Vice Chmn. Chang Sae-wook calls for the change to prepare for 52-hour work week and also on occasion of the steelmaker¡¯s 64th anniversary this year
Vice Chairman Chang Sae-wook of Dongkuk Steel is seen at a ceremony to celebrate the 64th anniversary of the steelmaker on July 6.
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Vice Chairman Chang Sae-wook of Dongkuk Steel called for a change in the working style on the officers and employees on the occasion of the steelmaker¡¯s 64th anniversary on July 6 as the steel maker has to adopt the 52-hour weekly working system as the new corporate law calls for.
At a ceremony to mark the founding anniversary at the steelmaker¡¯s Ferrum Tower in Eulzi-ro, downtown Seoul on July 6, what the vice chairman wanted in his congratulatory speech was breaking up the current working system and start a new one not only because of the new working hours, but the need to change the working system due to the U.S. charging high tariffs on foreign import steel products and less demand for steel in the shipbuilding and construction industries hit hard by economic downturn, among others.
Chang said, ¡°All of your should forget about the night shifts, which became a regular shift almost after so many years of working on them and revert to a culture that sees the 9-5 regular work shift as the ordinary one.
He said all of them should throw away the unnecessary work and do the work that will boost the growth of the company. They should be the specialist on at least two areas of work as a multi-specialist as they grapple with challenges ahead, the vice chairman said, adding that the age calls for the people with diverse talents and experts on more than two areas of work.
The vice chairman¡¯s call for change is not unrelated to the steel maker¡¯s deteriorating operation results in recent years. The downturn in the shipbuilding and construction industries led to reductions in the sales of steel products needed by those industries, namely steel plates and steel rods, curtailing the growth of the steel maker. Its operating profit in the Q1 this year fell 64.3 percent to 20.6 billion won.
Chairman Chang Sae-joo has been hard at work to improve the steel maker¡¯s operation since his temporary release in April from jail. He was said to have ordered the reorganization of the company including the establishment of a new office, the Chief Operating Officer(COO), a presidential level office with Managing-Director Kim Yon-kuk named to take over the new position.
Dongkuk Steel¡¯s craftsmanship-¡®producing masterpiece steel¡¯ - is the biggest motivation that drives us to manufacture high-value products. 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 has 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, the pioneer of steel industry, was not satisfied with glories 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 many more are the achievements of many ¡°Firsts¡± which Dongkuk Steel has establ.
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A view of Dongkuk Steel¡¯s head office building in Eulziro, downtown Seoul. (Photos: Dongkuk Steel)
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