Market Characteristics and Future Growth Forecast

The steel industry has played a pivotal role in the history of Korean economic development, turning its trade balance from long time deficit into steady surplus. Along the development, the steel industry in Korea adopted 2 important strategies: scaling up the production by inducing constant enlargement of blast furnace; adopting the innovative technologies such as electric furnaces and the automation of rolling operation.

As a front-end industry, it has grown along with the automobile industry, construction, machinery, and shipbuilding industries, and the demand will be determined by whether the production volume of front-line companies increases in the future. Even after the corona pandemic, demand from major forward industries such as automobiles and shipbuilding has remained steady, and the supply and demand situation continues to be stable. The future growth of steel industry is uncertain. On one hand, the economic developments in India and China are expected to be solid(both of which have the largest populations), resulting in robust demand in global steel industry. On the other hand, the obvious downturn in Chinese construction industry may lead to  the market shrink. In addition, China could take advantage of iron ore reserve as strategic weapon against the U.S. and its allies, including Korea, resulting in the hike of steel prices.

Kyungbu Resources is thoroughly managing inventory accumulation risks and liquidity risks in line with rapidly changing steel market conditions.

To strengthen the competitiveness in the market

As an honorary PHP member of POSCO, Kyungbu Resources has continued to grow over the past few years not only in terms of volume but also in many qualitative aspects.

With vigorous efforts for the technology based procurement and efficient supply of stainless steel scrap, we succeed to strengthen our competitiveness in domestic market and expand further the trading domain over the global horizon. Thanks to the continuous support of our trading partners, we are ready to leap foward higher goals in the years to come.

Based on the strong solidarity and cooperation with the trading partners, Kyungbu Resources seeks a model in which all stakeholders can enjoy common prosperity. Kyungbu Resources also has a goal/vision to help enhance the competitiveness of the domestic steel industry and contribute to the recovery for the clean climate and ecocystem.

For these purposes, Kyungbu Resources will continue to take the leading role in contributing to the sustainable economic growth and adding creative value for the clean environment of the  global community.

ESG activities

Efficient resource management is critical in reducing waste, optimizing production costs, and minimizing environmental hazard.

The steel industry, dubbed the "rice of industry", plays an important role in economic development and human life, so managing and recycling steel related  products in a sustainable manner plays critical role not only for environmental protection but also for economic sustainability. And that is why the stringent carbon neutrality policies have been put in place on the steel industry with regards to the rising ESG trend.

Kyungbu Resources responded to this trend in a proactive manner and has been striving to adopt new technologies and innovative processes for recycling stainless steel scraps; the recycling rate of steel scrap has  sharply increased leading to the efficient use of resources and environmental protection. These proactive efforts governed by the growing ESG concern worked two ways: It leads to the good financial performance of Kyungbu Resources. It is also working for Kyungbu Resources to contribute for the recycling industry to pave the new way for sustainable economic growth.

Kyungbu Resources will continue to take the lead in protecting the environment through the efficient reuse of steel resources and also respond to global environmental risks and challenges in a proactive way as it has done so far.

SALES

Kyungbu Resources has continued to grow over the past few years, and we promise that this trend will continue in the future.
Thanks to the continuous support of our customers, we are ready to move towards higher goals.

DEPARTMENT

HISTORY

2024

  • Chosen as a honor member of POSCO PHP
    in recognition of 30 plus years of excellent supply of
    stainless steel scrap
  • Completed the consulting for various
    aspects of ESG preparation thanks to IBK

2023

  • Purchase of land and building in Sangya-dong, Inchon
  • Chosen as an Excellent Family Company by IBK
  • ISO 45001 certification

2021

  • Pohang 2 David Press Machine Installation
  • $7 Million Export Tower Award by  
    KITA(Korea International Trade Association)

2020

  • Certified as a company with excellent technical
    capabilities (sorting technology for metal materials)
    - Korea Business Data Co., Ltd.

2019

  • Launched direct export/ import business abroad
  • 2 more Press installation in Head office
  • $3 Million Export Tower Award by KITA
    (Korea International Trade Association)

2018

  • Chosen as an Excellent Member Company of IBK
    (Incheon East Regional Headquarters Representative)

2017 ~
2018

  • 5 consecutive years of financial surplus
    Chosen as an excellent company for financial capital by IBK
    for 4 consecutive years
  • Additional land and building purchase in Bucheon
  • Excellent Small and Medium Business (SMBA)
    chosen by the Small and Medium Business Administration

2016

  • Construction for an upgraded Pohang yard factory
  • The National Tax Service recognized for Kuyongpu Resources
    to be eligible for the use of an exclusive scrap account.

2015

  • Achieved ISO 9001 certification
  • Achieved ISO 45001 certification
  • Achieved AQSIQ certification

2012

  • Completed the construction of a building at 147-38,
    Seo-woon dong, Gey-Yang Gu, Inchon

2010 ~
2011

  • Additional land purchase at Seo-woon dong at 147-38,
    Gey-Yang Gu, Inchon
  • Land purchase at 147-30, Seo-woon dong,  
    Gey-Yang Gu, Inchon
  • Seo-woon dong building(at 147-30) completed
  • Land revaluation benefit reflected on the accounting book
  • Increase in sales up to 124,853 (million won)
  • Chosen as one the best suppliers to POSCO

2008 ~
2009

  • Construction of buildings at Seo-woon dong completed
  • Land purchase at Seo-woon dong 147-10,  
    Gey-Yang Gu, Inchon
  • Head office moved to Seo-woon dong,  
    Gey-Yang Gu, Inchon
  • Sales increased up to 50,617 (million won)

2007

  • Capital increased up to 850 million won

2006

  • Installation of the first press machine
    in the head office building at Bu-Cheon, Kyung-gi Do

2003

  • Press machine installed in Pohang yard factory

2002

  • Capital increased up to 200 million won
  • Purchase of a dump site in Songdong-ri, Nam-gu, Pohang

2001

  • Added manufacture of scrap metal processing
    and retail for main business purposes.

1999

  • Established headquarter at 413-5,15,418-44,
    Seo-woon dong, Gey-Yang Gu, Inchon
  • Paid-up capital amounts 50 million won

1994

  • Changed the company name to Kyungbu Stainless Steel

1990

  • Yunil Metal established

CERTIFICATION

ISO 9001

ISO 45001

ISO 14001

AQSIQ certification