Jang Se-wook's Color Steel Sheet, Achieving 2 Trillion KRW Sales by 2030

Dongkuk Steel 'DK Color Vision 2030' Announcement
Color Steel Sheet Production 1 Million Tons... Export Expanded to 650,000 Tons
Premium Product Sales Target 500,000 Tons
Overseas Bases Increased from 3 to 8... Considering USA, Poland, etc.
World's First Eco-Friendly Color Steel Sheet Production Line Developed

[Asia Economy Reporter Hwang Yoon-joo] Dongkuk Steel is aiming to achieve KRW 2 trillion in sales and establish a production system of 1 million tons for color steel sheets by 2030 through its ‘Super Gap 2.0’ strategy. To this end, the company plans to increase its overseas bases to eight locations, including Europe and the United States, and expand color steel sheet exports by 35% compared to the current level. Additionally, in line with its carbon-neutral management policy, Dongkuk Steel will develop the world’s first eco-friendly color steel sheet production process (ECCL).

Vice Chairman Jang Se-wook (photo) announced the ‘DK Color Vision 2030’ at a press conference held at the Seoul headquarters on the 8th, stating, "With the ‘Super Gap 2.0’ strategy, which includes growth engines and differentiation strategies in an oversupplied market, we will lead the market for the next 10 years."

This press conference was organized to present a new vision on the occasion of the 10th anniversary of Dongkuk Steel’s color steel sheet brand, ‘Luxteel.’ Dongkuk Steel launched the steel brand ‘Luxteel’ in 2011, leading the color steel sheet market for the first time in Korea. Vice Chairman Jang was the key figure behind the brand launch, promoting the ‘Super Gap’ strategy at that time. As a result, Dongkuk Steel has grown into the largest domestic color steel sheet business with a 35% market share.

The future goal is to increase the sales proportion of color steel sheets from the current 20% to 30%. To achieve this, the company set targets of global color steel sheet sales of 650,000 tons (a 35% increase) and premium product sales of 500,000 tons (a 78% increase). Vice Chairman Jang plans to implement the Super Gap 2.0 strategy focusing on ▲global expansion ▲sustainable growth ▲marketing to achieve these goals.

First, to expand globally, the company will increase its overseas bases. Vice Chairman Jang stated, "We are considering the Americas, Poland, Southeast Asia, Australia, and other countries for investment," and announced plans to expand overseas production bases to eight locations across seven countries. Currently, Dongkuk Steel has three overseas bases in Mexico, India, and Thailand.

In particular, Vice Chairman Jang revealed plans to develop the world’s first eco-friendly color steel sheet line (ECCL, Eco Color Coating Line) in line with the carbon-neutral management policy. He expressed his commitment by saying, "We will transform the color steel sheet manufacturing process by minimizing the use of adhesives for coating and fossil fuel heating processes through ECCL, reducing LNG consumption by 50% by 2030," aiming to implement eco-friendly manufacturing processes for color steel sheets.

Vice Chairman Jang also introduced strategic color steel sheet products such as ▲digital printing products capable of realistic rendering ▲‘Luxteel Bio’ with antiviral performance ▲and Lamina products like D-Flon.

Furthermore, the company will accelerate the shift to non-face-to-face marketing methods. Along with marketing activities to strengthen the Luxteel brand, Dongkuk Steel will expand sales of all its products on the online platform SteelShop.com starting in December.