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DB Group, formerly Dongbu Group, is a conglomerate based in Seoul, South Korea. DB is engaged in insurance, financial services, and manufacturing businesses. It was established in January 1969 as Miryung Construction Company, Ltd. by Kim Jun-ki. [1] [2]
Dongbu Electronics acquired Anam Semiconductor's foundry operation from Amkor Technology for 114 billion South Korean Won (US$ 93 million) in 2002. [4] Dongbu HiTek was established in 2007 as a result of the merger between Dongbu Electronics and Dongbu Hannong Chemical, both of which are subsidiaries of Dongbu Group. [5]
In 2013, the Korea Development Bank attempted to restructure the Dongbu Group, but its attempts resulting in slumping business. [1] Dongbu Steel reached an agreement with creditors to undergo a debt workout program. [2] Creditors tried to support Dongbu Steel with a variety of measures such as 600 billion won in support. [3]
In May 2019, the KG Group established a special purpose corporation (SPC), KG Steel, by investing funds from group affiliates (such as KG Chemical and KG ETS), in order to take a 40% controlling stake in Dongbu Steel. It formed a consortium with Cactus Private Equity, a South Korean private equity fund, to finish the transaction.
DB Insurance, which was launched as Korea's first public auto insurance company in 1962, became a member of Dongbu Group in 1983 and changed its name to Dongbu Insurance in October 1995. [ citation needed ] On November 1, 2017, the company changed its name to DB Insurance in order to become a global insurance finance company.
Winia Electronics, formerly named Daewoo Electronics, is a South Korean home appliances company and a member of South Korean Winia Group.Established in 1971, it has since grown into a global business with more than 64 production sites, research and development and sales centres in more than 40 countries worldwide.
Was CEO of the Lotte Corporation: 40: Bang Jun-hyuk: 1.1 billion: Netmarble: 41: Chang Pyung-soon: 1.1 billion: Kyowon Group See also. The World's Billionaires;
Location of South Korea. South Korea is a sovereign state in East Asia, constituting the southern part of the Korean Peninsula. [1] Highly urbanized at 92%, [2] South Koreans lead a distinctive urban lifestyle; half of them live in high-rises [3] concentrated in the Seoul Capital Area with 25 million residents [4] and the world's sixth-leading global city [5] with the fourth-largest economy [6 ...