Part of the ‘DK Color Vision 2030’
Global Expansion Strategy
Dongkuk CM, a member of Dongkuk Steel Group, held an opening ceremony for its ‘Dongkuk CM European Branch Office’ in Eschborn, Frankfurt, Germany.
In line with its ‘DK Color Vision 2030’ global growth strategy, Dongkuk CM is focusing on expanding its overseas bases to overcome the growth limitations of the domestic market. With the opening of the German office, Dongkuk CM has increased its bases from five locations across four countries — India, Mexico, Thailand, and Vietnam — to six locations across five countries. The company aims to secure eight bases in seven countries by 2030.
Europe is a key region, accounting for 40% of Dongkuk CM’s exports of color-coated steel sheet for construction materials. By opening a local office, Dongkuk CM will strengthen communication with its customers and concentrate on discovering new demand within Europe. Germany is a strategic hub where more than half of the world’s major trade fairs are held and which shares borders with nine countries. Eschborn, Frankfurt, where the office is located, has a well-developed international business complex, making it easy to reach affiliated companies.
Building on this new base, Dongkuk CM is working to upgrade the quality of its export quota volumes bound for Europe. Having confirmed through local market research that customers favor its premium color-coated steel sheet ‘Luxteel,’ the company plans to expand exports of high-margin premium products such as digital printing and laminate steel, targeting advanced European countries with strong demand for high-end architecture.
Through the branch office, Dongkuk CM plans to strengthen its capacity to respond to eco-friendly export regulations such as the EU’s Carbon Border Adjustment Mechanism (CBAM), and to advance its regional sales strategies and services.
▲ A group photo of the guests and dignitaries attending the opening ceremony of Dongkuk CM’s European branch office in Germany