Category Archives: News

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POSCO DAEWOO signs W50 bil. transformer deal with Britain’s National Grid  



-Company to supply 23 high-pressure transformers to National Grid
-Deal reflects deep trust between the two companies
-POSCO DAEWOO tries to expand business scope to other tech-intensive

POSCO DAEWOO said wednesday that it had secured a 50 billion won ($44 million) transformer order from National Grid, a British multinational electricity and gas utility company headquartered in Warwick. 

Under the deal, South Korea’s biggest trading company will supply 23 high-pressure transformers, made by Hyundai Electric & Energy System, to National Grid-owned power stations in Britain from 2018 to 2020. 

POSCO DAEWOO has supplied 25 transformers valued at 130 billion won to the British company since 2011 and is expected to deliver nine more. 

The latest deal reflects trust between POSCO DAEWOO and National Grid that has been built on the two companies’ business dealings. 

“The latest deal acknowledges POSCO DAEWOO’s reputation as a creditable transformer supplier,” a POSCO DAEWOO official said. “We will try to expand the scope of products we can deal with to gas insulated switchgear and other tech-intensive products.” 

Meanwhile, POSCO DAEWOO is involved in various electricity-related businesses in Ukraine, Myanmar and the United States and is trying to expand in the industry.

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POSCO DAEWOO takes steps for prosperous next 50 years


– New vision “Beyond Trade, Pursuing Future Business” declared
– The company will try to become the world’s major trading company

POSCO DAEWOO celebrated the company’s new beginning on Wednesday following its acquisition of POSCO P&S’s key units.


In a ceremony at POSCO DAEWOO’s headquarters in Songdo, CEO Kim Young-Sang said the company’s new vision — “Beyond Trade, Pursuing Future Business” — will set the company’s direction for the next 50 years. Under the vision, the nation’s biggest trading company will strive to diversify its business portfolio by expanding into non-trading industries and exploring new opportunities. To that end, the company will adopt the “2Core, 3Expansion” strategy that will focus on expanding the value chain, boosting the efficiency of business structures and bracing for emerging international trading trends such as protectionism.


“POSCO DAEWOO’s competitiveness will be decided by our employees, given the fact that they play a pivotal role in integrating our human resources, information, business and network to drive this company forward,” Kim said. “The time has come for us to venture into new business aggressively with strong self-confidence and entrepreneurship.”

He called on employees to team up to make the company strong and competitive internationally, with a deep-seated culture of challenge, tenacity, mutual trust and cooperation.

During the ceremony, Kim presented awards to employees who had made a proven contribution to the company.

#2Core : Steel, Natural resource development

3Expansion : Agro, Auto parts, IPP(Independent Power Producer)

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POSCO DAEWOO strikes solar panel supply deals

– POSCO DAEWOO is to supply solar panel modules to Osgood Solar and other US solar power firms
– POSCO DAEWOO seeks to cover the entire value chain; expands business into renewable energy industry

POSCO DAEWOO has signed solar panel module supply deals of 30MW, worth 20 billion Korean won, with U.S. solar power companies at Intersolar North America in San Francisco, U.S. The modules to be exported are produced by Hyundai Heavy Industries and have a combined generation capacity of 30 megawatts.

POSCO DAEWOO will deliver the panels to Osgood Solar and other U.S. solar power generators, which will install the products in houses and buildings.

The contracts are considered as a significant achievement, which officials remarked that it was attributable to POSCO DAEWOO’s global business network and financing ability, and Hyundai Heavy Industries’ advanced module-making technologies.

The global demand for solar panel modules is growing as a result of an increasing focus on eco-friendly energy resources. Against the backdrop of such growing industry, POSCO DAEWOO is trying to expand its solar power business to cover the entire value chain, including polysilicon (solar cells raw material), solar cells and modules.

 “We were able to strike the deals amid intensifying price competition with the world’s leading module makers thanks to our overseas offices’ concerted efforts to develop new buyers,” said a POSCO DAEWOO official.

 “We hope this will give us additional opportunities to join other solar energy projects controlled by U.S. companies.” POSCO DAEWOO has run a business division dealing exclusively with solar, wind and other renewable energy businesses since 2010.

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POSCO DAEWOO taps deeper into Chinese domestic market

– Company takes part in the 2016 Korea Brand & Entertainment Expo in China
– Promotes credible quality of Korean products to corporate with clients in
– Signs MOU in order to promote Korean cosmetics products through
Chinese online shopping mall Tmall
– Puts meaning in developing new business model in which conglomerate and
small business coexists

POSCO DAEWOO announced that the company had took its first step into Chinese domestic market by participating 2016 Korea Brand & Entertainment Expo held in Shenyang, China from May 12 to 14, and in Chongqing, China from May 19 to 21. Organized by KOTRA, these events focus on China’s domestic market where the demand for so-called hallyu products is rising continuously. The expos feature nearly 120 Korean companies and more than 600 corporate clients in China.

POSCO DAEWOO will exhibit more than ten sorts of items related with cosmetics, electronics and healthcare goods produced by Korean companies. POSCO DAEWOO also plans to promote the credible quality of Korean products and discuss sales of the goods to Chinese domestic market. The company plans to support outstanding Korean business with its local network in China and business knowhow, such as stock management, legal advice and financing. It also plans to widen its distribution channels to establish a bigger business foothold there.

During the event, POSCO DAEWOO will sign a MOU with Cheil Worldwide and China’s Anhui Satellite TV, which will pave the way for the company to promote and sell natural cosmetic products made by Korea’s small cosmetics company, Cella, in Chinese local market. Cella’s products are scheduled to displayed in China’s entertainment shows that will be made in collaboration with Korea’s SBS TV, Cheil Worldwide and Anhui Satellite TV. This is expected to set an example of “hallyu convergence marketing.”

POSCO DAEWOO holds the exclusive rights to sell Cella’s products in China and is also responsible for all steps needed for their distribution, including financing, stock management and customs clearance. The company is working to make the products available at Tmall, one of the largest online shopping malls of China.

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Daewoo International, officially reborn as POSCO-DAEWOO

Poised to Leap Forward to Become Global Top Integrated Corporation 

– A ceremony was held on the 21st in Songdo, Incheon to announce the name-change to POSCO DAEWOO CORPORATION, and its new corporate identity

– Chairman of POSCO Group Kwon Oh-joon and the affiliates’ chief executives celebrated this new beginning 

– POSCO DAEWOO will serve as the outpost for POSCO’s future value creation in the global market

A ceremony for POSCO DAEWOO was held on the 21st at Songdo Convensia, presided over by CEO of POSCO DAEWOO Kim Young-sang, to declare the change of the company’s name and corporate identity.

Attending the meeting were Kwon Oh-joon, Chairman of POSCO Group; chief executives of its major affiliates including POSCO E&C, POSCO Energy, and POSCO ICT; and over 1,000 employees of the company, who celebrated the company’s new start. Incheon Mayor Yoo Jeong-bok and members of the Bobsleigh and Skeleton National Team sent congratulatory messages via video.

At the ceremony, the company’s name-change was announced with the new corporate identity, which was followed by a new company flag delivery ceremony and the presentation of badges and employee ID cards.

The new corporate identity strongly evokes the union of the two brands: POSCO representing trust and innovation, and DAEWOO representing originality and challenge spirit.

Mr. Kwon said in a congratulatory speech that this ceremony was significant as it put in the employees’ DNAs the strengths POSCO and POSCO DAEWOO had built over the past five decades. He added, “I call on POSCO DAEWOO, as core subsidiary of POSCO GROUP, to create more synergy effects from global business projects and to further the value of the company.”

Highlighting the importance of the new launch, Mr. Kim emphasized, “From this moment on, the company will strengthen solidarity with POSCO and focus its efforts on playing a leading role in creating greater synergy from overseas projects.” He also declared, “The company, with its own originality and boldness, will serve as an outpost for POSCO’s future creation of value in the global market.”

POSCO DAEWOO, founded in 1967 as Daewoo Industry Co.,Ltd and incorporated into POSCO in 2010, has made a new start with its new company name as one of the global top integrated corporation. The company is planning to actively expand into overseas markets as a leading global trader that links all the value chains in its business area based on its capabilities and decades-old networks in the foreign business community.