"KRW 2 Trillion and 1 Million Tons: Eco-Conscious Global Sustainable Growth"
Color-Coated Steel Sheet Revenue Share to Grow from Current 20% to 30%
Marking the 10th anniversary of the launch of Luxteel, Korea's first steel brand, Chang Sae-wook, Vice Chairman of Dongkuk Steel, announced the 'DK Color Vision 2030,' pledging to "build a system generating KRW 2 trillion in color-coated steel sheet and related revenue at a capacity of 1 million tons by 2030."
At a press conference held at the company's headquarters in Euljiro, Seoul on November 8, Vice Chairman Chang Sae-wook stated, "We will grow Dongkuk Steel's color-coated steel sheet business by 43%, from the current scale of 850,000 tons and KRW 1.4 trillion to 1 million tons and KRW 2 trillion by 2030."
This reflects a mid-to-long-term goal of raising the color-coated steel sheet revenue share from the current 20% to 30%. In particular, he presented targets of 650,000 tons in global color-coated steel sheet sales (a 35% increase within 10 years) and 500,000 tons in premium product sales (a 78% increase within 10 years). Dongkuk Steel is Korea's largest color-coated steel sheet operator (35% market share, as of 2020) and owns the Busan plant, which, with an annual capacity of 850,000 tons, is the world's largest single-plant color-coated steel sheet production base.
On this day, Vice Chairman Chang Sae-wook introduced a 'super-gap' (unrivaled superiority) strategy as the solution for achieving DK Color Vision 2030, and presented three specific approaches: △global expansion △sustainable growth △marketing.
Vice Chairman Chang Sae-wook unveiled a plan for global expansion to achieve the vision. Dongkuk Steel currently operates three bases in three countries — Mexico, India, and Thailand — and plans to expand this to eight bases in seven countries by 2030. Vice Chairman Chang Sae-wook explained, "We are reviewing further expansion into the Americas, Europe, Southeast Asia, Australia, and other regions."
Vice Chairman Chang Sae-wook emphasized 'eco-conscious sustainable growth' in the color-coated steel sheet business. The strategy is not only to lead the market with differentiated and premium color-coated steel sheets, but also to make the color-coated steel sheet manufacturing process itself eco-friendly. On this day, Vice Chairman Chang Sae-wook unveiled the concept of the world's first eco-friendly color-coated steel sheet line (ECCL, Eco Color Coating Line).
He expressed his ambition, saying, "We will transform into the ECCL, which minimizes coating adhesives and fossil-fuel heating processes in color-coated steel sheet manufacturing, and cut LNG usage by up to 50% by 2030."
Vice Chairman Chang Sae-wook introduced Dongkuk Steel's strategic color-coated steel sheet products: △digital printing products capable of rendering photorealistic images △'Luxteel Bio,' which offers anti-virus performance △and lamina products with a 20-year weather-resistance guarantee, such as 'D-Flon.'
To achieve the 2030 vision, the company is accelerating a shift in marketing methods, including non-face-to-face approaches. Vice Chairman Chang Sae-wook introduced marketing activities to strengthen the Luxteel brand, including △Luxteel.com △Luxteel TV △the Luxteel chatbot service △and design trend announcements. He also announced that, starting in December, the company will expand sales of all Dongkuk Steel products on the online platform 'Steelshop.com.'
In 2011, Dongkuk Steel launched Luxteel, Korea's first steel brand, fusing design with steel and leading innovation in steel marketing. As Luxteel marks its 10th anniversary this year, Vice Chairman Chang Sae-wook — who spearheaded the launch of Luxteel a decade ago — has once again presented new trends and growth strategies for the color-coated steel sheet market.
Vice Chairman Chang Sae-wook said, "Luxteel began as the steel industry's first brand and has become synonymous with color-coated steel sheets. Please look forward to the cityscapes that Luxteel will design," and emphasized, "As a firmly established first mover in the color market, we will lead the next decade with unrivaled superiority."