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Doosan

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Brand Story

Doo(斗) San(山)

Doo(斗) San(山)

Doosan means “The little grains of sand that, all together, add up to make a mighty mountain.” It means great achievements can be made only when everyone involved joins forces. The name represents Doosan’s will to never stop walking until its goals are achieved, making history every step of the way.

[Photo Caption]‘Doosan Il-Doo’ embodies the business philosophy of the Doosan Group and the wisdom of our founder. The sculpture is an actual replica of a ‘Mal’, a container that was widely used in Korea at the end of the 19th century, when the company was founded, to measure and store grains and liquid.

Doosan: Oldest, Fastest Growing Company with 118 Years of History

Doosan: The oldest but fastest company with 118 years of history

Doosan is the oldest enterprise in Korea with 118 years of history. It is also a company that went thorough continuous change and significant growth during the years.

The 118-year history of Doosan began in 1896 with the opening of ‘Park Seung-Jik Store,’ the first modern store in Korea, in Baeogae (Jongno 4(sa)-ga), Seoul. Doosan soon grew into a consumer goods company specializing in beer and other beverages. Following its success in vertical and horizontal systematization of its alcoholic beverage business, Doosan posted an 80% market share in the business during the 1970s and 1980s. During this time, Doosan always topped the list of not only the alcoholic beverage businesses but also many other areas of consumer goods.

Doosan: The oldest but fastest company with 118 years of history

However, Doosan was faced with difficult challenges during the mid-90s due to market saturation and the emerging of cut-throat competition in the domestic market. During this time, Doosan realized that it needed a total makeover based on ‘selection and concentration’ and decided to sell its beer division, the OB (Oriental Brewery), and integrate its multiple subsidiaries under the Doosan Corporation. Such a pioneering move for the future enabled Doosan to solidify its position and become even stronger, preparing it to weather the storm of the financial crisis that hit Asia in 1997 and 1998.

At the dawn of the new millennium, Doosan embarked on a massive transformation to become a global company, developing new growth engines and overhauling its business portfolio altogether. Through a series of successful mergers and acquisitions, Doosan completely transformed itself from a consumer goods company to an ISB (Infrastructure Support Business) provider, specializing in power generation, seawater desalination, construction and engineering, heavy machinery and construction equipment, energy, national defense and production facilities.

In the 2000s, Doosan made momentous inroads into the world market by acquiring Babcock (U.K., 2006), in possession of coal-fired boiler technology, and Bobcat (U.S.A., 2007), a manufacturer of compact construction equipment. At that time, the Bobcat acquisition was the largest M&A deal made by a Korean company in history.

This significant achievement was largely due to Doosan’s insight in corporate values and growth potential of international companies. Doosan’s operational excellence post M&A, and its unique organizational skill of creating harmony between employees from various backgrounds and cultures, also played a great role.

As a result, Doosan is now ranked at the top in seawater desalination and power generation facilities in the world. Doosan has also developed 19 products that won the status of ‘World Class Korean Products’. It has secured global competitiveness in its major business areas.

Doosan has also proven its global leadership in organizational operations. It hired people based on merits irrespective of races and nationalities. It put foreign executives in the positions of top management. The proportion of foreign employees has reached 50%. In addition, Doosan has implemented up-to-date work procedures throughout its global network so that it can compete with any global business conglomerate.

Doosan’s Growth Engine

Doosan’s Growth Engine

Behind the success of Doosan is its unwavering ‘trust in people.’ This was something our founder firmly believed in, who often had said “investment in people makes the foundation for business.” This belief is well summed up in our 2G Strategy (Growth of People, Growth of Business). The 2G strategy has been the driver of our past successes and will guide us through our journey toward prosperity on the global stage. At the heart of the 2G Strategy is the virtuous circle of “growth of people laying the foundation for the growth of the company, and the latter leading back to the former.”

With its trust in its employees and its continuous investment in human capital, Doosan was able to go through bold restructuring and innovative portfolio transformation successfully.

The Future of Doosan

The Future of Doosan

Doosan hopes to become a ‘Proud Global Doosan’, with firm belief and trust in people.

‘Proud Global Doosan’ means becoming a company that every stakeholder is proud of. Our stakeholders include not only the employees and employers of Doosan but also our customers, shareholders and the communities around us. Our vision is to become a company that everyone involved with us can be proud of.

To bring better life to mankind,
For everyone who works for us and for whom we work for,
Doosan continues to walk forward, doing our best every step of the way.