Dongkuk Steel Group has been split and launched into three companies: Dongkuk Holdings, Dongkuk Steel, and Dongkuk CM.
On the morning of the 1st, Dongkuk Steel Group held board meetings of the three companies at the Euljiro headquarters Ferrum Tower to mark the completion of the split procedure approved by shareholders and to report the founding, confirming the launch.
Dongkuk Holdings appointed Vice Chairman Jang Se-wook as the chairman of the board by resolution. Vice Chairman Jang plans to work with Chairman Jang Se-ju at Dongkuk Holdings, the strategic control tower, to devise the group’s future growth strategy.
Dongkuk Steel appointed Vice President Choi Sam-young as both chairman of the board and CEO. The headquarters was decided to be located at Ferrum Tower in Suha-dong, Seoul, and four business sites in Incheon, Dangjin, Pohang, and Sinpyeong were confirmed as branches. CEO Choi is an engineer by background and a field expert who has worked extensively in Incheon, Dangjin, and Pohang. He plans to focus on advancing eco-friendly electric furnace technology going forward.
Dongkuk CM appointed Vice President Park Sang-hoon as both chairman of the board and CEO. CEO Park is an engineer who has specialized in the cold rolling sector since joining the company in 1993. Dongkuk CM will focus on establishing a global 1 million ton sales system with its core strategy, 'DK Color Vision 2030.'
Meanwhile, Dongkuk Steel Group has completed the spin-off and all three split companies are preparing for listing. The date for the change of listing and relisting is the 16th of this month. Dongkuk Steel Group plans to complete the transition to a holding company system through a tender offer and in-kind contribution in the second half of the year.
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