POSCO International
POSCO INTERNATIONAL (포스코대우) is Korea's largest trading company and a subsidiary of POSCO. The company was founded by Kim Woo-choong in 1967 as Daewoo Industrial Co., Ltd, which ran its business in trading and construction. In 1999, the company faced at least $50 billion in debt, Daewoo became formally dismantled.[2] In 2000, as Daewoo Group faced work-out program, Daewoo Industrial Co., Ltd's trading segment was split and established as Daewoo International Corporation. Afterwards, it succeeded general trading license and was listed on stock market back again. In 2016, Company name changed Daewoo International to POSCO DAEWOO.
| Type | Public |
|---|---|
| KRX: 047050 | |
| Industry | International Trading & Investment, Project Organization, Resource Development |
| Founded | 1967 |
| Headquarters | Seoul, South Korea |
Key people | Kim, Young Sang (President & Chief Executive Officer) |
| Products | Cold Rolled Steel, Hot Rolled Steel, Energy Steel, Automotive Component, Steel Raw Materials, Chemicals, Commodity & Textile |
| Revenue |  US$ 21.1 billion (2017
)[1] |
| US$ 374.6 million (2017)[1] | |
| US$ 155.7 million (2017)[1] | |
Number of employees | 2,804 (2017) |
| Parent | POSCO |
| Website | www |
On 2 November 2020, POSCO International and Erae AMS will supply the Vietnamese carmaker VinFast with electrical vehicle (EV) components.[3]
Operations
POSCO DAEWOO Corporation has its head office in NEAT Tower, 165, Convenisa-daero, Yeonsu-gu, Incheon, 21998, Korea. Its global network consists of over 100 overseas branches and subsidiaries.
Business sectors
Business Group I [Steel]
Hot Rolled Steel Division, Flat & Wire Rod Division, Automotive Steel Division, Cold Rolled Steel Division, Special Steel Division, Energy Steel Division
Business Group II
Machinery & Plant Division, Power Energy Infra Division, Automotive Component Division, Electronic Industry Division
Business Group III
Steel Raw Materials Division, Metal Division, Non-Ferrous Metal Division, Commodity & Textile Division
Business Group IV
Chemical Division I, Chemical Division II, Chemical Division III
Resource Development Group
E&P Division, Mineral Resources (Commodity & Agro-Resources) Division
Domestic Business
Busan Factory, Daewoo Department Store
History
| Year | Accomplishments |
|---|---|
| 1967. 03 | Daewoo Corporation was established |
| 1982 | Trade Division was incorporated into Daewoo Corp. |
| 1999. 08 | 12 companies under Daewoo Group including Daewoo Corporation begin workout program |
| 2000. 12 | Daewoo International Corporation was spun off from Daewoo Corporation |
| 2003. 12 | The company completes the workout program |
| 2004. 12 | Sales amount exceeded 5 trillion won |
| 2005. 01 | Received the grand prize for transparent management |
| 2005. 03 | Receives the decoration of gold tower on the Day of Commerce and Industry |
| 2005. 05 | Company was incorporated into KRX100 Index |
| 2005. 08 | Receives a Global Management Grand Prize (from the Korea Economic Daily) |
| 2005. 11 | Acquired credit rating BBB+ |
| 2005. 12 | Acquires certification for excellence in information systems |
| 2006. 06 | Receives prize for excellence in corporate governance |
| 2006. 07 | Receives the prize of merit commemorating the 60th anniversary of the International Trading Day |
| 2006. 12 | Receives the best prize in the sector of future management in the management grand prize |
| 2006. 12 | Acquired Certification for an excellent company in information systems |
| 2007. 05 | Acquired credit rating of "A" |
| 2007. 06 | Awarded grand prize for shareholder value (The Money Today) |
| 2007. 10 | Awarded grand prize in the sector of global management (Korea Management Association) |
| 2007. 10 | Awarded grand prize for digital knowledge management (National Information Society Agency) |
| 2008. 02 | Secured exploration rights of 35&36 blocks in Uzbekistan |
| 2008. 12 | Daewoo International Japan Corp. acquires ISO 14001 certification |
| 2010. 08 | The contract for a takeover was signed by POSCO and Korea Asset Management Corp |
| 2010. 10 | Appointment of Lee Dong – Hee as CEO & Chairman of BOD |
| 2013. 06 | Began commercial production of gas in Myanmar |
| 2014. 05 | Held a groundbreaking ceremony for a hotel in Myanmar |
| 2015. 01 | Relocated its headquarters to POSCO TOWER SONGDO in Songdo, Incheon |
| 2016. 02 | Discovered gas reserves in Myanmar's offshore block AD-7 |
| 2016. 03 | Changed company name to POSCO DAEWOO |
| 2017. 03 | Acquired the steel business unit of POSCO P&S |
| 2017. 03 | Won gas exploration rights in Bangladesh's deep sea block 12 |
References
- "Financial Statements for daewoo international corp". Archived from the original on 2013-01-18.
- "History of Daewoo Group – FundingUniverse". www.fundinguniverse.com. Retrieved 2020-03-25.
- "POSCO Int'l to supply EV component to Vietnam's VinFast". The Korea Times. 9 November 2020. Retrieved 9 November 2020.
Financial reference : Annual < Financial Highlights Tools < Financial Information < IR < DAEWOO INTERNATIONAL CORPORATION
Reuters stock : Reuters
