Dongkuk Steel Mill Co. Aims to Grow Color Steel Business
11/09/2021 - The company announced yesterday that it wants to grow its color-coated steel business to 2 trillion won (US$1.7 billion) and 1 million tons in annual production capacity by 2030, according to The Korea Economic Daily.
Currently, Dongkuk Steel Mill Co.’s annual production capacity is 850,000 tons with 1.4 trillion won in sales.
At the 10th anniversary celebration of the launch of Luxteel, the company’s high-end colored steel brand, the company unveiled its DK Color Vision 2030 strategy and plans to pursue a new manufacturing process, Eco Color Coating Line (ECCL), an eco-friendly steel manufacturing process which cuts the use of adhesives. In addition to new manufacturing processes, Dongkuk plans to grow their overseas facilities in seven countries by 2030.
“We are considering entering major markets such as the U.S., Poland, Vietnam and Australia,” said vice chairman Chang Sae-wook. “In the process of expanding our production capacity by 150,000 tons over the years, we will also pursue an M&A as an option.”
The Korea Economic Daily has more here.
