Vice Chmn. Jang Se-wook of Dongkuk Steel poses with officials who have worked for more than 25 years at an event to mark the 67th anniversary at Dongkuk Steel headquarters. (Photos: Dongkuk Steel)

Dongkuk Steel emphasized the building of a sustainable company through the development of capabilities on the part of its executives and staffers at a scaled-down ceremony to celebrate the 67th anniversary, which fell on July 7.

Vice Chmn. Jang Se-wook said, “Those who grasp changes, internalize them personally and evolve them into organizational competitiveness are Dongkuk Steel’s driving forces.” Personal growth and development are the foundation for the creation of a sustainable company, he said.

Vice Chairman Jang said, “We should not stop reform and improvement to build a sustainable company amidst trends of changes such as ESG management.”

He urged executives and staffers to make strenuous efforts to build a global steel company with top-tier competitiveness, saying, “Current short-term outcomes are not our destination.”

The anniversary event was scaled down due to social distancing guidelines designed to prevent the spread of COVID-19 pandemic.

Each business site held its separate meeting to present long-term service awards under the control of each executive in charge sans large-sized events.

Social contribution activities designed to celebrate Dongkuk Steel’s anniversary were conducted at places such as regional children’s centers.

Dongkuk Steel’s volunteer team, which conducts anniversary volunteer activities on the occasions of the anniversary every year, delivered 160 “DK Happy Boxes,” related to summer vacation to children’ centers and social welfare halls across the nation.

Dongkuk released a video, titled “Crush, Melt and Renew,” on the occasion of the 67th anniversary of its official YouTube channel.

A view of Dongkuk Steel’s premium color steel plate brand “Luxteel.”

Dongkuk Steel Places 1st with a 28.2 Percent Share in Korean Value-added Color Steel Plate Market

Dongkuk Steel’s plant in Busan adjacent to Busan North Port churns out 0.45 mm-thick colored steel plates on the fifth production line.

The steelmaker exports 400,000 tons of colored steel plates to 7,000 companies in 178 countries annually.

Colored steel plates are widely used as outside structure materials, washing machines, refrigerators and other home appliances, so they have emerged as value-added products of steel makers.

The market survey firm Global Info Research reported that the value of the global color steel plate market is predicted to amount to 33 trillion won in 2024, a 37.5 percent jump form 24 trillion won in 2019.

Figures released by the Korea Iron & Steel Association (KISA) showed that the size of the Korean color steel plate market surged to 1.447 million tons last year, a 14.2 percent rise from 1.267 million tons in 2018.

The jump was owed to rising demand from big-ticket structures and home appliances. Competition is heating up in the color steel plate market among Dongkuk Steel, which ranks first with a 28.2 percent market share, KG Dongbu Steel with a 23.9 percent share and POSCO steel with 23.8 percent share.