All surrounding people regarded that photovoltaic project was over. The massive government subsidy support for developing solar power was lost after 2008 global financial crisis. Chinese companies which had a competitive price produced below-cost products. Most domestic solar companies had to close their factories.
However, Lee Wangeun who is the chairman of Shinsung Solar Energy had different ideas. He increased investment in solar cell and module technology even though there are the loss of one hundred million won since 2011. He also raised production capacity through capital investment. He showed his enthusiasm by saying that the solar business is now beginning. This was a time that there is an opportunity in crisis. “I was always suffered a major crisis to achieve the outcomes in new fields such as semiconductor clean room and process automation equipment.” he said.
Thanks to the 'endurance' of the chairman of the Shinsung Solar Energy has provided an opportunity for reversal of last year. The Shingsung Solar Energy won a three-year long-term supply contract from the US representative solar company,
Sunedison. They sold over 200 billion won to Japan which have invested in light of the sun a lot since the accident of a nuclear power plant.
The factory which had a half rate of operation has operated around the clock since May 2011. The chairman said, "This year seems to make a profit in five years." We met the chairman at exhibition of ‘World Smart Energy’ in Tyoko Big Sight, Japan last month 26.
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