Daelim Industrial Continues to Thrive

Construction firm celebrates founding anniversary by announcing new emblem and slogan

Daelim Industrial Co. recently received a letter from Iran LNG Co. that it has been awarded the right to take charge of the entire LNG project, officially confirming Daelim's successful bid on June 9, the company said recently.
The additional project involves the construction of support facilities to the LNG/LPC tank construction project that the company is already working on, amounting to 216 million euro. Daelim is now in a good position to win additional work in connection with the LNG project that Iran LNG Co. plans to build.
Daelim also signed a contract to expand the NCP Polymer Project in Saudi Arabia, which it has been working on since December 2007, into a lump sum project. The contract was signed at Daelim's head office in Yeouido, Seoul, and under the new contract, Daelim will build four super-large polymer plants ― HDPE, LDLPE, PP, and PS ― inside the Al-Jubail Industrial Complex by January 2011.
The additional work is worth $125 million, boosting the total value of the project to $1.087 billion. Daelim Industrial Co. announced its new emblem on the occasion of its 70th founding anniversary this year at a management strategy meeting held at the Korea Chamber of Commerce and Industry building in downtown Seoul on Jan. 13.
The emblem shows a number 7 to look back on the company's past seven decades of growth and the same decades ahead with the slogan “Power of 70 Years and for the New Future,” the company said.
The emblem and slogan will be printed on all published materials issued by the company this year, the company said.
The management strategy meeting decided that the company should focus on cash flow for the sake of financial stability and secure a sustainable growth base through the reconstruction of its business portfolio this year.
President Kim Jong-in said the company will concentrate on building cash reserves by selling assets and cutting costs with economic uncertainty so high both at home and abroad. The company will limit the construction of houses in the capital area centered around reconstruction and redevelopment projects and expand social overhead capital and plant construction project orders overseas.
Established in 1939, Daelim Industrial Co., Ltd., with its E&C (Engineering and Construction) and Petrochemical groups has been the flagship enterprise of the Daelim Business Conglomerate.
In 1966, Daelim became the first Korean company to work on an overseas construction project. Since 1970, Daelim has enjoyed a good reputation for its successful completion of numerous projects in the Middle East and Southeast Asia. Now, Daelim is recognized as a global contractor with cutting-edge technologies and excellent management abilities, boasting a distinguished record of performance in more than 24 countries.
With a top-notch staff of over 2,700 specialists, Daelim’s E&C group provides a comprehensive array of services including feasibility studies, project management, engineering, procurement, construction, commissioning & start-up, operation & maintenance and project financing. The fields covered by Daelim's high-quality and cost-competitive services include gas, petroleum refining, chemical & petrochemical, power & energy plants, building & housing and civil works as well as a range of industrial facilities.
Daelim's petrochemical group, as a driving force within the Korean petrochemical industry, continues to provide a complete range of products from basic petrochemicals to highly functional, value-added products.
Daelim pursues the company vision of ‘Best Value, Better Life’ to realize the best value for every product they make and service they provide, and to materialize a better and more satisfactory life for all stakeholders including shareholders, employees and communities. nw

Chairman Lee Yong-koo of Daelim Industrial Co.

The site in Iran where Daelim is to build LNG storage tanks under a contract signed with Iran LNG Co.