro reached 2.35 trillion won in 2019, up 7.9 percent from a year earlier. "I came to the U.S. for IR in my 10th year as president," Kim said. "Since the company is not well-known, foreign ownership in Hite Jinro is low in the 10 percent range, and my goal is to boost it." At the IR, Kim plans to meet with foreign institutional investors to actively attract investment by raising awareness and enhancing understanding. Above all, it is planning to highlight current situations in South Korean markets, including 'Tera' and 'Jinro', which were released last year, and 'Philite', which has recently been receiving renewed attention, and trends in overseas markets.

The upcoming IR schedule in the U.S. is scheduled for New York on Wednesday, Boston on Wednesday, Salt Lake City on Tuesday and San Francisco on Monday.

This year's main management goal is to return the beer business, which has been in the red for five years, to the black this year, Kim said. Regarding the soju sector, he said, "The market share dropped to 47 percent in 2012 and rose to 60 percent last year." He added, "We have become a firm No. 1 player in Korea, but we will not be satisfied with it."

Regarding the reason for the poor performance, Kim said, "I have not read the market and consumer trends so far," adding, "I have worked hard to get another chance."