POSCO International Corporation (포스코인터내셔널) is
South Korea
South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...
's largest trading company and a subsidiary of
POSCO
POSCO (formerly Pohang Iron and Steel Company) is a South Korean steel-making company headquartered in Pohang, South Korea. It had an output of of crude steel in 2015, making it the world's fourth-largest steelmaker by this measure. In 2010, i ...
.
The company was founded by
Kim Woo-choong
Kim Woo-Choong (December 19, 1936 – December 9, 2019) was a South Korean businessman who was the founder and chairman of Daewoo Group until its collapse in 1999.
Background
Born in Daegu, he was the son of the provincial governor. He was a ...
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. In 2000, as
Daewoo Group
Daewoo ( ; Hangul: , Hanja: , ; literally "great universe" and a portmanteau of "dae" meaning great, and the given name of founder and chairman Kim Woo-choong) also known as the Daewoo Group, was a major South Korean chaebol (type of conglomera ...
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, the company name was changed to current "POSCO International Corporation" in 2019
On 2 November 2020, POSCO International and Erae AMS will supply the Vietnamese carmaker VinFast with electrical vehicle (EV) components.
It aims to issue ESG bonds for first time for Korean trading companies in year 2021.
Operations
POSCO INTERNATIONAL Corporation has its head office in Posco Tower - Songdo, 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:
Main purpose of organization change is to boost steel sales and put emphasis on hydrogen energy, secondary cell battery, smart farming.
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.
History
References
Annual < Financial Highlights Tools < Financial Information < IR < DAEWOO INTERNATIONAL CORPORATIONreuters.com
External links
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Daewoo International
(archived)
POSCO
Companies of South Korea
Companies listed on the Korea Exchange
Companies based in Seoul
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