POSCO International

Posco International Corporation
Native name
주식회사 포스코인터내셔널
Jusikhoesa Poseuko Inteonaesyeoneol
FormerlyDaewoo Corporation
(1967–2000)
Daewoo International
(2000–2016)
Posco Daewoo
(2016–2019)[1]
Company typePublic
KRX: 047050
IndustryEnergy & Resource Development, International Trading & Investment, Project Organization
Founded1967; 57 years ago (1967)
FounderKim Woo-choong(founder)
HeadquartersSeoul, South Korea
Incheon, South Korea
Area served
Worldwide
Key people
Jeong Tak
(Vice Chairman & Chief Executive Officer)[2]
ProductsSteel, LNG, Automotive components, Agro/Crop[3]
ServicesEnergy(Gas, LNG, Solar, Wind, Hydrogen)
Steel&Metal
Infrastructure
Chemicals
Mineral resources
Food
Consumer Goods
Automotive[3]
RevenueIncrease US$ 30 billion (2022 )[4]
Increase US$ 712.2 million (2022)[4]
Increase US$ 477.3 million (2022)[4]
Number of employees
1,208 (2022)
ParentPOSCO
Daewoo Group (Formerly)
SubsidiariesPOSCO MOBILITY SOLUTION
Websiteposcointl.com

POSCO International Corporation (Korean: 포스코인터내셔널[5]) is South Korea's largest trading company[6] and a subsidiary of POSCO.

The company was founded by Kim Woo-choong in 1967 as Daewoo Industrial Co., Ltd, which ran its business in trading and construction. In 1999, the company faced at least $50 billion in debt, and Daewoo became formally dismantled.[7] In 2000, as Daewoo Group faced work-out program, Daewoo Industrial Co., Ltd's trading segment was split and established as "Daewoo International Corporation". Afterwards, it succeeded in general trading license and was listed on the stock market again. In 2016, the Company name changed from "Daewoo International" to "POSCO Daewoo". After merging with Posco P&S in 2017,[8] the company name was changed to what it is currently, "POSCO International Corporation" in 2019[9]

On 2 November 2020, POSCO International and Erae AMS was to supply the Vietnamese carmaker VinFast with electrical vehicle (EV) components.[10]

It aimed to issue ESG bonds for first time for Korean trading companies in year 2021.[11]

In the year 2022, Posco International acquired Australian gas and energy company Senex.

In the year 2023, Posco International merged with its sister company Posco Energy, integrating upstream and downstream LNG movement. The company announced a new vision "Green Energy & Global Business Pioneer" to create, connect, and complete business to enrich the future. POSCO International is making its way towards becoming a global eco-friendly integrated corporation.[citation needed]

  1. ^ "세계경영 호령하던 '대우' 브랜드, 역사의 뒤안길로". 2021-03-23.
  2. ^ "POSCO names new CEOs for trade, E&C, energy units". 20 December 2019.
  3. ^ a b "corporate website".
  4. ^ a b c "Financial Statements for daewoo international corp". Archived from the original on 2013-01-18.
  5. ^ 김동현 (2019-03-18). "포스코대우, 사명에서 '대우' 떼고 포스코인터내셔널로". Yonhap News Agency (in Korean). Retrieved 2021-03-22.
  6. ^ "저무는 종합상사 시대…"이젠 그룹 '新사업 돌격대'로 진화"". The Korea Economic Daily (in Korean). 2021-03-09. Retrieved 2021-03-23.
  7. ^ "History of Daewoo Group – FundingUniverse". www.fundinguniverse.com. Retrieved 2020-03-25.
  8. ^ "POSCO Daewoo beefs up competitiveness with merger of POSCO P&S's key units". koreatimes. 2017-03-01. Retrieved 2021-03-22.
  9. ^ "POSCO Daewoo renamed as POSCO International". koreatimes. 2019-03-18. Retrieved 2021-03-22.
  10. ^ "POSCO Int'l to supply EV component to Vietnam's VinFast". The Korea Times. 9 November 2020. Retrieved 9 November 2020.
  11. ^ "POSCO Int'l becomes first Korean trading company to issue ESG bonds". koreatimes. 2021-03-14. Retrieved 2021-03-23.