SEOUL -- Doosan Group is selling off non-core businesses to focus on its electronics unit, according to reports.
The conglomerate's printed circuit materials business projects 2021 operating profits will rise 17% from a year ago to 114.6 billion won ($99.9 million) on higher demand. It reported sales of 816.1 billion won last year.
Doosan forecasts electronics unit sales will rise to 2 trillion won by 2025, about 1.15 trillion won from laminates and 950 billion won in sales from new growth from displays, electric vehicle (EV) components and energy materials.
As part of a debt reduction plan, Doosan has sold its industrial and construction equipment units, which were responsible for a combined 44% of its operating profits, leaving the electronics, retail and hydrogen businesses.
Electronics now brings in 69% of the company's overall operating profit, up from 39% before the divestitures.