Honorable shareholders and customers,
It was seventy years ago, in 1937, that Chosun Machine Works opened its doors as Korea’s first ever full-scale machine factory. That was the humble beginning of Doosan Infracore, which now serves as the backbone of Global Doosan on the basis of the widespread recognition of Korea’s best machine brand. Doosan Infracore produces not only construction equipment, including excavators and loaders, but also a full range of diesel and gas engines for diverse industries. It is now emerging as a global leader in those areas faster than any other company has ever done before. Doosan Infracore boasts the longest corporate history of Korean machinery suppliers and, more importantly, it is recognized as the country’s best machinery manufacturer in the market. In 2005, Doosan Group acquired the company and renamed it Doosan Infracore, which has continued to achieve remarkable growth ever since. Most notably, Doosan Infracore acquired Bobcat, a world leader in compact construction equipment, in 2007 as part of its global expansion strategy. The synergistic effects of the acquisition have continued to gain momentum since then.
Externally, Doosan Infracore aims to become the best machinery supplier in the world; internally, it places top priority on ‘fostering the best people.’ Indeed, what sets Doosan Infracore apart from all other machinery suppliers around the world is the company’s unrivaled passion and devotion to helping its people grow in every respect possible. In fact, Doosan Infracore seeks to achieve corporate growth through the growth of its employees. Therefore, it continues to enhance its systematic arrangements, ensuring a virtuous cycle between the two. The ‘Doosan Way’ prescribes how Doosan people should perform at work to become eventual winners. Doosan Infracore also advocates authentic care toward its employees, and treasures harmony among them above all else. It believes that only teams composed of highly competent yet genuinely caring people can deliver on their commitments on a sustainable basis.
Doosan Infracore’s other distinct characteristic is the fact that it is actually equipped with an incredible level of ‘diversity’ and ‘dynamism.’ In addition to the acquisition of Bobcat, Doosan Infracore has made a few more ‘dynamic’ merger and acquisition deals, and in the process has emerged as a genuinely global company where employees from diverse national and cultural backgrounds join forces to achieve their common goals. This diversity of its employees only adds to the company’s dynamic vivacity. Meanwhile, the strong culture of open communication favored by the company transcends all the discomfort stemming from its employees’ differences in race, language and culture. The company’s well-established corporate culture serves as a melting pot for all these variations.
As a responsible ‘corporate citizen,’ Doosan Infracore continues to expand its involvement in the welfare of the communities to which it belongs. Through the establishment of good corporate governance, Doosan Infracore has taken the lead in the implementation of completely transparent, ethical business management practices in the country. Doosan Infracore is also conducting its CSR (Corporate Social Responsibility) activities in a more systematic and strategic way through the effective identification and management of business risks. Doosan Infracore continues to enhance the virtuous cycle of its own growth and the growth of its supplier companies through a variety of innovative measures. It has also taken on leadership roles in increasing the growth potential of upcoming generations and local communities. Doosan Infracore is also active in engaging in diverse environmental protection measures, including actions designed to halt climate change. All these efforts represent Doosan Infracore’s sincere desire to make significant contributions to enhancing the sustainability of human society from a broad, comprehensive perspective, instead of being complacent with the level of shared growth between businesses. In that sense, Doosan Infracore does not and will not spare efforts to open up a new chapter in the quality of human life.
Lastly, all of us at Doosan Infracore greatly appreciate your continuous interest in and support for our progress as a proud global company through our implementation of the Doosan Way, which makes Doosan Group uniquely decent, our commitment to open communication based on genuine respect for diversity, and our devotion to the fulfillment of our CSR as a highly respected corporate citizen.
Doosan Infracore Co., Ltd.