POSCO International
POSCO INTERNATIONAL (포스코인터내셔널[1]) is Korea's largest trading company[2] and a subsidiary of POSCO.
 | |
Native name | 주식회사 포스코인터내셔널 |
|---|---|
Romanized name | Jusikhoesa Poseuko Inteonaesyeoneol |
| Formerly | Daewoo Corporation (1967~2000) Daewoo International (2000~2016) |
| Type | Public |
| KRX: 047050 | |
| Industry | International Trading & Investment, Project Organization, Resource Development |
| Founded | 1967 |
| Founder | Kim Woo-choong(founder) |
| Headquarters | Seoul, South Korea Incheon, South Korea |
Area served | Worldwide |
Key people | Joo, Si-Bo (President & Chief Executive Officer)[4] |
| Products | Steel, LNG,Automotive components,Agro/Crop[5] |
| Services | Steel&Metal Infrastructure Chemicals Energy Mineral resources Food Consumer Goods Automotive[5] |
| Revenue |  US$ 21.1 billion (2017
)[6] |
| US$ 374.6 million (2017)[6] | |
| US$ 155.7 million (2017)[6] | |
Number of employees | 2,804 (2017) |
| Parent | POSCO |
| Subsidiaries | |
| Website | www |
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.[7] 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. After merge with POSCO P&S in 2017.[8], company name was changed to current POSCO INTERNATIONAL CORPORATION on 2019[9]
On 2 November 2020, POSCO International and Erae AMS will supply the Vietnamese carmaker VinFast with electrical vehicle (EV) components.[10]
It aims to issue ESG bonds for first time for Korean trading companies in year 2021.[11]
Operations[]
POSCO INTERNATIONAL 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[]
As of Dec, 2020. Company has re-organized as below:[12] Main purpose of organization change is to boost steel sales and put emphasis on hydrogen energy, secondary cell battery, smart farming.[12]
Steel 1 - Export/Triangular sales: Hot rolled steel, Cold rolled steel, Billet & Wires, Energy & shipbuilding steel, Automotive steel
Steel 2 - Domestic/Import sales: Flat steel, Construction materials & plates, Steel raw materials, Stainless steel
Energy - E&P, Gas operations, Energy, Resource development
Agro & Materials - Agro, Mobility, Nonferrous, Eco-friendly materials
Splits steel processing and manufacturing sectors as subsidiary, and names POSCO SPS.[13][14]
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 |
| 2019. 03 | Renamed as POSCO INTERNATIONAL[9] |
| 2020. 04 | Splits steel processing divisions as subsidiary POSCO SPS[14] |
References[]
- ^ 김동현 (2019-03-18). "포스코대우, 사명에서 '대우' 떼고 포스코인터내셔널로". 연합뉴스 (in Korean). Retrieved 2021-03-22.
- ^ "저무는 종합상사 시대…"이젠 그룹 '新사업 돌격대'로 진화"". hankyung.com (in Korean). 2021-03-09. Retrieved 2021-03-23.
- ^ "세계경영 호령하던 '대우' 브랜드, 역사의 뒤안길로". 2021-03-23.
- ^ "POSCO names new CEOs for trade, E&C, energy units".
- ^ a b "corporate website".
- ^ a b c "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 Daewoo beefs up competitiveness with merger of POSCO P&S's key units". koreatimes. 2017-03-01. Retrieved 2021-03-22.
- ^ a b "POSCO Daewoo renamed as POSCO International". koreatimes. 2019-03-18. Retrieved 2021-03-22.
- ^ "POSCO Int'l to supply EV component to Vietnam's VinFast". The Korea Times. 9 November 2020. Retrieved 9 November 2020.
{{cite web}}: CS1 maint: url-status (link) - ^ "POSCO Int'l becomes first Korean trading company to issue ESG bonds". koreatimes. 2021-03-14. Retrieved 2021-03-23.
- ^ a b "포스코인터내셔널, 2021년 조직 개편 및 보직변경 실시". 철강금속신문 (in Korean). 2020-12-24. Retrieved 2021-03-23.
- ^ "CEO's message | COMPANY | POSCO SPS". www.poscosps.com. Retrieved 2021-03-23.
- ^ a b "포스코인터내셔널, STS·TMC·후판가공 사업부문 분할 - 스틸데일리". m.steeldaily.co.kr. Retrieved 2021-03-23.
- Annual < Financial Highlights Tools < Financial Information < IR < DAEWOO INTERNATIONAL CORPORATION
- reuters.com
External links[]
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