|By Seunghyun Lee, AVING News
March 31, 2008
Citus (CEO Lee Joon-Pyo http://www.citus.co.kr/), the navigation software specialist, said that it would go full steam ahead this year to make inroads into overseas markets, including China and Australia.
KRW2 billion out of total sales of KRW8 billion came from foreign markets last year, and this year Citus is aiming to derive KRW10 billion, i.e. half of its projected KRW20 billion of sales, from overseas markets.
Since the early years Citus has been paving the way for penetrating overseas markets. Last year it produced good results in China and Australia, and is doing business in a number of countries such as Taiwan, Vietnam, Europe and North America.
"It is difficult for domestic software companies to record sales of more than KRW10 billion in the domestic market alone," said a Citus official. "We are planning to aggressively penetrate overseas markets and reach the KRW20 billion sales mark, with the proportion between domestic and overseas markets being 50:50."