KG Steel Co., Ltd. (
Korean: KG스틸 주식회사) is a South Korean
multinational corporation that produces steel-related and cold-rolled products.
History
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] The creditors then attempted to sell Dongbu Steel, but had trouble finding bidders.[4] Dongbu Steel then sold off an electric furnace used for steel production.[5] In May 2016, Dongbu Steel was taken off sale.[6] In 2019, the company was acquired by a consortium led by
KG Group companies and Cactus Private Equity.[7]