Summary
Doosan Group is the country’s oldest business organization and ranked 17th in its business hierarchy as of 2023. The group’s headquarters, Doosan Tower, is in Euljiro 6-ga, Jung-gu, Seoul.
The company originated from Park Seung-jik Store, established by Park Seung-jik in Jongno-gu, Seoul, in August 1896. In 1946, the company underwent a significant transformation, renaming itself “Doosan Sanghoe.” The name “Doosan” combines “doo” (a traditional Korean unit for measuring grain) and “san” (mountain), symbolizing the company’s philosophy of achieving great heights through collective effort, akin to tiny grains of sand forming a mountain.
Initially focused on distributing grains, Park Seung-jik Store implemented progressive management philosophies based on a people-centered approach, such as attendance records, bonus systems, accounting procedures, and welfare policies. Additionally, Doosan gained a leading position in the cosmetics industry by developing a famous cosmetic brand named ‘Bakgabun’ and obtaining a trademark registration from the Patent Office, thus achieving a top position in the industry.
Park Seung-jik Store, a symbol of modern Korean businesses, was featured in the Guinness World Records as the top company in South Korea. After the liberation in 1945, the acquisition of the Showa Kirin Brewery Co., Ltd. laid the foundation for the group’s transition from distribution to manufacturing. Doosan expanded into brewing and international trade in the early 1950s. During the 1960s, the group further diversified, venturing into construction, food and beverage, machinery, and media and cultural services. By the 1970s, Doosan had firmly established itself as a prominent player in the Korean consumer products and cultural industry market, experiencing significant growth in its construction, machinery, and electronics divisions.
Doosan’s experience in manufacturing, facility management, quality control, and marketing, primarily gained from its beer business, facilitated its expansion into international markets. The group forged alliances with global brands such as Coca-Cola, Kodak, 3M, Nestlé, KFC, and Polo, contributing to the growth of South Korea’s high-quality consumer goods sector and improving the nation’s lifestyle and dietary habits through joint ventures and technology sharing.
As it neared its centennial, Doosan embarked on another significant shift, pivoting from consumer goods manufacturing to focusing on infrastructure. Despite facing the challenges of the IMF foreign exchange crisis, Doosan embraced a spirit of innovation and challenge, adapting to a sustainable business model for continued growth.
Capitalizing on its century-long manufacturing, management, and business expertise, Doosan concentrated on securing new foundational technologies. This strategic move enabled Doosan to enter the global market and establish itself as a worldwide corporation.
Timeline
▲ 1896 = Founded by Park Seung-Jik in Seoul, South Korea.
▲ 1978 = Renamed from OB Group to Doosan Group to represent its diversifying businesses.
▲ 1982 = Founded the OB Bears (currently Doosan Bears), South Korea’s first professional baseball team.
▲ 1998 = Completed the construction of the Doosan Tower in Dongdaemun.
▲ 2001 = Acquired Korea Heavy Industries & Construction (now Doosan Enerbility), expanding into power generation and construction.
▲ 2007 = Acquired three business divisions of Ingersoll Rand in the U.S., including Bobcat.
▲ 2014 = Entered the fuel cell business by merging with Fuel Cell Power and acquiring ClearEdge Power in the U.S.
▲ 2017 = Established Doosan Robotics, producing collaborative robots.
▲ 2018 = Doosan Mobility Innovation (DMI) entered the UAV fuel cell market.
▲ 2019 = Doosan Enerbility developed Korea’s first large gas turbine for power generation.
▲ 2020 = Doosan Fuel Cell built the world’s first and largest byproduct hydrogen fuel cell power plant.
▲ 2021 = Constructed the Doosan Tower in Bundang.
▲ 2022 = Launched Doosan Tesna, specializing in semiconductor wafer testing.
