# KG Steel

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> Source: https://en.wikipedia.org/wiki/KG_Steel
> Source revision: 1298136104
> License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/)

{{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<br /><small>(1985-2020)</small><br />KG Dongbu Steel<br /><small>(2020-2022)</small>
| type = [Public](/source/Public_company)
| traded_as = {{kse|016380}}
| industry = [Steel](/source/Steel)
| founded = {{start date and age|1982|10|27}}
| hq_location = 
| hq_location_city = [Seoul](/source/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](/source/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](/source/multinational_corporation) that produces steel-related and cold-rolled products.

==History==
In 2013, the [Korea Development Bank](/source/Korea_Development_Bank) attempted to restructure the [Dongbu Group](/source/DB_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](/source/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](/source/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](/source/The_Korea_Herald)|date=18 May 2016|language=en}}</ref> In 2019, the company was acquired by a consortium led by [KG Group](/source/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
}}

{{Authority control}}

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

{{SouthKorea-company-stub}}

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Adapted from the Wikipedia article [KG Steel](https://en.wikipedia.org/wiki/KG_Steel) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/KG_Steel?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.