Soo-tae Lee, the chairman of Panasia,

"Active development of alternative energy technologies" 

"By concentration and choice, I will focus on the business Panasia can do best." Soo-tae Lee, the chairman of Panasia, said that he will speed up the development of eco-friendly facilities and alternative energy technologies on Oct. 12.

Panasia is an eco-friendly company founded in 1989. It has established a portfolio of eco-friendly products that are specialized in improvement of atmospheric environment and water treatment.

Their main product is called BWTS (Ballast Water Treatment System) that helps discharging water without pollutants. In addition, there is a scrubber that reduces sulfur oxides generated from the ship's engine and boiler. Panasia was selected as one of the top 100 small hidden businesses in materials, parts, and equipment last year.

"Since I started my business with a small capital, I have focused on developing core technologies," Chairman Lee said. "At that time, I challenged eco-friendly facilities due to regulations by the IMO."

"Today, the global environment has problems such as fine dust, excessive carbon emissions, and abnormal temperatures," he said. "We will focus on developing alternative energy technologies."

Lee seeks a 4先 management strategy. It is a strategic management that identifies and preoccupies the market perfectly through Prescience, Proactive, Preemptive, Preoccupancy. Panasia’s sales have been growing rapidly since last year.

In 2019, sales and operating profit reached 328.5 billion won and 71.5 billion won, respectively, up to 474 percent from the previous year.

In the first half of this year, sales and operating profit reached 1985 billion won and 58.2 billion won, respectively, up to 149 percent and 353 percent from the same period last year.

He said, "The faster development of related technologies than our competitors led to higher sales growth." Also he will focus on developing hydrogen energy in the future. This is because ‘hydrogen’ is the next future energy.

It already started its hydrogen business two years ago. This year, it exchanged MOU with Daejeon City, Daejeon City Corporation, and Korea Carbon Dioxide Collection and Processing R&D Center. We are testing a prototype of a hydrogen reformer and plan to complete the certification by this year.

"The government has announced the expansion of hydrogen charging stations and the supply of hydrogen cars," he said. "Therefore, there will be a lot of demand for hydrogen generator." He added, "The main purpose of the business is to develop products and technologies that satisfy customers rather than making a lot of money," adding, "We will become a global hidden champion by becoming a global eco-friendly energy company."