Dongkuk Holdings, Dongkuk Steel and Dongkuk CM — the three companies spun off from Dongkuk Steel Group - held a ceremony to mark the 69th anniversary at Ferrum Tower, Dongkuk Steel Group headquarters, in Eulji-ro, Seoul, on July 6.
Dongkuk Holdings, the surviving entity, retained the anniversary day on July 7.
Newly inaugurated companies Dongkuk Steel and Dongkuk CM have set the same anniversary day, inheriting the spirit of Dongkuk Steel’s founding.
Dongkuk Holdings held a ceremony to award long-time serving employees and share greetings on the occasion of the anniversary.
Vice Chairman Jang Se-wook of Dongkuk Holdings said, “Celebrating the anniversary day for the first time under the new names takes on a new meaning, and it takes resemblance to what was launched with 40 people in Dangsan-dong in 1954.”
“You, the first seniors of Dongkuk Holdings, and you have to make efforts on your own and have a competitive edge, to be remembered as meaningful seniors,” Vice Chairman Jang said.
In his speech at a ceremony to award long-serving employees on the same day, CEO and Senior Executive Vice President Choi Sam-young of Dongkuk Steel said, “We’re standing at a new starting line, and we now have to concentrate our capabilities to raise the competitiveness of our company on our own.”
He called for exploring new growth momentum and making strides based on “Steel for Green” strategies without fail.
CEO and Senior Executive Vice President Park Sang-hoon of Dongkuk CM, said, “The reason why bamboos grow higher compared to thickness is that they have joints, and we have to make preparations and execute them so changes can serve as foundations for new growth.”
“Dongkuk CM will make efforts to offer a better environment and opportunities so our company, executives and staffers can growth,” he added.
Dongkuk Steel conducted volunteer activities on the occasion of the anniversary day.
Five operations, including the headquarters, held diverse volunteer activities, such as outreach programs targeting regional children centers and wall papering assistance for typhoon victims.
Dongkuk CM plans to prepare health foods targeting neighborhood welfare centers to brace for an unusual heat wave, as part of efforts to promote shared growth with regional society.
Dongkuk Steel Split into 3 Companies: Dongkuk Holdings, Dongkuk Steel and Dongkuk CM
Dongkuk Steel Group officially split on June 1 - Dongkuk Holdings, a holding company of the business group; Dongkuk Steel, prioritizing the hot-rolled business; and Dongkuk CM, a maker of cold-rolled steel products, including color steel, establishing a two-top structure with Chmn. Jang Se-Joo and Vice Chmn. Jang Se-wook.
Dongkuk Steel Group held a board of directors’ meeting for each of the three companies at the Ferrum Tower, Dongkuk Steel headquarters to approve the establishment of a holding company structure.
Dongkuk Holdings appointed Vice Chairman Jang Se-wook to be the chairman of the board of directors.
The location of Dongkuk Holdings headquarters is retained at Ferrum Tower, and disclosure of branch offices was approved to hand over worksites to related companies.
Vice Chairman Jang Se-wook plans to come up with the group’s future growth strategies at Dongkuk Holdings, a strategy control tower of the business group, with Chairman Jang.
Jang Se-joo returned to management after an eight-year hiatus.
The two brothers plan to explore synergies in steel raw materials, parts and equipment sectors and expand the business portfolio of the group’s related businesses, such as IT and logistics, Dongkuk Holdings said.
Senior Executive Vice President Choi Sam-young was appointed to be CEO and chairman of the board of directors of Dongkuk Steel.
Dongkuk Steel CEO Choi plans to accelerate efforts to upgrade an eco-friendly electric furnace as a core strategy of the initiative “Steel for Green.”
Senior Executive Vice President Park Sang-hoon was appointed to be CEO of Dongkuk CM. Two worksites — Busan plant and Doseong Center — was approved as branches of Dongkuk CM.
Dongkuk CM CEO Park plans to prioritize the establishment of selling 1 million tons of color steel products globally in accordance with the “DK Color Vision 2030.”
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