Republic of Korea

Copper is the oldest material used by man. Since its discovery 8,000 years ago, it has found its way into virtually every aspect of our lives. One Korean company is committed to continuing the long history of this essential material and bringing its applications up to the 21st century.

"When my father returned from Japan in 1968 he was determined to give something back to Korea," says Jin Ryu, chairman and CEO of Poongsan. "With an investment of $10 million, he founded a small copper factory and originated the non-ferrous metals business in Korea that year."

Thirty-four years since its inception, the company has evolved into a billion-dollar enterprise with its reach and importance to the Korean and global economy growing every year.

Originally a small provider in an industry dominated by Western competitors, Poongsan has grown into the world's fourth largest producer of copper-based products.
Ryu Jin Roy, chairman and CEO of Poongsan.

A supplier of coin blanks to the US Treasury, the European Central Bank, and other mints, the reputation and strength of this company ensured overseas success long before most Korean companies could growth on a global scale.

Today, while coinage continues to be an important business for Poongsan - such as supplying commemorative coins for the Korea-Japan 2002 World Cup and the 1988 Seoul Olympics - continuous investments into research and development are opening new doors and markets at home and abroad.

"One of the most exciting sectors for us and Korea in recent years has been the high-tech sector, and Poongsan has been moving aggressively to advance in this field," says Ryu.

The development of sophisticated new alloys, many of which Poongsan holds international patents on, have proved especially useful in the effort to push production towards more value-added products.

These efforts have led Poongsan to become one of the worlds leading suppliers of leadframes, integral in semiconductor and microprocessor manufacturing and development, a sector which in turn has been a driving force behind Asia's current resurgence.

"One of the greatest advantages we have as a company is our personnel," continues Ryu. "They are the ones capable of developing and implementing new technologies and processes that will keep us at the cutting edge of our field. Through the introduction of new and high value added products we will broaden the appeal and use of our products in new and existing industries."

The parallel growth and development of the company and the country has led to the development of a special bond. In keeping with Poongsan's tradition of contributing to the local economy, Ryu has initiated programs designed to advance the welfare and education of local and international children and youth.

For years, Ryu has worked tirelessly to bring Korea to the world, and to bring the world to Korea. He has taken it upon himself to show the world what Korea has to offer. "I was raised in Japan, but I am a Korean," he concludes. "The two countries have so much to offer each other, and so many areas in which they can grow together. All it will takes is the initiative to do so."

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