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June 20 , 2017 Tuesday

Doosan Infracore celebrated its 80th Anniversary

 On June 4th of 2017, Doosan Infracore(DI) celebrated its 80th anniversary. Founded as 'Chosun Machine Works' in 1937 as Korea's first large-scale machinery company, DI holds the history of the Korean machinery industry.

Founded in Incheon, Chosun Machine Works mainly produced defense products including 200-ton class submarines as well as mining machinery, castings, and cast steel. The company was incorporated into the Doosan Group and renamed Doosan Infracore in 2005 after it was previously called Korea Machinery Industries Corp., Daewoo Heavy Industries & Construction, and Daewoo Heavy Industries & Machinery Ltd.

Doosan Infracore began its engine business for the first time in 1958 in Korea by producing marine diesel engines. In 1975, the company had built the largest diesel engine plant in Asia. In 1985, a series of self-developed STORM engines were launched, contributing significantly to the development of the Korean engine industry.

Back in 1977, the company completed an excavator production plant, marking its full-scale entry into the construction machinery market. In 1985, Doosan Infracore ended its technical alliance with a Japanese manufacturer and succeeded in developing its own excavator model (SOLAR) with its proprietary technology. In 1987, it opened overseas markets for Korean excavators by exporting its SOLAR excavator series to the Netherlands.

For the past 40 years since its first production of construction equipment in 1978, Doosan Infracore has produced about 210,000 construction machines in Korea, including excavators and wheel loaders. Including the construction machinery produced in China and Europe, the figure jumps to almost 380,000. According to an official at Doosan Infracore, "You could move Mt. Halla (the highest peak in South Korea) to another location if you excavated it twice using all the construction equipment that Doosan Infracore has produced thus far."

In 2016, Doosan Infracore ranked sixth in the global construction machinery business with an annual sales amount of US $4.93 billion, largely due to the growth of its subsidiary, Doosan Bobcat, recovery in the Chinese excavator market, and its better-than-expected performance in emerging markets. Its global market share reached a record high of 3.8% in 2016.

"Doosan Infracore's history has been in line with the history of the Korean machinery industry," said Dongyoun Sohn, CEO of Doosan Infracore. "We will continue to expand our line of business through new products and services based on ICT and big data technology in order to emerge as a robust centenarian company within two decades."

Doosan Infracore will hold a celebratory concert on the afternoon of June 8th at Incheon Global R&D Center for its employees and their families. It will also feature an exhibition of historic photos and memorabilia at Incheon Plant until the end of the month. Last March, the company held a marathon race participated in by more than 600 employees to mark the beginning of the 80th anniversary celebrations.


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