Dongbu Steel
KG Dongbu Steel (DBS, Hangul:동부제철; KRX: 016380, KRX: 016385, is a South Korean multinational corporation that produces steel-related and cold-rolled products. It is part of the Korea Development Bank.
Public | |
Traded as | KRX: 016380 |
Industry | Steel |
Founded | October 27, 1982 |
Headquarters | Seoul, South Korea |
Products | Steel Cold-Rolled, Steel Sheet, Steel and Iron Coating |
Revenue | US$2.5 billion |
Number of employees | 678 |
Parent | KG Steel |
Website | http://www.kgdongbusteel.com |
In 2013, the Korea Development Bank attempted to restructure the Dongbu Group, but its attempts resulting in slumping business.[1] Dongbu Steel reached an agreement with creditors to undergo a debt workout program.[2] Creditors tried to support Dongbu Steel with a variety of measures such as 600 billion won in support.[3] The creditors then attempted to sell Dongbu Steel, but had trouble finding bidders.[4] Dongbu Steel then sold off an electric furnace used for steel production.[5] In May 2016, Dongbu Steel was taken off sale.[6] In 2019, the company was acquired by KG Group and Cactus Private Equity.[7]
References
- Herh, Michael. "Troubled Companies Put KDB under Great Strain". Business Korea. Retrieved 6 June 2017.
- "Dongbu Steel, creditors agree on recovery plan". english.yonhapnews.co.kr. Yonhap News Agency. June 30, 2014. Retrieved 6 June 2017.
- "Dongbu affiliate seeks receivership". Korea JoongAng Daily. October 2, 2014. Retrieved 6 June 2017.
- Lee, Hyo-sik (25 January 2016). "Sale of Dongbu Steel in limbo". The Korea Times. Retrieved 6 June 2017.
- Chun, Beom-joo; Chung, Seok-woo. "S. Korea's Dongbu Steel creditors opt to sell off Dangjin plant's hot-rolled steel electric furnace to Iran - Pulse by Maeil Business News Korea". pulsenews.co.kr (in Korean). Retrieved 6 June 2017.
- Kim, Yoon-mi (18 May 2016). "[Market Now] Dongbu Steel not for sale anymore". The Korea Herald. Retrieved 6 June 2017.
- Kang, Gye-man; Lee, Ha-yeon (16 June 2019). "Dongbu Steel bolsters capital under new owner and debt relief". Maeil Business News Korea. Retrieved 15 September 2019.