Doosan Heavy Industries Co. celebrated its 50th anniversary on Sept. 19 at its head office in Changwon, South Gyeongsang Province, with the attendance of some 300 key CEOs and executives of the Doosan Group including Doosan Heavy Industries Vice Chairman Park Ji-won, the company said recently.

Vice Chairman Park, in his congratulatory speech at the ceremony, said, “We ought to nurture manpower if we want to continue to prosper for over a century as we have in the first half of our company’s operation.”

The management philosophy taking up personnel as its key management ideas will guide the company’s training of manpower in order to realize the plan to keep going another half century in operation by upgrading the quality of its products and technologies to secure the most competitive advantage over its rivals around the world. He said the company ought to be competitive in many areas of its operations including advanced and scientific methods, processes, and systems.

Since its launch in 1962, Doosan Heavy Industries has led Korea’s heavy industrial development and the localization of power production equipment, making a huge contribution to the development of the national economy especially since its privatization in 2001. It has become a global company that other company’s follow and its success is a model to all in the industry, the vice chairman and CEO said.

In the past few years, the company took over a number of companies overseas including Babcock in Britain, Skoda in the Czech Republic, and Renchez in Germany to emerge as a global company. Vice Chairman Park said the company needs maximized synergy from the diverse members of the group, which can only come from a strong structural culture.

Since the company was privatized in 2001, the company has grown five fold, it has increased its profit eight fold, and its value has grown 15 times. Park said the company has been taking over foreign firms for their technologies and possesses its own list of independent technologies, and now the company looks forward to securing a competitive edge in technology and commodities to post 30 trillion won in sales in 2020 to rank among the 500 top global firms.

To commemorate the occasion, the company published its history in Korean and English titled, “Technologies that Upgrade the Earth’s Value.”

On the sidelines of the anniversary ceremony, the company invited the families of its officers and employees totaling 6,500 and hosted a concert at Changwon Convention Center in Changwon, South Gyeongsang Province, with such well-known performers as Lee Mun-se, Sung Si-gyung, and Park Jung-hyun, with the addition of the Changwon municipal youth chorus and video performance shows.