Dongkuk Steel celebrated its 62nd anniversary on July 7 at the Ferrum Tower in downtown Seoul. Vice Chairman Chang Sae-wook, in his congratulatory speech at the ceremony, called for the steel maker to continue to prosper on the occasion of its centennial under the steel maker’s slogan “Rich Nation And Powerful Soldiers,” drawn up to reach the goal. He said “Rich Nation” meant the company should look for its future growth engines and the Powerful Soldiers” is meant to train every employee of the company to be competitive. He called on all of the company’s employees to think about the future of the steel maker through creative communication.
The vice chairman and CEO said the steel maker proved its capability by successfully graduating from the financial structure reform agreement and putting online the CSP Steel Plant in Brazil.
The steel maker graduated from the financial structure reform agreement with preemptive reform moves and got a “stable” credit evaluation from credit firms in recognition of its improved operation and future stability.
The steel maker unveiled its slogan, “Another Spark, and Another Future,” at the ceremony, which means the start of a new beginning for the steel maker following the dedication of its plant in Brazil on the occasion of the 62nd anniversary.
The Nanumjiki social service team conducted social service programs in the cities and towns where the steel maker’s units are located, including steel plants centered around the Seoul head office, Pohang, Incheon, Busan, and Shinpyong. They visit welfare centers, children’s centers presenting lunch boxes, free meals and take the children to theme parks, among other activities.
“Dongkuk Steel’s craftsmanship — ‘producing masterpiece steel’ — is the biggest motivation that drives us to manufacture high-value products,” the company says. “The R&D Center established in 2005 is the heart of research and development of Korea’s steel plates, sections, and reinforcing bars.”
The Dangjin works operating since 2010 is the advanced base for top quality steel plate production. The eco-friendly Incheon Works has started the operation of the Eco-Arc electric furnace in 2010, and a top of the line high tech rolling mill in 2012 to produce top quality reinforcement bars.
Dongkuk Steel is producing best quality products at each of these sites.
In 1965, Dongkuk Steel had as the first Korean private enterprise, started the operation of a blast furnace. Dongkuk Steel is also the first enterprise that installed an electric arc furnace (1966), and a DC electricare furnace (1998) in Korea.
Dongkuk Steel was not satisfied with accomplishments of the past, and continued with the “firsts.” KS certification of high-strength reinforcing-bars (2009); completion and operation of environmental friendly eco-arc furnace (2010); KS establishment of earthquake resisting reinforcing bars (2011); construction of CSP in Brazil (2012); and more are examples of the “firsts” which Dongkuk Steel established recently.
Dongkuk Steel was established as Daegung Industries in 1929.
In 1954 Chairman Chang Kyung-Ho founded Dongkuk Steel in Seoul; he subsequently built a large-scale plant in Busan (726,000m2), which eventually became the base for the company. Dongkuk Steel produces cold-rolled laminated steel plates, galvanized steel plates, galvalume steel plates and colored steel plates.
Dongkuk Steel entered into a JV agreement with Brazilian miner Vale in late 2009 to build the $4 billion Companhia Siderurgica do Pecem (CSP) steel mill. Touted as the first integrated mill with a coking plant in northeastern Brazil. The project is located on a 1,000ha site in the Pecem industrial and port complex (CIPP).
In 1963, Dongkuk Steel relocated its main plant from Busan to Pohang and donated 10 billion won.
In recognition of such work, Songwong Cultural Foundation was established in December 1996 to give back to the local community.
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