KG Steel

{{Short description|South Korean metals company}} {{Infobox company | name = KG Steel Co., Ltd. | logo = Logo KG Steel (South Korea).png | image = | native_name = KG스틸 주식회사 | native_name_lang = ko | former_name = Dongbu Steel (1985-2020) KG Dongbu Steel (2020-2022) | type = Public | traded_as = {{kse|016380}} | industry = Steel | founded = {{start date and age|1982|10|27}} | hq_location = | hq_location_city = Seoul | hq_location_country = South Korea | key_people = Park Sung-hee (CEO) | products = Steel Cold-Rolled, steel sheet, steel and iron coating | revenue = | operating_income = | net_income = | num_employees = | parent = KG Group | subsid = | website = {{URL|www.kg-steel.co.kr}} | footnotes = }} '''KG Steel Co., Ltd.''' ({{Korean |hangul=KG스틸 주식회사}}) is a South Korean multinational corporation that produces steel-related and cold-rolled products.

==History== In 2013, the Korea Development Bank attempted to restructure the Dongbu Group, but its attempts resulting in slumping business.<ref>{{cite web|last1=Herh|first1=Michael|title=Troubled Companies Put KDB under Great Strain|url=http://www.businesskorea.co.kr/english/news/money/12103-cant-restructure-everyone-troubled-companies-put-kdb-under-great-strain|website=Business Korea|accessdate=6 June 2017}}</ref> Dongbu Steel reached an agreement with creditors to undergo a debt workout program.<ref>{{cite news|title=Dongbu Steel, creditors agree on recovery plan|url=http://english.yonhapnews.co.kr/business/2014/06/30/96/0501000000AEN20140630009200320F.html|accessdate=6 June 2017|work=english.yonhapnews.co.kr|agency=Yonhap News Agency|date=June 30, 2014|language=en}}</ref> Creditors tried to support Dongbu Steel with a variety of measures such as 600 billion won in support.<ref>{{cite news|title=Dongbu affiliate seeks receivership|url=http://mengnews.joins.com/view.aspx?aId=2995578|accessdate=6 June 2017|work=Korea JoongAng Daily|date=October 2, 2014}}</ref> The creditors then attempted to sell Dongbu Steel, but had trouble finding bidders.<ref>{{cite news|last1=Lee|first1=Hyo-sik|title=Sale of Dongbu Steel in limbo|url=https://www.koreatimes.co.kr/www/news/biz/2016/01/123_196288.html|access-date=6 June 2017|work=The Korea Times|date=25 January 2016|language=en}}</ref> Dongbu Steel then sold off an electric furnace used for steel production.<ref>{{cite news|last1=Chun|first1=Beom-joo|last2=Chung|first2=Seok-woo|title=S. Korea's Dongbu Steel creditors opt to sell off Dangjin plant's hot-rolled steel electric furnace to Iran - Pulse by Maeil Business News Korea|url=http://pulsenews.co.kr/view.php?year=2016&no=185694|accessdate=6 June 2017|work=pulsenews.co.kr|language=ko}}</ref> In May 2016, Dongbu Steel was taken off sale.<ref>{{cite news|last1=Kim|first1=Yoon-mi|title=[Market Now] Dongbu Steel not for sale anymore|url=http://www.koreaherald.com/view.php?ud=20160518000944|accessdate=6 June 2017|work=The Korea Herald|date=18 May 2016|language=en}}</ref> In 2019, the company was acquired by a consortium led by KG Group companies and Cactus Private Equity.<ref>{{cite news |last1=Kang |first1=Gye-man |last2=Lee |first2=Ha-yeon |title=Dongbu Steel bolsters capital under new owner and debt relief |url=https://pulsenews.co.kr/view.php?year=2019&no=418525 |accessdate=15 September 2019 |publisher=Maeil Business News Korea |date=16 June 2019}}</ref>

==References== {{reflist}}

==External links== * {{Official website|http://www.kg-steel.co.kr}} {{Finance links |name= KG Steel |google= 016380:KRX |yahoo= 016380.KS |bloomberg= 016380:KS |reuters= 016380.KS }}

Category:Steel companies of South Korea Category:Companies listed on the Korea Exchange