Founded in 1967 as Daewoo Industry, Co., Ltd., POSCO DAEWOO has played a leading role in Korea's economic development by promoting exports. Renamed as Daewoo Corporation in 1982, the company took charge of its trading business. As a spin-off of Daewoo Corporation, Daewoo International Corporation was founded in 2000 as an independent company, specializing in international trade, project organizing and resource development. Achieving the remarkable development of 30% annual sales growth, it was incorporated into the POSCO Group in 2010, giving it a solid foundation for internal stability. In 2016, the company changed its name to POSCO DAEWOO Corporation, and in 2017 it merged with the steel business unit of POSCO P&S, now leading the path to the globalization of the POSCO Group.
Through over 84 of its global networks, POSCO DAEWOO engages in the trading of a wide range of products from steel, automotive and components, machinery and industrial electronics to non-ferrous metal, food resources, chemicals, commodities and textiles, with both local and international customers. Moreover, POSCO DAEWOO plays an active role not only in the export and triangular trade of industrial machines and equipment, but as a project organizer leading the implementation of overseas projects such as the EPC project and the independent power project (IPP).
POSCO DAEWOO actively promotes resource development projects as one of the driving forces of its future growth. Starting with offshore gas field development in Vietnam in 1992, POSCO DAEWOO has engaged in overseas resource development projects in oil, gas, mineral and food resources, including bituminous coal in Narrabri, Australia and palm oil in Indonesia. Through projects such as these, POSCO DAEWOO continues to establish a solid foothold as a leading global resource developer. In particular, POSCO DAEWOO holds the rights to operate the Myanmar offshore gas field that started its commercial production in June, and takes the leading role in its exploration, development and production. It is estimated that this project will yield a yearly average of KRW 300~400 billion Profit Before Tax over the next 25 to 30 years.
POSCO DAEWOO Corporation
: March 22, 1967
: Kim Young-Sang
: International trade, Project Organizing , New Growth Projects,
Resource development, Steel Processing Services
: 7,991 (1,869 in Korea, 6,122 Overseas Employees)
: 84 in 51 Countries
: KRW 16.4921 trillion (2016)
: KRW 318.1 billion (2016)
MAJOR BUSINESS ACTIVITY
- STEEL & METAL
- MASCHINERY, PLANT, AUTOMOTIVE COMPONETS
- STEEL RAW MATERIAL
- COMMODITY AND AGRO-RESOURSES
- NATUREAL RESOURCE DEVELOPMENT
Armed with the latest information and plenty of flexibility, the people at Posco Daewoo Corporation are creative and innovative. We readily adapt to changing business conditions while forging into the future with the ideas for both personal and corporative success.
The spirit of challenge is essential to Posco Daewoo Corporation personnel, who welcome challenges as opportunities for continued individual and business growth. This pioneering spirit ensures significant progress for everyone.
A corporate entity must offer clients, partners, shareholders and society in general trust and reliability. In turn, corporate and public prosperity depend on honesty and transparency, as well as efficiency and excellence in all operation.