Dongkuk Coated Metal Co. (Dongkuk CM), the cold-rolled steel business unit of South Korea's Dongkuk Steel Group, announced on Wednesday that it opened a European branch in Eschborn, Frankfurt, Germany.
The new branch, inaugurated on Tuesday, will allow Dongkuk CM to better serve its clients in Europe, a key market accounting for 40% of the company's colored steel sheet exports for construction materials, a company official said.
Eschborn's strategic location bordering nine European countries and its proximity to an international business district were key factors in choosing the site.
Germany is home to half of the world's major exhibitions, providing Dongkuk CM with valuable access points.
Leveraging market research indicating demand for high-end colored steel sheets like its Luxteel brand, Dongkuk CM plans to increase exports of premium products to meet the needs of advanced construction projects in Europe.
The European branch will also play a crucial role in ensuring Dongkuk CM's compliance with the European Union's Carbon Border Adjustment Mechanism (CBAM) and other evolving green export regulations while bolstering the company's regional sales strategy and service offerings.
With the addition of the European branch, Dongkuk CM now boasts a presence in five countries, including existing operations in India, Mexico, Thailand, and Vietnam.
The company has set a target of expanding to eight bases across seven countries by 2030.
Write to Hyung-Kyu Kim at
khk@hankyung.com
