50th Anniversary of KOSEN... Company Name Changed to 'IREM'

Kosen announced on the 25th that it will change its company name to IREM Co., Ltd. in celebration of its 50th anniversary.

Kosen started as Dongshin Metal in 1974 and has been dedicated to manufacturing industrial stainless steel pipes. IREM stands for Integrity, Reliability, Energy, and More, meaning adding customer value based on these principles. Kosen plans to hold a CI declaration ceremony and a signboard unveiling event at its headquarters in Buan on the 28th.

Along with the name change, a new slogan was also unveiled. The new slogan, "Total Steel Fabrication for a Better Life!" reflects IREM's vision to become a comprehensive steel materials company and to grow together with customers by creating customer value.

CEO Kim Kwang-soo stated, "We will take on the challenge of a new 50 years in step with the rapidly changing business environment," adding, "Based on the experience and expertise accumulated over the past 50 years, we aim to transform from a simple stainless steel manufacturer and steel company into a green industry partner leading eco-friendly energy and the steel industry."

Kosen plans to finalize the name change approval through the agenda for amending the articles of incorporation at the 50th regular shareholders' meeting on the 28th.