Six Decades of Glory

Daesung determined to carry on late founder's spirit and biz tradition

Daesung Industrial Co. since its inception in 1947 with a pure Korean capital, has been endeavoring to supply energy to spur the economic development and for stable livelihood of the people around the country and in the process, the company has become the mother company of its affiliates.
Daesung has led the development of the energy industry beginning with coal, energy equipment development, overseas oil exploration and to the production of electricity.
At the present time, the company has some 60 gas stations around the country, oil terminals, gas recharge stations, engaged in petroleum and gas retailing business, overseas resources development business, steam and electricity production and supply, and combined heat cycle business, leading the energy sector as a professional energy company.
Furthermore, the company has been engaged in the production of high-tech machinery including oil pressure machinery and marketing them, in addition to networking and system build-up consulting,
leading the informatization business such as computer system business. The company has also diversified its lines by taking up construction and high-quality food items and health supplement foods importation, distribution and retailing.
The construction business, in particular, has been the group's core futuristic business sector, since its start in 1989 and from 2000, it has been engaged in various construction areas including the apartment building, attaining a rapid growth. The construction sector has been making a steady growth with its brand-name of "You Need"and commercial and residential complex brand, "Sky Rex"especially in the areas of redevelopment, reconstruction and other construction markets.
In the first-half of this year, the company plans to launch the construction of an office, residential, hotel and convention center complex with a total space of some 100,000 pyeong in Shindorim-dong in Yeongdeungpo Ward in Seoul.
Since the listing of its shares on the stock exchange in 1976, Daesung has been paying dividends every year for 48 years as of last year. The company's debt ratio remained below 100 percent since its establishment, becoming a pronoun for healthy companies. While many companies were mired in financial difficulties, Daesung built its name as an IMF star during the financial crisis. Of 1998.
Chairman Kim Dae-young, who took over from his late father Kim Soo-keun in 2000 after his father died in the same year, said Daesung Group will be known as just Daesung on the occasion of the 60th anniversary of the group.
The group will continuously uphold the late founder's founding spirit and tradition to grow as a sound business conglomerate, spurning new wholesome affiliate and sustain its development as a sound business group by aligning with those wholesome mid-level business companies.
He said Daesung's prosperity is being owed to talented people who worked for the development of the group as a growing business concern under the group's unique personnel management program. He said such tradition and culture will be a core engine for challenging limitlessly competitive world market in an active manner.
The chairman said a biography of late founder or honorary chairman has been published on the occasion of the group anniversary, entitled, "There were ways when we got there,"which shows the late founder's life made a great contribution to society and the group's management.
He said the honorary chairman's founding spirit is the foundation stone for the group. He willed that no one should work for the group if not qualified enough.
He said every employee should a leader for the group and pool their strength so that the group can keep on operating for the next 100 years. nw

(Photos from left) The late Founder Kim Soo-keun of the Daesung Industrial Co. Chairman Kim Dae-young. Chairman Kim and other executives display the group's new CI flag, representing the group whose name was changed to just Daesung on May 10, on the occasion of the group's 60th anniversary.