1 2013 Daewoo Internation
May 08, 2015
1
2013 Daewoo International
2
Contents
I
III
▶ Corporate Outlook
▶ Organization & Personnel
▶ Global Network
▶ Core Competency
▶ Vision 2020
Synergy with POSCO Family
Business Area
Company Profile
II
3
Corporate Outlook
Daewoo International (DWI)
Establishment : 1967
Sales Volume (2012) : USD 18.2 Billion
Vision : Challenging towards Global Top Company
Major Business Sector
· International Trade
· Project Organizing
· Resource Development
· Overseas Investment
Employee : 3,312 (except employees in manufacturing)
Global Network : Total 99 (58 countries)
20
16
12
4
20092008
$ 18.2 Billion
2011
Sales Volume(CAGR = Compound Annual Growth Rate)
(Operating Profit)
(Sales Volume)
2010 2012
USD 151M
* Since 2011, K-IFRS standard used
8
4
Organization & Personnel
Global Network : 99
Total Employees : 13,515
Trade &Investment
TradeAdministration
5 Groups
19 Divisions
66 Teams
45 Branches
19 Subsidiaries
20 Subsidiaries
(Manufacturing)
- Major 8
- Minor 12
2 Divisions
7 Department
1 Team
HQ (Korea)
693
DomesticBusiness
Busan Factory
Department Store
1 Energy
(East Sea 6-1)
217
Employees Employees
Overseas
ManufacturingInvestment
Energy &Resource
7 Energy
6 Mineral Resource
2 Agro Resource
* Total Employees : Includes 10,257 in overseas manufacturing factories
Employees
Factory: 789
Dept. store: 217
Overseas Employees
Koreans : 240
Global Staffs : 1102
(As of Apr. 2013)
55
Core Competency
Trade & PJT Expertise
• Stable & Synergy-creating Biz Portfolio - Trade : Steel, Metal, Chemical, Machinery etc.
- Project Organizing: IPP, Plant, Transportation
- Energy/Mineral Resource/Agro Resources Development: 16sites
- Manufacturing Investment: 20 in 13 countries
Global BizNetwork
BusinessPortfolio
• Korea’s No. 1 Overseas Biz Network
- 124 Overseas Units in ** Countries
- 6,000 Partners in 180 Countries
• 46-year Trading & Investment Know-how
• Trade & Project Experts
- Global Competency and Vast Experience
DWI, The Best Trade / PJT Organizing / Resource Development Company
• Korea’s No. 1 Overseas Biz Network
- 99 Overseas Units in 58 Countries
- 6,000 Partners in 180 Countries
66
Vision 2020
Korea’s No.1 Trader
Korea’s LeadingDeveloper
Niche Organizer
• Sales Volume: $15.7 Bil.
• Operating 3 Projects (Myanmar gas, East Sea, Indonesia Palm Oil)
• Power, Paper Manufacturing Plant
Global Major Trader
Energy/ResourcePortfolio Operation
• Top 10 Sales Volume
• Operating 4 Projects• Equity Investment on over 10 Projects
• Country Marketing• Large-size, Complex
Project Development
~2020~2012
Sales USD 65 Billion / Pre-tax Income 2.2 BillonSales USD 65 Billion / Pre-tax Income 2.2 Billon
Project Developer
“Challenging towards Global Top Company”
DWI, Achieve Sales Volume of USD 65 Billion through Vision 2020
Nurture All Employees as the Global Best Talent
50% or Higher Long-term Stable Profit Weight
Lead and Build up Family Cooperation
7
Contents
I
▶ Business Group
▶ Business Sector
- International Trade
- Resource Development
- Project Organizing
- Manufacturing Investment
Business Area
Company Profile
Synergy with POSCO Family
II
III
8
Business Group BUSINESS GROUP DIVISION MAIN BUSINESS/ITEM
Business Group 1
Hot Rolled Steel Division Hot Rolled Steel(POSCO Origin), API
Plate & Wire Rod Division Plate, Wire Rod, Slab
Energy Steel Division API Plate & HRC, Offshore / Wind Tower Plate, API Pipe
Cold Rolled Steel Division Cold Rolled Steel(POSCO Origin)
Automotive Steel Division Hot-dip Galvanized Steel
Special Steel Division Stainless Steel
Business Group 2
Machinery & Plant Division Industrial Machinery, Plant, Defense Industry Products
Power Energy Infra Division Power Generation Plant Projects
Automotive Component Division I Automotive Components(OE)
Automotive Component Division II Automotive Components(RE)
Electronic Industry Division Electronic/IT Products
Business Group 3
Steel Raw Materials Division Steel Raw Materials, Steel Semi Products , Deformed Bar
Non-Ferrous Metal DivisionCopper, Nickel, Aluminum, Zinc, Lead, Tin,
Finished Products of Copper & Brass
Commodity Division Development for Agricultural Resources & Textile Materials
Business Group 4
Chemical Division 1 Petroleum Products, Petrochemical Raw Materials,
Detergent Raw Materials
Chemical Division 2 PE, PP, PS, ABS, PVC, PU Raw Materials, PET Resin,
Textile Materials, Polyester Raw Materials, Plasticizer
Chemical Division 3 Synthetic Rubber, Fertilizer, Paper, Inorganic,
Fine Chemical Products
Energy & Resources Group
E&P Division Development for Energy Resources
Mineral Resources Division Development for Mineral Resources
99
Business Sector
DWI, Diversifying its Business Model in a way that Creates a Synergy
To Create Synergy
International TradeEnergy & Resource
Project Organization & Development
○ Organization : Industrial/Power Plant, Infrastructure (Ex. Railway, Port)○ Development : Package Deal (Resource + Plant), IPP
Main Business Sectors of DWI
International Trade
Project Organizing
Resource Development
Overseas Investment
Stable SupplyExploration
Development Production
Marketing RawMaterial
Production
Distribution & ProcessingPackage Supply Marketing
10
DWI, Trading a Variety of Items / Specialized in Triangular Business
Business Sector – International Trade
Ex. Steel Raw Materials Triangular Business
Resource Development Co.In Overseas
Steel Mills in ChinaSao Paulo Branch
Sydney Branch
DAEWOO INDIA
Moscow Branch
Johannesburg Branch
DAEWOO CHINA
BUYING
SELLING
100
47
18
2
10
3
1
19
Total
Steel
Non Ferrous Metal
Machinery/Automotive
Textile
Item
HR, CR, STS
Non-Ferrous Metal,Steel Raw Materials
Machinery, Plant
Automotive Components, Parts
Cotton, Cotton Yarn & FabricTextile Materials, Woven Apparels
Petroleum Products, Chemical Raw Materials
PE/PP, PVC, PET Resin, Fertilizer etcChemical
Agriculture/Fisheries
Electronics
Grain, Foodstuff, Coal,Mineral & Construction Materials
Electronic / IT Products, System IntegrationDefense Industry Products
2013 Sales Ratio for Trade Triangular Business
Export 50%
Triangular 46%
import 4%
Unit (%) 46% of Trade is accom-
plished by Triangular Business
11
16 Resources Development Projects including 5 Projects as Main Operators
Business Sector – Resource Development
8 Energy Projects 6 Mineral Resources Projects
CANADAKiggavik (uranium)
PERUBlock 8 (oil)
MYANMARA-1 (gas)
(Operator)
VIETNAM11-2 (gas)
MYANMARA-3 (gas)
(Operator)
MYANMARAD-7 (gas)(Operator)
OMANKOLNG(Gas)
MADAGASCARAmbatovy (nickel)
KOREAEast Sea 6-1 (Operator)
BOLIVIACorocoro (copper)
AUSTRALIAMarree (uranium)
AUSTRALIANarrabri (coal)
(As of Apr. 2013)
2 Agro-Resources Projects
RUSSIATomsk (Woods)
INDONESIAPalm Oil (Operator)
CAMEROONMayodale (tin)
Hong KongSEAGP
12
Project Equity Reserve History & Status Remarks
Peru Block 8(Oil Field)
11.7% 28 MM bbl- 1996: Participation (Operator : Pluspetrol)- Production: 11,000 bbl/day (Crude Oil)
- Earnings: US$ 11 mm in 2012 US$ 13 mm in 2011 US$ 12 mm in 2010
Vietnam offshore Block 11-2(Gas Field)
4.9%0.73 TCF
15 MM bbl
- 1992: Participation (Operator : KNOC)- Dec. 2006: Commercial Gas Production- Production : 152 mmscf/day (Gas) 3,800 bbl/day (Condensate)
- Earnings: US$ 4 mm in 2012 US$ 4 mm in 2011 US$ 6 mm in 2010
Myanmar offshore Block A-1
(Gas Field)
51% (*Opera-tor)
3.3~ 5.6TCF
- Jan. 2004: Discovery of Shwe Gas Field- Mar. 2005: Discovery of Shwe-Phyu Gas Field- Aug. 2006: Reserves Certification in Shwe & Shwe-Phyu Gas Fields (from GCA)
- GSPA in Dec. 2008- Declaration of Commerciality in Nov. 2009- EPCIC Contract in Feb. 2010- FDP Approval in Mar. 2010-- Gas Sales in 2013
Myanmar offshore Block A-3
(Gas Field)
51% (*Opera-tor)
1.3~ 2.2TCF
- Jan. 2006: Discovery of Mya Gas Field- Aug. 2007: Reserves Certification in Mya Gas Field (from GCA)
Myanmar offshore Block AD-7
60% (*Opera-tor)
n/a- Feb. 2007: PSC Signed- Mar. 2007~Jun. 2013: Study Period- Jul. 2013~Jun. 2015: Exploration Period
- Farm-out 40% Participating In-terest to Woodside in 2013
Korea offshoreBlock 6-1S
70% (*Opera-tor)
n/a- Sep. 2011: Concession Contract Signed- Oct. 2011~Sep. 2015: 1st Exploration Period
MID-STREAM
SEAGP(South East Asia
Gas Pipeline Com-pany)
25.041% n/a
- Jun. 2010: Establishment of a SPC, SEAGP in Hong Kong (Major Shareholder: CNPC)- Apr. 2010: Establishment of Myanmar Branch Office (Mandalay)- May 2011: EPC Construction Started (On-going)- May 2013: Completion of Pipeline Construction
- Transportation of gas produced from Myanmar Block A-1/A-3 to Eastern part of China
DOWN
STREAM
Oman LNG(KOLNG)
20%(1% of OLNG)
n/a- 1997: Participation (Operator : Shell)- 2000: LNG Production (Dividend since 2002)- Annual capacity : 6.6mmMT
- Earnings: US$ 19 mm in 2012 US$ 17 mm in 2011 US$ 13 mm in 2010
• TCF : Trillion Cubic Feet / KNOC: Korea National Oil Corporation / GCA: Gaffney, Cline & Associates / GSPA : Gas Sales & Purchase Agreement
• FDP : Field Development Plan / PSC : Production Sharing Contract / SPC: Special Purpose Company
Business Sector – Energy Resource Devel-opment
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Business Sector – Mineral and Agro Resource Develop-ment
Project Equity Reserve Remarks
MadagascarAmbatovy
(Nickel)
4.0% 125 MM tons
- 2006: Participation - Parties: Sherritt 40%, Sumitomo 27.5%, KC 27.5% (KORES 17.5%, others) - Production in 2012 (Production period: 29 years)- Annual Capacity: Nickel 60,000 MT, Cobalt 5,600 MT
AustraliaNarrabri(Coal)
5.0% 230 MM tons- Aug. 2009: Participation- Parties: Whitehaven 70%, KORES 2.5%, others- Annual Capacity: 6 mm MT (Production in 2010)
Canada Kiggavik (Uranium) 1.7% 40,616t
- 1983: Participation - 2008~2014: Environmental assessment study, F/S
AustraliaMarree (Uranium) 10% n/a
- 2008: Participation - Exploration in progress
BoliviaCorocoro (Copper) 5% n/a
- 2008: Participation - Exploration in progress
CameroonMayo Dale (Tin) 100% n/a - Apr. 2011: Cameroon Corporation established
- Jul. 2011: Approval of Mining Right for Mayo Dale’s tin
Indonesia (Oil Palm) 85% 36,000 ha- Aug. 2011: Contract signed- Sep. 2012: Initiated Oil Palm planting- Apr . 2013: Oil Palm tree planted (2,400ha, 310,000ea)
Russia (Forest) 50% 209,000 ha- Aug. 2011: Contract Signed - Nov. 2012: Started wood harvesting and marketing- Jun. 2013: Expected to implement construction of veneer mill
• KC: Korean Consortium / KORES : Korea Resources Corporation
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DWI, Operating Myanmar Gas Project toward Gas Production in May 2013
Business Sector – Myanmar Gas Project
• BlockBlock A-1 (since Aug. 2000)Block A-3 (since Feb. 2004)
• Location Northwest Offshore of Myanmar
• Contract Production Sharing Contract
• Investment Total : 1,713 M (USD)
• Equity
DWI (Operator) 51%ONGC Videsh 17%MOGE 15%GAIL (India) Limited 8.5%KOGAS 8.5%
• TCF (Trillion Cubic Feet), 4.5~7.7 TCF is 0.8 ~ 1.4billion barrel of oil equivalent • GSPA : Gas Sales & Purchase Agreement / EPCIC : Engineering, Procurement, Construction, Installation & Commissioning
• Process for Gas Production
Myanmar Gas Development Project
− Dec. 2008: GSPA (CNUOC) − Nov. 2009: Declaration of
Commerciality− Feb. 2010: EPCIC Contract− May 2013: Gas Production
15
DWI, Covering Every Step of Project Organizing (Financing / Plant / Operation)
Business Sector – Project Organizing
Papua New Guinea Power Plant Project
Finance LocalGovernment
Electric
Power
Supply
Construction/Maintenance
Capital Investment
Insurance
Capital InvestmentProject Organizing
PapuaPower Plant
Structure• Establishment 1996. 8. 16.
• LocationPort Moresby, Papua New Guinea
• Project SchemeBOT (Build Own Transfer)IPP (Independent Power Producer)
• Investment USD 16 Mil.
• Sales (2012) USD 25 Mil.
• Capacity 24 Mega Watt/Year
Supply 40% of Papua Metropolitan area electricity demand
DWI 49%Doosan Heavy Industry 51%
• Equity
EDCF
Green Energy(Sun & Wind Energy)
SocialInfrastructure
Oil & Gas, Refinery, Petrochemical Plants
Power Plant(IPP, BOT)
EDCF (Economic Develop-ment & Cooperation)
16
DWI, Positioning to Become the World’s Biggest Lateritic Nickel Mine
Business Sector – Resource Development
Madagascar Ambatovy Nickel Project
Structure
• Project
Madagascar Ambatovy Nickel Project
• Invest-ment
Total (USD) : 7.1 Bil.
• Equity DWI 4%Sherritt 40%, Sumitomo 27.5%, SNC-Lavalin 5%KORES 17.5%, Samsung CNT 3%, HHI 1.5%, STX 1%, Hyundai Corp. 0.5%
• Reserve169 Mt @ 1.04% Nickel, 0.10% Cobalt
• Produc-tion
Nickel 60,000 ton/yearCobalt 5,600 ton/year
30,000 ton Nickel for Korean Consor-tium
19,500 ton for Daewoo (65% of Korean Consortium)
Capital Investment
O&MCompany
Operation/ Maintenance
SponsorsLenders Group
Loan
Guarantee
40% 27.5% 27.5% 5%
17.5% 4% 3% 2% 1%
K A C
Ambatovy Plant Site
17
DWI, Operating 10 Manufacturing Subsidiaries to Create a Synergy with Trading
Business Sector – Manufacturing In-vestment
Overseas Manufacturing Investment
CHINAPaper
PNGPower Producer
UZBEKTextile
UZBEKTextile
SUDANMedicine
Subsidiary
Investment
9
USD 120 Mil.
MEXICOCoil Center
BRAZILCoil Center
INDONESIACoil Center
MALEISIABattery
(As of Apr. 2013)
18
Contents
I
▶ POSCO Overview
▶ POSCO Business Portfolio
▶ Major Products of POSCO
Business Area
Company Profile
Synergy with POSCO GROUP
II
III
Innovative challenges have made POSCO the world’s best steel company
1980 1990
2000
1970 2010
2000 Privatization
1992Completion of
Gwangyang Works (20.8 million T)
1983 Completion ofPohang Works(9.1 million T)
2010Takeover agreement
of Daewoo International1994
Listed on NY stock exchange (1st Korean company)
2007Construction of
FINEX commercial facilities
1968Initiation
2010 recorded 33.7million T
crude steel production
2010 “No. 1”
international steel company
(World Steel Dynamics)
Overview.. History
19
Foster individual employee progress with education programs, which in turn will aid POSCO’s growth into the future
Achieve growth of both the companyand the individual employee
Implement Smart Workplace and new skills training systems; achieve advanced family management system based on sharing for mutual gain
Implement future-oriented, advanced family business management system
Advance from steel-oriented to future-oriented company, achieving balance between current and new businesses
Advance business scope to achieve future oriented excellence
Expand steel business into Eurasia/Americas;establish frontiers in new, resource abundant areas to do business in all possible areas of the world
Expand business presence throughout the globe
Become a global leading company with all POSCO’s family by 2020
Great Challenge Great Voyager
Great Workplace Great People
Expand business scope
Expandbusiness presence
Achieve human progress
Overview.. Vision 2020
Advance business practices
Continued Challenge to Achieve New Dreams
Achieve 200 trillion won in sales through balance and harmony of steel & non-steel, traditional and future industries as well as manufacturing and service industries.
Steel supplierSteel Expansion
Group
Seed• Green/Marine
• Investment/Distribution
• Synergy Enterprise
Growth• E&C, ICT
• Energy, Chemicals
113317
46.3
200 trillion won in sales
(2010)
20 trillion won
351755
• Steel/Raw materials
• Materials/Support
Future Competitive
Biz Portfolio Group
Core
20
6.8
Investment
(~2020)
120 trillion won
Steel
Raw materials
Materials
E&C
Energy
ICT
Chemistry
Synergy etc.
5.7
Achieve 200 trillion
won in sales
1973 1993 2010 2020
1014
22
56
6
6
24
E&C
Energy
ICT
Chemistry
Synergy etc.
Steel
(Support)
Materials
Synergy etc.
Steel etc.
E&C etc.
60 trillion won
120 trillion won
Overview.. Vision 2020Development and the Future
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POSCO Family stands tall on the global scene through its 8 international business sites, approximately 50 mutual investment companies and 80 business networks.
★ International mutual investment company★ Daewoo International Network
★ International business site
Business Portfolio.. Global Leadership
Carbon and stainless steel - hot-rolled, cold-rolled, plates, wire rods, electric steel
plates, special steel, surface treated steel sheets etc.
World’s largest unit steel plant at Gwangyang
Pohang plant equipped with 4 furnaces, set new world record for daily output
First in world to produce TWIP for automotives
Production bases, processing plants and sales routes established throughout the world
for fast response to customer needs
Major products
Internationally renowned, world’s best steel company
CoreFamily
Business Portfolio.. Steel
High-value carbon materials, Magnesium, Titanium, Ferromanganese, Zirconium
tubes, Lithium, rare-earth metals
Major products
Striving to become a global leader in total material supply
Focus on high-strength, ultra-light base materials and advanced materials
Established production of magnesium, titanium
Expected production of automotive steel materials ?ferromanganese, zirconium tubes
Developing technology to extract lithium from sea water, focus on production of rare-earth
materials
Construction of factories for cathode material of secondary batteries, focus on pursuing
high-value carbon materials
Business Portfolio.. New Materials
• Plant engineering skills and expertise from construction of Pohang, Gwangyang plants• Experience and human capital provide foundations for excellence in steel, environment, energy plants
Major advantages
Providing a total solution for engineering & construction
Success in construction, civil engineering, housing, city development
Business diversification into environmentally friendly projects such as water desalination,
offshore plants, new renewable energy
Large-scale international city development projects, overseas plants
Business Portfolio.. E&C
CoreFamily
Import of LNG, operation of Gwangyang LNG terminal, SNG business, CDM business
Major businesses
A leader in low-carbon green growth through our energy business
Development of energy resources overseas : Oil & gas development beginning with central Asia
Power generation: LNG combined cycle power plants, residual gas power plants
Fuel cell energy : Claimed to be next generation energy
Renewable energy: Creation of wind, tidal power, solar energy
Waste energy : Rotary hearth furnace energy(RHF), waste water sludge
Business Portfolio.. Energy
CoreFamily
Engineering, process automation, IT services
Major businesses
Leading the Age of Convergence with the provision of IT & engineering services
Expansion of IT convergence business
Entry into new growth areas such as LED lighting, smart grid, cloud computing
Secured key competencies in environmentally friendly industries, railroads & transportation,
renewable energy, radioactive plants
Business Portfolio.. ICT
CoreFamily
• International trade: steel, metal, machinery, chemicals• Resource development : Gas field developments in Miyanmar• International investment : International projects & operation of investment company
Major businesses
POSCO family & Daewoo International’s global infra network
Daewoo International’ joined the POSCO family in 2010. This general trading company has a history of 40 years,
trading with over 100 global network cells, 6,000 channels and 3,000 items
Increase of steel sales, development of steel raw materials
Develop mineral resources for new materials, a new growth area for POSCO
Business Portfolio.. Trade
CoreFamily
Hot-rolled products include hot-rolled coil, which is formed out of hot strip mills, and hot-rolled sheet, which is
made by cutting hot-rolled coil. Some of the hot-rolled coils from hot strip mills are sold as finished products
or used as intermediate materials for cold-rolled coils and electrical steel to be reprocessed later into high
value-added products. The industrial application of hot-rolled steel is diverse, as it is very strong and
corrosion-resistant as well as being easily welded and highly workable.
Pipes, beams, automotive frames/wheels, containers, etc.
Hot-rolled Steel
Major Product.. Hot-rolled Steel
MajorApplications
Plate products generally refer to steel plates with a thickness of 6mm or thicker. While they are mainly used
for vessels, bridges, large structures, and shipbuilding plates, usage also includes a wide variety of special
applications such as extremely low temperature containers, industrial machinery, and military equipment.
More investment is underway in developing plate manufacturing technologies for welding and offshore
structures, pressure containers and products under severely cold weather conditions to respond to
sophisticated industrial needs.
Ships, bridges, large structures, shipbuilding plates, etc.
Steel Plates
[Major Product] Steel Plates
MajorApplications
Wire rod products are divided into general and special steel. General steel can also be classified into general
wire rods that are used in daily life, like screws and nails, and special wire rods which are used in the
manufacturing of cars, bridges, machinery, submarine cables, etc. Special steel is used to manufacture
automotive bolts/nuts, high-tensile architectural bolts, bearings, springs, piano wire, tire cords, etc. More
advanced products of higher strength and lighter weight are also being developed by POSCO.
Bridge wire, tire cords, architectural structures, springs, etc.
Wire Rods
[Major Product] Wire Rods
MajorApplications
Cold-rolled products are high-quality and high-grade steel products with a flawless surface and superior
formability, which are used in a wide variety of applications ranging from home appliances such as electronic
washing machines and refrigerators to vehicles, industrial machinery, and construction materials. We are
constantly discovering new applications such
as for steel cans and steel houses, and are putting every effort into supplying the most optimum products
that can satisfy customer needs.
Automotive plates, high-end home appliances, metal furniture, etc.
Cold-rolled Steel / Galvanized Steel
[Major Product] Cold-rolled Steel/Galvanized Steel
MajorApplications
Being highly electromagnetic, electrical steel is in ever greater demand as the need for clean energy grows
to support continuing efforts to conserve energy and prevent environmental degradation. This steel is also
called silicon steel, due to its high silicon content, and is divided into grain-oriented and non-oriented steel
sheets according to its magnetic property.
Electrical steel is usually used as iron core material for current transformers, power generators, motors, etc.
Current transformers, motors, power generators, etc.
Electrical Steel Plates
Major Product.. Electrical Steel Plates
MajorApplications
Being strongly corrosion-resistant with its flawless surface, stainless steel products are made from high
value-added special steel that can be used in various applications without extra surface treatment. Stainless
steel is mainly used in kitchenware, automobile parts, and chemical facilities. Ever since it was used in the
construction of Incheon International Airport and the Seoul World Cup Stadium, in particular, its popularity as
a material for building exterior walls and roofs has been rising.
Kitchenware, medical devices, building interiors/exteriors, chemical facilities, car parts, etc.
Stainless Steel
Major Product.. Stainless Steel
MajorApplications
35 35
Thank You!