Table of Contents

2 CEO Message

4 About Doosan
A History of Transformation
An Explosive Growth Record
Global Expansion that Extends Our Reach
The Doosan Credo
Sponsorship

16 Our Businesses

52 Corporate Social Responsibility

66 Financial Review

72 Korea/Global Network
Doosan has selected “ ” as the corporate slogan, which is
based on the conviction that companies must contribute to humankind and help to shape
the future. All Doosan employees now embrace this slogan, and we continue to enhance
our capabilities as a global company through our unique value and philosophy.

Doosan is working at this very moment to provide the basics necessary for improving
the quality of people’s lives. You are invited to watch how we are helping to shape the
future for all.
CEO Message

Extending our sincere gratitude to our shareholders and

customers for their unwavering love and support for us,
we pledge to be a global company that you can be proud of.
To our esteemed shareholders and customers
Doosan, South Korea’s first modern corporation, has undergone many changes over the past 123 years.
In particular, in the latter part of the 1990s, we pursued rapid change through bold, unprecedented
innovations, achieving remarkable growth. Doosan’s global competitiveness has enabled it to establish
worldwide operations with 40,000 employees in 36 countries.

Behind our great success is a venturesome, entrepreneurial spirit. This pioneering spirit that has driven us
to journey into unknown territories remains deeply embedded in our DNA. For the past 123 years, Doosan
has lived with great passion. Despite being the oldest company in Korea, our vibrant mindset keeps us
young and unafraid of change.

Based on our solid business portfolio, Doosan has delivered robust and healthy growth. We keep a close
watch on changing market trends to identify new growth engines. Furthermore, we are committed to
achieving innovation and technology excellence, which will give us a strong competitive edge in the
market and help us take our next great leap forward.

Doosan People impose no limits to our aspirations and possess true tenacity and drive, and therefore
have the capability to utilize every available means to achieve our goals. Based on our people-oriented
management philosophy, Doosan strives to become a “caring group of powerful people,” who will lead the
way to a brighter future for the company.

Doosan’s focus on maximizing our shareholder value will remain firm. After switching to a holding
company structure, Doosan has achieved greater transparency and stability in governance structure. We
strive to establish a board-centric model of corporate governance throughout the entire corporation,
including the holding company as well as all of its subsidiaries.

Even at this very moment, all of our employees from around the world do their utmost to maximize
corporate value and deliver customer satisfaction, as we strive to become a “Proud Global Doosan.” For a
company with over 100 years of history, we also believe that it is our obligation to set good examples for
others to follow and thereby have faithfully fulfilled our corporate social responsibilities.

We are here today thanks to the confidence and trust our shareholders and customers have in us.
Our objective is to become a company that every shareholder and customer can be proud of.
That is a commitment we solemnly pledge to all of you.

Thank you very much.

Chairman and CEO of Doosan Group

Jeongwon Park
03
About Doosan
 A History of Transformation

About Doosan Korea's Oldest Enterprise Industrial Construction), a company specializing in

Doosan is Korea’s oldest business organization with a power generation and desalination, in 2001, followed
Our Businesses proud history of 123 years. Doosan began in 1896 as by the Korea Development Corporation in 2004 and
Korea’s first modern retail business, known then as the Infracore (formerly, Daewoo Heavy Industries &
Corporate Social
Responsibility
Park Seung-jik Store and has grown and developed for Machinery), a company specializing in construction
more than a century. machines and equipment, in 2005. These acquisitions
Financial Review allowed Doosan to extend its business portfolio from
A Journey of Dynamic Change and Innovation consumer goods to include industrial infrastructure,
Doosan’s history represents a story of dynamic construction machinery and equipment, and
change and growth. In 1946, Chairman Too Pyung production equipment.
Park renamed the Park Seung-jik Store as the Doosan
Mercantile Company, marking the start of our modern In 2007, Doosan Infracore acquired U.S.-based
history. We diversified into brewing and international Bobcat, the world’s No. 1 compact construction
trade in the early 1950s and into construction, food & equipment company, to emerge as a global maker
beverages, machinery, media and cultural services in of construction equipment ranging from compact to
the 1960s. By the 1970s, Doosan was well established large models.
as a leader in Korean consumer products and culture-
related businesses and our construction, machinery, Digital Transformation
and electronics businesses entered high-growth stages. Doosan is expanding its business domain by
During the 1980s, we focused on becoming international combining digital technology with the conventional
while also venturing into publishing and advertising. In manufacturing business. We are simultaneously
the 1990s, operations were divided into three business paving the way for future manufacturing in
sectors: information & retail, consumer products, and preparation for the 4th industry revolution through
high-tech materials. the companywide digital transformation initiative.

In 1995, one year before our 100th anniversary, we A New History as a Top-tier Global Enterprise
began to rigorously restructure with an aim to reinvent Having taken over several domestic and foreign
ourselves for the 21st century. We sold flagship affiliates, companies that possess original technologies or are
including OB Beer, improved profitability by integrating likely to boost synergies with its existing businesses,
23 affiliates into 4 companies (Doosan Corporation, Doosan now operates 23 affiliates and 109 subsidiaries.
Doosan Engineering & Construction, Doosan Packaging Doosan generates 66% (as of 2018) of its total sales
and Oricom) and introduced advanced management from overseas operations as it has developed markets
systems. overseas and forged technical alliances.

A Shift in the Business Portfolio We vow to continue innovating without remaining

With a better financial health and improved cashflows, complacent with our current achievements. We are
Doosan has accomplished remarkable change and also committed to offering outstanding products and
growth through the acquisitions of new growth services that our customers will trust and be proud of
engines since 2000. Doosan acquired Doosan Heavy so we may grow as a global corporation collectively
Industries & Construction (formerly, Korea Heavy with customers.
Sales growth
(In trillions of KRW)

1998 2018

3.4 18.2

07
 An Explosive Growth Record

About Doosan Average Annual Sales Growth : 10% Development of New Growth Engines
Doosan underwent a restructuring, which expanded its Doosan is committed to developing new businesses
Our Businesses portfolio and achieved remarkable growth. and technologies for the next 100 years. By entering
Sales (KRW 3.4 trillion in 2000) reached KRW 17.2 the fuel cell business in 2014, which is a new and
Corporate Social
Responsibility trillion in 2018, increasing at a 10 percent compound renewable energy, we are leading the global fuel cell
annual growth rate (CAGR). This achievement was market for power generation. We are developing new
Financial Review made possible through the simultaneous pursuit of business fields such as gas turbines, offshore wind
both organic and inorganic growth. power, and battery foils in connection with Doosan’s
existing businesses. We are also concentrating on
Exploration of Overseas Markets for Power and new businesses such as collaborative robots that work
Water with people, and hydrogen fuel cell for drones that
As a global player in power and water, Doosan Heavy
drastically increase the flight time of drones.
Industries & Construction has led the growth of

Transition to a Holding Company Structure for

Doosan Group by actively exploring overseas markets

Sustainable Growth
in the Middle East, India and Southeast Asia. Doosan
Heavy Industries & Construction has also secured
Doosan has maintained constant growth by
core source technologies for power plant equipment,
carrying out successful restructuring and switching
such as boilers and turbines, by acquiring foreign
its business portfolio. With the parent company
businesses, including Babcock UK and Skoda Power,
-Doosan Corporation-at the center, the whole
in the Czech Republic. We are widely recognized
group has implemented even more transparent
as the world’s No. 1 in desalination technologies.
corporate governance, and has secured stable,
Our overseas orders have been growing steadily,
longterm foundations for growth by focusing on core
accounting for over 70 percent of the all new orders
businesses and developing corporate values.
received by the mid-2000s. Furthermore, new orders
reached a historic high of KRW 13.9 trillion in 2010.

Global Transition through Portfolio

Diversification
Doosan Infracore has also grown remarkably
through years of mergers and acquisitions. In 2007, Sales (In billions of KRW)
the Company acquired Yantai Yuhua Machinery Ltd.,
a major Chinese wheel loader manufacturer. In the 2000 3,400.0
same year, Doosan Infracore also completed the
acquisition of Bobcat, the global leader in compact 2005 11,740.9

construction equipment. This acquisition enabled

us to become one of the world’s major construction 2010 24,603.7

equipment manufacturers. Moreover, the company

acquired Moxy Engineering A.S., a Norwegian 2018 18,172.2

articulated dump truck maker, successfully

I n accordance with the Korean International
advancing into the mining equipment market. Financial Reporting Standards (K-IFRS)
10
Annual sales growth
rate since 2000

09
 Global Expansion
that Extends Our Reach

About Doosan Accelerating Globalization construction machinery category. In particular, the

Our diverse business portfolio allows us to improve Doosan Bobcat skid steer loader boasts the top
Our Businesses the lives of people around the world. Meanwhile, our steer loader in the world. The steam generators of
drive for global expansion is accelerating, thanks to commercial nuclear power plants and the forged-
Corporate Social
Responsibility
our talented workforce of 39,400 employees (as of steel reinforcing rolls for thick-plate rolling mills have
the end of 2018) in 36 countries. been selected as government-designated world-class
Financial Review products.
Doosan is employing 22,300 workers in 109
worksites around the world. In 2018 through global Ongoing Investment for Stronger Competitiveness
management, we created over KRW 12.286 trillion We continue to strengthen operations and expand
in sales, or 60% of our total sales, from overseas the business network by hiring and training
operations. globally competent talent. We are also adopting the
International Financial Reporting Standards (IFRS) as
Efficient Networks that Span the Globe part of our commitment to operating on the global
Doosan’s production plants span the globe from the stage and adhering to global standards.
U.S. and Europe to Asia. Our production facilities are
closely linked with the Korea-based headquarters
and global R&D and engineering networks based in
the U.S., India and Europe to ensure that customers
worldwide receive top-quality products, technology
and services.

Global leader recognized by the World

Doosan is vaulting forward to become a leader in
power generation, water, construction equipment, Overseas vs. Korea Revenues (Unit: %)
and construction.

88 34
Doosan has emerged as a global EPC contractor in Korea
the power plant segment. At the same time, Doosan
is internationally recognized as the world’s foremost
builder of seawater desalination plants. We are now
entering the multi-effect distillation (MED) segment,
thereby furthering our market dominance.

Doosan boasts a business portfolio that meets

Overseas 12 66
customer needs by offering a full line of products
ranging from small to large-sized machines in the ’98 ’18
Our global workforce

39,400
in 36 countries

11
 The Doosan Credo
The values and philosophy that drive our growth

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

The Doosan Credo with, Doosan. Every employee takes great pride
The Doosan Credo is a set of principles that in being a member of Doosan. Each customer
represent Doosan’s philosophies and our unique recognizes and appreciates Doosan’s high-quality
way of doing business. These principles have goods and services. Every shareholder values our
been the foundation of Doosan’s success for fair and high levels of profit.
the past century. The Doosan Credo is integral
to every aspect of our business and people, Core Values
clearly guiding our decisions and the way we do Doosan People practice the nine core values of
business. Through the realization of these values, the Doosan Credo everywhere we operate, every
Doosan accomplishes its ultimate goal. The day, to build a “Proud Global Doosan”. These
Credo consists of Doosan’s “Aspiration” and “Core values guide the way we do business, the way we
Values”. treat each other and the way we work with all of
our partners. The nine core values of the Doosan
Aspiration Credo are as follows:
Doosan’s ultimate goal is the creation of a
People / Cultivating People / Integrity and
“Proud Global Doosan”. In our Vision, each of
Transparency / Inhwa / Customers / World-
our employees and all of our stakeholders will
class Technology and Innovation / Profit / Social
benefit from, and be proud of their association
Responsibility / Safety and Environment
Strategy
Doosan's strategy is based on the principle of “2G”-
Growth of Business by Growth of People. 2G is a
virtuous circle in which people drive business growth,
which in turn provides our people the opportunity
for advancement.

Doosan believes that sustained success can only

come through people. People have been the
foundation of our success for the past century and
will help us build our next hundred years. Such
trust in our people lies at the very heart of Doosan's
management philosophy.

Doosan People
Doosan People are those who keep the Doosan
Credo in their hearts and practice Doosan’s distinctive 13
traits everywhere they operate.
Traits of Doosan People are as follows:
 Sponsorship
Promoting the Doosan brand through
sports sponsorships

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

The Open Doosan Match Play Championship

The Open is a time-honored and prestigious Since 2008, Doosan has held the Doosan Match
golf championship that was launched in 1860, Play Championship to support the development
making it the oldest tournament in the history of golf in Korea. The Doosan Match Play
of golf championships. It will celebrate its 149th Championship is an annual tour that is managed
anniversary this year and is one of the world’s four by the KPLGA and hosted by Doosan at the
major men’s golf championships. LADENA golf club in Chuncheon, Gangwon
Province. The championship has been the only
Since 2010, Doosan has officially sponsored match play among the KLPGA tours.
The Open to promote the Doosan brand. We
feature The Open-themed advertisements at the The match play is conducted as the tournament
championships to promote Doosan’s products and type whose results come out immediately after
technologies, and present our slogan ‘Building the match, adding to excitement and easy
your tomorrow today!’ to promote the Doosan understanding and making it greatly popular with
brand identity and project a reliable corporate galleries.
image.
Major League Baseball ® (MLB ®) FC Viktoria Plzen

Since 2017, Doosan has carried out various marketing Doosan expands the value of its brand by supporting
programs aimed at boosting our brand recognition in FC Viktoria Plzen, a prestigious football club in
the U.S. and establishing our global market presence Europe, the home of football.
after signing an official sponsorship agreement with
the Office of the Major League Baseball. FC Viktoria Plzen is the most prestigious football club
in the Czech League, and has won the Czech regular
In addition, as a sponsor of the New York Yankees TM, season championship and advanced to the finals of
Doosan sponsors the team to carry out programs for the UEFA Champions League.
strengthening our customer contact points. American Uniforms with the Doosan logo on and the exclusive
professional baseball, which was established stadium named ‘DOOSAN Arena’, the FC Viktoria
as a popular sport in the 1860s, is run with the Plzen is effectively advertising the Doosan brand in

15
participation of 15 teams in the American League TM the European market.
TM
and 15 teams in the National League . Every year
these teams play diverse matches, bringing joy and
excitement to myriad fans around the world.

Major League Baseball trademarks and copyrights are used with permission
of the applicable MLB entities. Visit MLB.com
Our Businesses
 Doosan Heavy Industries & Construction
Changing the world with cutting-edge technology
and expertise

About Doosan
Korea’s Leading Company in the Plant Business Renewable Energy for Our Future Business
Our Businesses Doosan Heavy Industries & Construction is Korea’s Doosan Heavy Industries & Construction continues to
leading producer of the machineries and equipment. identify and seize new growth opportunities in the
Corporate Social We offer a wide variety of industrial products and high value-added sector of power plant retrofits and
Responsibility facilities ranging from basic industrial materials such as services, while strengthening our core businesses at
castings and forgings to equipment and components the same time. We are a leader in developing clean coal
Financial Review for thermal, nuclear and wind power plants as well as technologies, wind power generation and other
transport and environmental facilities to our global next-generation energy technologies.
customers in the plant business. Furthermore, our
technologies and construction capabilities to execute The Company completed a demonstration of the
plant construction, civil engineering and other WinDS3000TM, a 3MW-class offshore wind power
largescale projects as a general contractor have been generation system in 2010, and acquired international
widely recognized at home and abroad. certification from DEWI-OCC, a world-renowned
international wind power validation agency.
A Global Leader in Power and Water Since winning the first order for a 9MW-class wind
Doosan Heavy Industries & Construction, a global farm project in Sinan, South Jeolla Province, in 2010,
leader in power and water, has received large-scale the Company has successively acquired EPC projects to
engineering, procurement and construction (EPC) construct the 30MW-class Tamra offshore wind farm as
projects in the Middle East, India and Southeast Asia Korea’s first offshore wind farm project and the 24MW-
since 2006, solidifying its position as a global EPC player class Yeongheung Wind Power Complex 2. We acquired
in the power plant sector. Also, we have won orders for the 5.5MW-class offshore wind power technology in
30 desalination plants across the Middle East, including 2017. We then expanded the wind power generation
in Saudi Arabia, the UAE, Kuwait, Oman, and Qatar since lineup in 2018 as we were selected as the lead entity for
1978, enjoying the largest market share in the world. The the state-led project to develop the 8MW large-capacity
amount of fresh water produced daily in these plants offshore wind power generation system.
is about seven million tons, sufficient to meet the daily Additionally, the Company is making great strides in
water requirements of 24.5 million people. the eco-friendly, high-efficiency technology market by
winning Korea’s major 1000MW-class ultra-supercritical
Boost in Global Business Competencies (USC) thermal power plant projects.
Doosan established Doosan Power Systems with In 2016, the Company acquired 1Energy Systems, a
Doosan Babcock in the UK and Doosan Škoda Power in U.S.-based company that owns the original technology
the Czech Republic in a bid to go after the power plant for energy storage systems (ESS), which guarantee a
market in Europe and the Americas. In May 2009, we stable power supply from renewable energy sources.
completed a large-scale plant complex in the Dung The company was then renamed Doosan GridTech.
Quat industrial park in Vietnam to fabricate parts for
generators, material-handling systems, and water
2018 BG/BU divisional sales (In billions of KRW)
desalination facilities. To secure capacity to win new
orders in the Indian market, the Company acquired 2,679.8
Chennai Works, a maker of boilers for thermal power
plants located in Chennai, the largest city in southern
India, in 2011, and took over German-based Lentjes in
a bid to secure proprietary technology for eco-friendly 1,668.2
power facilities.
1,129.0
In 2012, Doosan purchased the water treatment
specialist, Enpure, strengthening our capabilities in the
reverse osmosis area and expanding our involvement
in the water treatment business. And, in 2013, Doosan
established global R&D centers in the UK, the Czech
Republic, and Saudi Arabia to gain a competitive edge Plant EPC Power Nuclear
in the technology sector, and concentrated on building Services Power Plants
I n accordance with the Korean International
up the company’s global technology capacity. Financial Reporting Standards (K-IFRS)
Total power generation
capacity

191.2 GW

19
 Doosan Heavy Industries & Construction

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

Business Group EPC power plant technology, offering solutions for cleaner,
more efficient power plants. We have also made great
Doosan Heavy Industries & Construction has been strides in the market for environmentally-friendly
working as an EPC contractor for power plant projects, technology facilities such as circulating fluidized-bed
providing a comprehensive package that includes the (CFB) boilers and desulfurization systems.
engineering, fabrication, procurement, installation,
and commissioning processes. Doosan has laid the Turbines & Generators
groundwork for expansion by winning large-scale
projects in the Middle East, India and Southeast Asia . Doosan provides highly efficient, durable turbine
In 2016, we won orders for Vinh Tan 4 extension generators to its global customers. Our technological
coal fired power plant in Vietnam, Fadhili combined- prowess is recognized worldwide. After acquiring
cycle power plant in Saudi Arabia, and Obra-C and Škoda Power in the Czech Republic, which owns
Jawaharpur coal-fired power plants in India, among source technologies in steam turbines, we have been
other big projects. In 2017, we signed a provisional manufacturing and supplying proprietary
agreement on the EPC provision for the Thabametsi steam turbines to our global customers. In 2011, we
coal-fired power plant in South Africa. In 2018, we successfully tested turbine generators for the
concluded an MOU on the construction of Jawa coal- massive GHECO-One coal-fired power plant project in
fired power plants Nos. 9 and 10 in Indonesia. We also Thailand. The equipment was designed and fabricated
signed an agreement to construct a Samcheok thermal exclusively with in-house technologies, paving the way
power plant in the same year. All this proved Doosan for expanded exports worldwide in the future.
to be one of the strongest players in the EPC market. We succeeded in the fabrication and supply of gas
turbines, which is considered as requiring the most
Boilers sophisticated power generation technology, for the
first time in Korea. We have been making bold
Doosan Heavy Industries & Construction has become investments in large gas turbine development with
a global leading company that possesses proprietary the goal of introducing an exclusively developed
technologies and a strong track record in boilers and gas turbine model in 2019 based on our world-class
core power plant equipment since acquiring U.K.- technologies. In 2017, we acquired ACT Independent
based Babcock and German-based Lentjes. We enjoy Turbo Services, a U.S. gas turbine service provider,
world-class competitiveness in the area of thermal to establish Doosan Turbomachinery Services.
This acquisition has laid the foundation for us to Nuclear Power Plants
make inroads into the global gas turbine service
market, which is expected to grow to 210 GW by Doosan has earned international recognition by
2030, and has allowed us to apply ACT’s gas turbine supplying reactor vessels, steam generators and key
service capabilities and knowhow to our gas turbine components for nuclear power plants not only in Korea,
technology development. but in the U.S. and China. In 2008, we won orders to
supply six reactors in support of the first new nuclear
Performance Improvement & Services plant construction in the U.S. in 30 years. Doosan is also
participating in the UAE’s nuclear power plant project
The plant performance improvement and services - South Korea’s first exports of nuclear reactors - as
business features a wide scope of high value the main equipment supplier. In 2011, the Company
services—encompassing retrofits, overhaul, repair successfully supplied the main equipment – including
and maintenance, and fuel conversion—which are the APR1400 reactor, the new Korean standard light-
performed with the goal of increasing the reliability water reactor, and steam generators – to Shin Kori
and efficiency of existing power plants. Compared to Units 3 and 4. It also completed the development of
the new-build power plant market, which is sensitive technology for the design and production of the MMIS
to economic fluctuations, the services market has a and RCP, which were core technologies that Korea had
bigger growth potential. Doosan Heavy Industries & not hitherto developed independently, and introduced
Construction has identified the high growth potential the technologies to Shin Hanul Units 1 and 2, thus
of the services sector against the backdrop of ever- achieving 100 percent domestic development and
tightening environmental standards to regulate production of core facilities for nuclear power plants.
carbon dioxide emissions and particulate matter, In the near future, Doosan Heavy Industries & Construction
and has been making efforts to nurture its power will continue making strides toward becoming the global 21
plant services business as a new growth engine for champion of the nuclear power business by successfully
the company. Based on existing technology and carrying out the production and replacement of main
capabilities, Doosan strives to further expand its equipment for nuclear power plants, and expanding its
technological capabilities to offer specialized power service business, while stepping up efforts to develop
plant services that meet customers’ needs as a technology for the nuclear plant decommissioning market,
"Total Solutions Provider". which is projected to be worth 440 trillion won by 2050.
 Doosan Heavy Industries & Construction

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

Business Group Water of pre-treatment facilities in the water business in

2012, and thus laid a solid foundation to make inroads
Doosan Heavy Industries & Construction is the world’s into the water treatment market. In 2015, it acquired
No. 1 player in the seawater desalination market, the ‘Al Ansab’ sewage treatment plant project in Oman,
and possesses fundamental technology in all three and the Bellozanne sewage treatment plant project
desalination methods, namely Multi-Stage Flash (MSF), in the U.K. And in 2017, we signed an agreement with
Multi-Effect Distillation (MED), and Reverse Osmosis Korea South-East Power to supply the system designed
(RO), as well as a strong track record in projects based for Zero Liquid Discharge of desulfurization wastewater
on such technologies. (ZLD), an eco-friendly water treatment technology. We
In 2010, we signed an agreement to build the Ras also signed an agreement to supply a water treatment
Al Khair Phase 1 plant in Saudi Arabia, which will plant in Birmingham, U.K. In 2018, we secured an order
ultimately become the largest desalination plant in for a seawater desalination plant in Sharqiyah, Oman.
the world, with a capacity of 228 MIGD. In addition, we With these projects, we are growing as a total solution
completed construction of the world’s largest single- provider in the water business sector.
unit MED plant in Yanbu in 2011.
In 2016, we expanded our presence in the field of
Castings & Forgings
reverse osmosis (RO) desalination, as we won the
contract for the first phase construction of the RO Doosan boasts the world’s highest capacity when it
desalination plant in Doha, Kuwait. comes to castings and forgings. The company also has
The Company is operating R&D centers in Seoul, the technology to provide top quality materials that
Changwon (Korea), Dammam (Saudi Arabia), Tampa satisfy specifications in a number of different fields,
(U.S), and Birmingham (U.K) to actively conduct water- such as power plants, steelmaking, mold steels,
related research and technology development. toolmaking, mining and cement manufacturing.
The Company acquired Britain-based Enpure, which In the nuclear power plant supplies market, we have
possesses technology for the design and production further increased our competitiveness by developing
new technologies for mega-sized, mono-block Doosan Babcock possesses proprietary technology to Subsidiaries
castings and forgings. In 2014, we succeeded in design, engineer and construct dust coal combustion
producing 650-ton ultra-large ingots for the first time boilers, a major product line in the world’s thermal
in Korea and only the third time in the world. In 2017, plant boiler market.
we constructed the world’s largest 17,000-ton forging
press to procure a future growth engine. Furthermore, Doosan Škoda Power
we are exploring new business lines, including high-
quality molded steel and ultra-large forging materials. Doosan Škoda Power is a 150-year-old Czech-based
company that designs and manufactures steam
Doosan Power Systems turbines and other power facilities. Doosan Škoda
Power possesses proprietary technology in steam
Doosan Power Systems S.A. is a holding company of its turbines and has provided about 2,000 units to
subsidiary in Europe. thermal and nuclear power plants. By acquiring
Doosan Power Systems offers various shared services Doosan Škoda Power in 2009, Doosan has been able
such as finance, IP, and legal services for the operations to produce boiler-turbine-generator packages.
of Doosan Babcock in the U.K., Doosan Škoda Power in
the Czech Republic, and Doosan Lentjes in Germany. Doosan Lentjes
The Company also executes marketing and business
activities in the European power generation market, Doosan Lentjes in Germany owns numerous
including Turkey and Poland. proprietary high-end green technologies, such as 23
circulating fluidized bed combustion (CFBC) boilers,
Doosan Babcock desulfurization systems (FGD, SCR, and filter), and
waste-to-energy (WtE) plants, and is supplying facilities
Doosan Babcock is a world-class company with almost developed based on these technologies to customers
130 years of history in the power equipment field. around the world.
 Doosan Heavy Industries & Construction

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

Subsidiaries Doosan Enpure Doosan Power Systems India

In 2012, Doosan acquired Enpure, a water Our power-related business in India has become
treatment specialist. The British engineering firm important, and every effort is now being made
is equipped with advanced design and fabrication to bolster our presence in this so-called “second
technologies, particularly in the use of reverse home market.” Therefore, our four Indian
osmosis for preliminary water treatment, and subsidiaries, which include Chennai Works, were
boasts an extensive and diverse project record. merged into a single entity called Doosan Power
This acquisition reinforces Doosan's capabilities in Systems India. Following a localization strategy,
the RO area and provides a platform for advancing DPSI’s competencies are being strengthened in
further into the water treatment market, providing the production of supercritical boiler pressure
customers with distinct solutions to address their parts, engineering design, project management,
specific needs. procurement, construction work, and process/
quality control. The goal is to maximize growth
Doosan IMGB and profitability by securing competitiveness in the
Indian market over the mid-to-long term.
Established in 1963, Doosan IMGB is the largest
forging and casting company in Romania, equipped Doosan Vina
with a 12,000-ton press and capable of producing
140,000 tons a year. We have unsurpassed Doosan Vina is a global production base inside
competitiveness in the world market for power the Dung Quat Industrial Complex in Vietnam
plant castings and forgings and mostly export our completed in May 2009 after more than two years
products to Europe, the Americas, China, and the of construction. Doosan Vina has five production
rest of Asia. plants and is fully equipped with its own port and
harbor facilities. These plants produce boilers, (ESS). This has enabled the Company to secure
desalination plants, and transportation facilities. topnotch systems in the ESS industry and exclusively
Local engineers are now being cultivated and conduct all relevant processes ranging from the
efficiency raised to match the productivity of the engineering to the installation and commissioning
Changwon plant. of energy storage systems.

Doosan HF Controls Doosan Turbomachinery Services

Doosan HF Controls specializes in the design and In 2017, Doosan Heavy Industries & Construction
construction of digital instrumentation and control acquired ACT Independent Turbo Services,
(I&C) systems for diverse power and industrial a U.S. company with advanced gas turbine
applications. The company has obtained the U.S. service technologies, and established Doosan
Nuclear Regulatory Commission Safety Evaluation Turbomachinery Services. Thanks to this acquisition,
Report and Germany’s TUV Safety Integrity Level-3 the Company was able to secure a bridgehead to
certification, ensuring the precise and safe control advance into the U.S. gas turbine service market, a
of nuclear power plants and other large-scale 16 GW market annually. Doosan Turbomachinery
industrial plants. Services is planning to expand into not only North
American and Korean markets but also the Middle
Doosan GridTech East and European markets, by leveraging its global
network. 25
In 2016, Doosan Heavy Industries & Construction
established Doosan GridTech by acquiring 1Energy
Systems, a U.S.-based company that owns the
proprietary technology for energy storage systems
 Doosan Infracore
Leading the way in innovating the machinery industry.

About Doosan A Global Leader in Construction Equipment The Company is working to expand the provision of
Doosan Infracore is a world-class machinery maker, solutions that use information and communication
Our Businesses providing top-quality products and services in the technology (ICT) and to combine construction
business areas of heavy construction equipment equipment with unmanned/automated technologies,
Corporate Social
Responsibility (such as excavators and loaders), diesel and gas with an aim to establish a leading position in the
engines, and attachments. Doosan Infracore is a future construction equipment market and explore
Financial Review leading innovator in the machinery industry, and new business opportunities in the ever-changing
continues to bolster its products competitiveness and global business environment.
market presence through continuous technology
and quality innovation. In 2018 in bauma CHINA, we unveiled the world’s
first 5G communication-based construction machine
Continuous Expansion of Global Market Share remote control technology. We demonstrated the
Doosan Infracore’s prominent technologies, high- remote control of an excavator in Incheon, about
quality products and exceptional services have 880km away from the 5G remote control station (control
raised customer satisfaction and thereby increased center) installed at the exhibition hall in Shanghai. It
our global market share. In the 2019 Yellow Table was the first time in the world that a remote-control
Survey conducted by KHL, a U.K.-based construction- demonstration of a real construction machine of this
industry media group, Doosan Infracore ranked length was executed not through virtual simulation or
ninth in the world. LAN control.

The Company is firmly leading the Korean

construction equipment, and industrial diesel
engine markets, and Bobcat, one of its affiliates, 2018 BG/BU divisional sales (In billions of KRW)
is maintaining the top share of the U.S. market for
7,197.7
compact construction equipment. Together with
such excellence, we continue to increase our market
share in the large construction machinery in the
Doosan
advanced markets of North America and Europe. Bobcat
Also, the Company is striving to find new growth 3,942.8

opportunities in emerging markets, including the

CIS, Southeast Asia, and Africa.
Heavy
3,254.9
Securing Global Technology Development 532.3
Capabilities & Product Quality
In the face of the fourth industrial revolution, Doosan Construction Engines
Infracore is making continuous investment in Equipment
I n accordance with the Korean International
developing high-tech smart equipment and solutions. Financial Reporting Standards (K-IFRS)
Operating profits In 2018
(In billions of KRW)

848.1

27
 Doosan Infracore

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

Construction Equipment Attachments

Since its inception 40 years ago, Doosan Infracore Geith is one of the world’s leading producers of
Construction Equipment has grown into the industry attachments. Founded in 1959 in Slane, Ireland, Geith
leader with the biggest market share. In 1985, we has expertly navigated this dynamic industry ever since.
launched solar excavators with our own technology. The brand is recognized as a leader in the development
Through continuous technology development, we of heavy and compact excavator, wheel loader and
continue to release products that surpass the ever track loader attachments used in construction, drilling,
increasingly strengthening global environmental demolition and steel scrap handling sites.
regulations. We are constantly exhibiting products
that are equipped with a variety of solutions required Doosan ADT
by customers, and with enhanced performance, fuel
efficiency, and convenience. We have proven their Doosan ADT operates an R&D Center and factory in
excellence by winning the Red Dot Award. Elnesvagen, Norway. The company delivers articulated
dump trucks (ADTs) in the 30- to 40-ton range to
Doosan Infracore has large-scale manufacturing its customers worldwide, based on the proprietary
facilities in Korea, China, and Norway, with out technology. ADTs are indispensable at large mining
network of sales subsidiaries, branches and dealers sites and construction sites on difficult terrain.
spanning the globe, firmly establishing Doosan
Infracore as a major global player. Our global
business network has been further expanded
through our continued cooperation with Doosan
Bobcat, a subsidiary company.
Engines meeting all requirements, and it is being mounted on
Bobcat equipment and Doosan forklifts.
The Engine BG of Doosan Infracore started making In 2017, we signed an agreement with a forklift company
marine diesel engines in 1958, for the first time in Germany, home to engines, to supply the G2 engine.
in Korea. Since then, we have leveraged our R&D At the end of 2017, we established a joint venture with the
capabilities and production technology to maintain our no. 1 company in agricultural machinery industry in China.
position as the industry leader in Korea. We completed In 2018 we signed MOUs with an agricultural machinery
a large-scale plant for mass-producing diesel engines company in Italy, a forklift company in China, and a
in 1975. Ten years later, we developed a diesel engine defense company in Indonesia. This established our
model with our own technology, thereby strengthening position as a global engine corporation.
our front-running position in the industry.
We develop new products to respond to the
We completed development of a low-emission diesel increasingly strengthening regulations on exhaust
engine model in 1995, followed by a CNG engine emissions in each nation.
for commercial vehicles in 1998. In the 2000s, we In 2016 we launched the DX-9C series in response to
developed and supplied LNG engines for power China’s enforcement of tier 3 exhaust regulations. DX-9C
generators, common rail diesel engines, Euro 6 CNG boasts more than 15% higher fuel efficiency compared
engines and Tier 4 Final engines for construction to the existing models, and outstanding durability. At

29
equipment. the end of 2016, we successfully developed the Euro
6 engine that met the strongest requirements among
In 2012, we constructed a small G2 engine factory that is the EU’s regulations on diesel gas emissions. Our Euro 6
capable of producing 100,000 units a year. engine offers 10~19% higher fuel efficiency compared to
The Doosan G2 engine boasts eco-friendly, high fuel other engines, and boasts an enhanced output with the
efficiency, high performance, and low-cost features, removal of the exhaust gas recirculation (EGR) system.
 Doosan Bobcat
Leading the world in compact construction equipment market

About Doosan A global leader in compact construction equipment mini excavators, all-wheel steer loaders, mini track
market loaders, and Toolcats, which have been leading the
Our Businesses Doosan Bobcat is the world’s leading company of global market.
compact construction equipment, with its R&D, sourcing,
Corporate Social production and sales units headquartered in North Diversification of regions and product portfolio
Responsibility Dakota in the U.S. and Dobris in the Czech Republic. Its Doosan Bobcat has established and is implementing
products are widely used in various areas, including marketing strategies for the expansion of its compact
Financial Review construction, industry, landscaping and agriculture. equipment markets so that we may add to emerging
Doosan Bobcat has maintained its leadership position markets such as China and India, as well as to its
in the compact construction equipment market, existing principal business regions of North America
based on its extensive network of over 1,000 dealers and Europe by establishing production bases in
that sell tough, versatile products that can be paired Suzhou, China and in Chennai, India.
with over 450 attachments.
In 2017 we successfully launched Earthforce, a Skid
Doosan Bobcat is always trying to be a trustworthy Steer Loader (SSL) product specific to the market
company through close communications with in China. In 2018, we acquired a backhoe loader
its customers and excellent services that exceed plant in Chennai, India. As such, in order to pioneer
customer needs. new markets in emerging market regions with high
growth potential and to expand our market share, we
Market-leading competitiveness are strengthening our product line-up. In addition,
We pledge to be a global leader in the compact we are concentrating on securing new growth
equipment industry. Based on its extensive networks engines by expanding the product coverage in the
and on the outstanding capabilities of its dealers North American and European markets with existing
with a wide range of knowledge of its products, competitive advantages.
Doosan Bobcat has long been a leader in the compact
construction equipment market. To secure competent Our steady investment in the innovation of products
dealers, the company recruits new dealers every year resulted in the continuous production of new products
based on its market coverage roadmap, and provides such as the R-series. We are poised to launch various
dealer incentive programs and various marketing new products such as the compact tractor, small
activities, which have led to greater market share. articulated loader (SAL), and the compact wheel loader
It is also planning to introduce differentiated dealer (CWL) to strengthen our market leadership.
management programs, such as big data analysis tools
and dashboards for construction equipment industry A global leader in technology development and
data analysis. product innovation
As one of the global leaders in compact equipment,
Its product competitiveness involves not only the Doosan Bobcat strives to develop future-oriented,
strong performance of its products but also the innovative technologies in preparation for ever-
versatility offered by attachments. There are more changing business environment and global mega-
than 450 attachments available in over 100 categories. trends. We are focusing on portfolio diversification for
The Bobtach technology offers an attachment products and regions to ensure sustainable growth
interface that allows for the easy exchange of centering around the Acceleration Center, which is
attachments, providing great efficiency. North America’s R&D hub, and around the Czech
Innovation Center, which is the hub of Europe and
The outstanding competitiveness has been crucial Middle East markets. We are also concentrating on
in the success of Doosan Bobcat’s major products, developing new products that incorporate various
including skid-steer loaders, compact track loaders, new technologies such as unmanned technology.
No.1 market share in the global
compact construction equipment

No. 1
market

31
 Doosan Engineering & Construction
Moving forward to build a better world, a brighter future

About Doosan A general construction company with a 59-year Creating a Beautiful Future
history Doosan E&C faithfully fulfills its corporate social
Our Businesses Since its establishment in 1960, Doosan Engineering responsibility, which has become an increasingly
& Construction has been growing in parallel with the important duty for any business operation, as well as
Corporate Social history of Korea’s construction industry. The Company for our own business. We are enhancing transparency
Responsibility has made astonishing achievements in the building in every aspect of our business and promoting win-win
works, civil engineering and plant engineering sectors partnerships with our suppliers, and conducting fair
Financial Review by banking on its extensive know-how and outstanding trade based on mutual trust.
technology, while striving to emerge as a leader of
Korea’s construction industry. In addition, we continuously conduct various activities
such as support and raising awareness for the treatment
A Competitive Professional in Housing Projects of children with cancer, as well as the Habitat Campaign,
Doosan E&C’s flagship brand, “Doosan We’ve” continues which utilizes the advantages of the construction industry
to grow to become a leading apartment brand of Korea to ensure the sustainable development and future
in the 21st century thanks to the unwavering support of competitiveness of the community. In doing so, we are
its customers, and is gaining stronger ground in urban creating a better society.
redevelopment and apartment complex reconstruction
projects on the back of its robust brand power. Business Portfolio
Doosan E&C has successfully executed mega-scale
Civil Works roads, highways, railways, subways, tunnels,
projects to construct high-end commercial-residential
ports, airports, environmental plants
building complexes not only in the Seoul metropolitan
area but also in major metropolitan cities such as Busan Building office buildings, commercial facilities,
Works public facilities, hotels, resorts,
and Daegu. Notably, the 80-story Haeundae Doosan
residential facilities
We’ve the Zenith, Korea’s tallest residential building
located in Haeundae, Busan, has demonstrated once
again Doosan E&C’s technological excellence to the world.

An infrastructure solutions provider that is

2018 Sales by Business (In billions of KRW)
creating a better world
Doosan Engineering & Construction is strengthening its
position by accumulating construction achievements based 1,175.2
on its abundant experiences in the civil engineering field, its
ability to design and plan, and its ability to construct.
The Company has built the longest high-speed
rail lines in Korea and has a proven track record in
constructing subway lines across the country. Most
notably, Doosan constructed Section 909 of Seoul’s
Subway Line 9 using a large diameter shield for the first
time in Korea, opening a new chapter in the country’s 321.8
construction history. Furthermore, Doosan E&C boasts a
strong competitive edge in Korea’s construction industry
51.2
in the privately funded project field. The Company took
part in the construction of the Shinbundang Line, Korea’s
first metro project proposed by a private sector, and Civil Building Other
implemented the entire project from construction to Works Works Businesses

route planning and operation of the line, consolidating its I n accordance with the Korean International
leading position in the transportation infrastructure sector. Financial Reporting Standards (K-IFRS)
2023 Sales target
(In trillions of KRW)

2.9

33
 Doosan Engineering & Construction

About Doosan

Our Businesses

Corporate Social
Responsibility

Financial Review

Civil Works Doosan E&C also boasts a wealth of experience

and capabilities in the engineering, planning
Doosan E&C carries out engineering, construction, and execution of Privately-Funded Infrastructure
repair and maintenance work for a wide range of (PFI) projects as a leader of the PFI sector. Some
civil engineering projects, including high-speed rail of the company’s most successful PFI projects
lines, subway lines, expressways, bridges, industrial that are either ongoing or completed include the
complex site preparation, landfills, and port facilities. Shinbundang rail line, which is the first privately-
Based on its experience and technical expertise funded metro project in the Seoul metropolitan area,
gained from carrying out large-scale projects, the Gangnam Beltway and the upgrade of the West
Doosan E&C is leading the way to preserve the Suwon-Euiwang Expressway. With its outstanding
environment and enrich the future for everyone. civil works, the company has contributed to the
development of the national economy and helped
The company has played a vital role in building safe improve the overall quality of life for everyone.
and convenient transport systems in Korea, including
subways, which essentially serve as the legs and feet Furthermore, we have performed various
of the people; high-speed trains, which guarantee environment and industry infrastructure projects
faster and more pleasant trips; and tunnels, which based on EPC and possess second-to-none
significantly reduce traveling time and distance. With its capabilities in the field. Based on our high-quality
record of building the longest high-speed rail extension services in project planning, design, construction
in Korea, Doosan E&C has established itself as Korea’s and operations, we plan to broaden the scope of our
leading company in the civil engineering industry. environment-related business.
Building Works Doosan We’ve , a leading apartment brand in Korea,
has gained a strong competitive edge in urban
Blending its advanced technological prowess, redevelopment and apartment reconstruction
superb creativity and exquisite aesthetic styling, projects and built high-rise residential and
Doosan E&C creates spaces of high artistic value commercial buildings in major provincial cities
while ensuring its buildings harmonize with the such as Busan and Daegu as well as in the Seoul
surrounding environment to make the world a more metropolitan area. Notably, Haeundae Doosan
beautiful place. In the Intelligent Building System (IBS) We’ve the Zenith, an 80-story commercial-residential
field, which constitutes state-of-the-art technology, building with a height of 300 meters, and the
Doosan E&C has constructed a number of landmark Ilsan We’ve the Zenith, Korea’s largest commercial
buildings ranging from hotels, resorts and public residential building complex housing a total of 2,700
facilities with artistic value, to large-space culture households, have further elevated the stature of
and sports facilities that have changed the urban Doosan E&C as the front-runner of mega-skyscraper
skyline and landscape, based on its outstanding projects.
technology and execution capability. Combined with
the experience it has accumulated in the course
of executing such projects, Doosan Engineering &
35
Construction is striving to transform our cities into
pleasanter, ever more habitable environments.
 Holding Company and Other Affiliates
Enhancing corporate value through advanced
corporate governance

About Doosan Doosan has established a more transparent The Doota Duty Free store opened at Doota, a
and advanced governance structure to ensure landmark of the Dongdaemun area in Seoul, in the
Our Businesses compliance with global standards and deliver first half of 2016. It provides an exciting shopping
business continuity. The Doosan Group’s parent experience to customers, and it is leading the
Corporate Social
Responsibility
company, Doosan Corporation, is generating profits development of Dongdaemun.
through its seven businesses including Electronics,

Financial Review
Industrial Vehicles, Mottrol, Fuel Cell, Distribution, We are striving to develop new businesses such as
Biotechnology, and Digital Innovation. Doosan Robotics, which manufactures collaborative
robots in the era of the 4th industrial revolution,
To enhance the competitiveness of its existing and Doosan Mobility Innovation that enables long-
business lines, Doosan Corporation acquired the distance drone flight based on fuel cell technology.
Luxembourg-based electrodeposited copper foil
manufacturer Circuit Foil and the U.K.-based Rushlift In the service sector, Doosan maintains close contact
forklift rental service in 2014, while it sold SRS Korea with its customers through Oricom, Korea’s foremost
(KFC) and Doosan Dong-A. It also acquired ClearEdge specialist in brand management; Doosan Magazine,
Power and established its Fuel Cell business through Korea’s leading publisher of trendsetting magazines;
a merger with Fuel Cell Power. Doota Mall, a fashion shopping center; the Doosan
Bears, a professional baseball team; Doosan Mecatec,
Doosan Electro-Materials is producing high-quality a chemical process equipment manufacturer; and
copper clad laminate (CCL), a core material for Neoplux, a leading investment firm in Korea that
printed circuit boards (PCB), which are used in smart employs top-notch financial experts and exceptional
devices, semiconductors, automobiles and electronic methods to raise corporate value; and Doosan Cuvex,
appliances, as well as core electronic materials for which specializes in deluxe golf resorts and provides
OLED displays, and is supplying them to the world. facility management and maintenance services.

Doosan Industrial Vehicle is recognized as a leader

in the forklift truck market, while its next-generation 2018 BG/BU divisional sales (In billions of KRW)
forklift truck was awarded the grand prize for its
868.5 869.6
ergonomic design. 829.9

Doosan Mottrol has achieved world-leading

594.3
competitiveness in the markets for travel and swing
devices for heavy construction equipment and
hydraulic pumps.

Doosan Fuel Cell is making concerted efforts to 225.1

become the world leader in the fuel cell market

for residential, mid-to large-sized buildings and
power generation applications, by overcoming the
limitations of traditional power generation methods Electro- Industrial Mottrol Digital Other
Materials Vehicle Innovation Businesses
and increasing energy efficiency based on its
I n accordance with the Korean International
excellent technological capabilities. Financial Reporting Standards (K-IFRS)
37
 Doosan Corporation
Offering innovative solutions and differentiated values

About Doosan Electro-Materials plant in Changshu, China, as well as local subsidiaries

and branch offices in the U.S., Japan, Hong Kong,
Dominant Leader in Electronic Parts
Our Businesses Singapore, Vietnam, China and Taiwan.
Doosan Corporation Electro-Materials supplies high-
Corporate Social quality copper clad laminate (CCL), the core material In July 2014 we acquired Circuit Foil Luxembourg
Responsibility of printed circuit boards (PCB) and OLED displays, based in Luxembourg, completing the whole process
worldwide. Its main products include flexible CCL for including the manufacture of copper foil, the core
Financial Review use in handsets, tablets and other high-performance raw material of diverse devices. This has enabled us
mobile devices; eco-friendly CCL for use in computers, to make a coordinated response to the procurement
LCD, handsets and other digital devices; CCL for PKG of raw materials, the production of our products, and
in semiconductors; and CCL for the network boards of even customer services.
servers and other items of communication equipment.
Our customers include handset manufacturers such Doosan’s CCL products have obtained not only
as Samsung, Apple, LG, and Xiaomi; the world’s best certifications such as the Korean KS, U.S. UL, British BSI,
memory semiconductor companies including Samsung Canadian CSA, German VDE, and Japanese JET, but also
and SK Hynix; and the world’s leading electronic ISO 9001 and ISO 14001, attesting to their excellent
companies such as Qualcomm, Cisco, and Sony. quality around the world. We use the technologies and
capabilities we have accumulated in our flexible CCL,
Domestically, we operate manufacturing plants and package CCL and other high-end businesses to expand
research centers in Jeungpyeong, Gimcheon, Iksan, and into the energy sector and other new business areas.
Yongin, while overseas we operate a manufacturing
We are committed to further consolidating our market In Europe, global major battery manufacturers such
position as an electronic material manufacturer in line as LG Chem and Samsung SDI are investing heavily in
with the growth of global companies and markets production lines.
for mobile communication handsets, computers
and digital electronic appliances, and sophisticated Upon completing our cell foil plant in Hungary, we will
networks, thus increasing the demand for copper clad emerge as the only cell foil manufacturer in Europe,
laminate (CCL) and OLEDs. and we will be able to respond quickly to the rapidly
growing demand among electric car battery makers
Copper foil is an essential raw material for the with production bases in Europe.
production of CCLs, for which demand is rising amid
the increasing high-performance of smartphones and Furthermore, we produce fuel cell electrodes, a core
other electronics. part of the fuel cell that produces electricity and
Doosan Corporation uses the copper foils of Circuit Foil heat through an electrochemical reaction between
with high technological prowess to boost the value- hydrogen and oxygen in the air.
added of its CCL products.
In 2018, we began mass producing electrodes
Further, we will complete the construction of a plant in for industrial and commercial fuel cell systems
Hungary in 2020 in order to mass produce the copper- which require high efficiency and long-term stable
foil cell foil for use in electric car batteries, one of Circuit performance. We supply electrodes to Doosan
Foils’ products. Corporation Fuel Cell, boosting our business synergy.

39
 Doosan Corporation

About Doosan Industrial Vehicle In addition, we are committed to improving the design
capabilities of our research and development staff and
High-performance Material Handling
Our Businesses Equipment
developing pioneering technologies to deliver reliable
and excellent quality to our customers.
Corporate Social Doosan Industrial Vehicle BG is Korea’s leading
Responsibility material handling equipment maker. We started to Thanks to these efforts, in 2018 we exhibited our
produce the nation’s first forklifts in 1968 and have products at the Design Awards organized by Korea
Financial Review since grown into a global player with production Association of Industrial Designers (KAID), winning
facilities in Korea, Germany and China, and sales awards in the categories of Best of Best (BR18S-9,
subsidiaries in the U.S., Belgium and the UK. We electronic stand-up type forklift) and Pin-up Best
are now exporting forklifts to over 100 countries. 100 (GC25S-9, LPG engine forklift). In 2019, both the
In particular, the company has consolidated its GC25S-9 and BR18S-9 won the IF Winner Awards
domestic market leadership with over 50% market simultaneously at the IF Design Awards in Germany,
share. proving excellence of our product.

We place the highest importance on customer To achieve the vision of “Total Logistics Solution
satisfaction and top-tier quality. We have established Provider,” Doosan Industrial Vehicle is continuously
a quality control system that has received ISO 9001 pushing for operational innovation, proactive
certification for rigorous quality control and used this development of eco-friendly technology, and
system to build a quality assurance infrastructure expansion of downstream businesses (rental/used
and help our partners produce higher quality parts. products/service).
Mottrol Product.” The company has significantly contributed
to enhancing the nation’s defense capabilities with
Globally-recognized Parts Maker
its modernized defense equipment, by developing
Doosan Mottrol boasts a history of more than forty hydraulic devices and systems.
years and is Korea’s best specialist manufacturer
of hydraulic parts, with the monthly production While pursuing operational excellence based on
capacity of over 30,000 travel and swing devices, its stable management structure, the company is
main hydraulic pumps, and main control values operating a R&D Center with the aim of securing
for construction heavy equipment. It has obtained leading advanced technology. And it founded
world-class quality and Environment, Health, and Doosan Hydraulic Machinery Limited China in 2011
Safety (EHS) management systems, including the to expand its production base globally.
ISO 9001 Quality Management System, KSD 0050-
9000 Defense Quality Management System, AS Doosan Mottrol is channeling its capabilities to
9100 Aerospace Quality Management System, ISO present a new vision in the hydraulic parts sector.
14001 Quality Management System, and OHSAS The company’s goal is to strengthen its business
18001 Safety and Health Management System. competitiveness based on its world-best quality,
price, and R&D competencies so as to emerge as a
Its excavator travel device was selected by the global top-tier producer of hydraulic parts.
Ministry of Industry and Energy as a “World-Class

43
41
 Doosan Corporation

About Doosan Fuel Cell with loading despite the large capacity. It is also the
A Technological Leader in Eco-Friendly best eco-friendly power generation technology that can
Our Businesses Power Fuel Cells compensate for unstable systems of renewable energy
generation forms such as solar and wind power.
Corporate Social Doosan Fuel Cell, which boasts the original technology
Responsibility of fuel cells for power-generation, buildings, and Doosan has established fuel-cell automation
households, engages in manufacturing eco-friendly production bases in South Windsor, Connecticut, USA
Financial Review power-generation equipment. Doosan Corporation and in Iksan, Jeollabuk-do, South Korea to respond to
started the fuel cell business in 2014 by securing the the continuously growing fuel cell market. Doosan Fuel
original technology. Cell, which is the No. 1 player in the power-generation
fuel cell market, is also aiming for the market leader in
Fuel cells are an eco-friendly power generation source polymer electrolyte membrane fuel cells (PEMFC) for
with high power generation, heat efficiency, and households and buildings.
outstanding stability. They do not emit air pollutants
such as SOx, NOx, and fine dust, which pose a serious Doosan Fuel Cell vows to help achieve self-
social issue. In addition, fuel cells are a small-scale, independence in the securing of energy and foster
highly efficient power generation source suitable small and medium-sized firms, as well as to lead the
for the trending distributed power generation. They way in promoting the global fuel cell market based on
can produce clean energy in cities without additional its outstanding technology for fuel cells, as it embraces
installation of transmission lines. In particular, Doosan government policy.
phosphoric acid fuel cells (PAFC) can quickly keep up
Retail convenient shopping environment as well as young,
The K-Wave Shopping Hub in Korea sophisticated K-style products and thematic zones.

Based on their wide experience and deep Doota Mall, Korea’s leading fashion mall, is visited
understanding of multinational customers, the by some eight million local and foreign shoppers
Doota Duty Free store and Doota Mall—major annually. The sevenstory fashion mall houses
shopping and tourist destinations in Dongdaemun over 300 various boutique stores that sell a wide
that make your lifestyle much more enjoyable—look range of products, providing a perfect onestop
beyond the district to the global market. shopping experience. As a trendy, premium
fashion powerhouse, Doota Mall is always trying to
The Doota Duty Free store, which is operating provide the most pleasant and efficient shopping
over 700 brands at Doota, a landmark of the environment by keeping facilities up to date to
Dongdaemun area, pursues a distinctive concept deliver the highest level of customer satisfaction.
reflecting the unique local features of Dongdaemun
and the changing needs of duty-free customers. Doota Mall aims to provide customer satisfaction
through its innovative business strategies: Doota
The Doota Duty Free store provides a pleasant Mall became the first fashion mall to offer a
and trendy shopping experience to customers fixedprice system, install information centers for
by offering the benefits of great prices in a foreign visitors and deploy floor managers.

43
 Doosan Corporation

About Doosan Bio by the Ministry of Knowledge and Economy in

Specialized in Functional Biotechnology December 2008. Since the completion of the
Our Businesses Materials Chengdu joint venture in June 2013, we have been
accelerating our business expansion in China.
Corporate Social Doosan Corporation Bio is a time-honored
Responsibility company, with a history of 123 years. We focus on In addition, we seek to keep enhancing our major
producing and selling functional biotechnology products, including functional cosmetic materials
Financial Review materials. (ceramides), functional foods (PS) proven to be
effective in cognitive ability improvement, and
Bio develops and supplies various new bio natural lecithin derived from soybeans (Soy PC), to
materials, including those for pharmaceutical further expand our business in overseas markets
applications, functional foods and cosmetics using such as Europe and the U.S.
our specialized technological capability in the field
of functional materials. High growth will be maintained by enhancing the
competitiveness of core businesses and constantly
Of note, we have established a stable business developing high value-added business lines
foundation by focusing on the Chinese market, and new products. We will leverage the optimal
spurred by our specialty in lipids, such as an business portfolio to become one of the world’s top
emulsifier for medical use (PL95) which was selected biotechnology companies, providing differentiated
as a world-class product for the next generation value to customers.
Doosan Digital Innovation services such as AI, Deep Learning, and RPA to help
The IT service supplier that leads the way in accelerate the digital transformation of Doosan
promoting digital transformation affiliates. We will continue our efforts to bolster
technological capabilities and field services, as well
Doosan Digital Innovation offers total IT services to as to improve customer satisfaction.
the affiliate companies of Doosan Group, including
digitalization service, development and operation It has established three global IT centers, in
of applications, and construction and operation of the Americas (DDI America in 2011), China (DDI
platforms and IT infrastructure. China in 2011) and Europe (DDI Europe in 2014),
consolidated the Group’s IT workforces and
We are also developing infrastructure and fostering infrastructure, and created maximized customer
professional manpower to support the digital value by elevating the global competitiveness of the
transformation of Doosan affiliates. affiliates as it transforms into a global integrated IT
provider.
We are striving to offer IT services designed to
effectively help boost customer values. Through
WOW (Way of Working), we pledge to provide
services from the viewpoint of customer experience
and design. We also vow to offer new technological

45
 Doosan Robotics
A Leading Company in the Collaborative Robot Market

About Doosan Doosan Robotics is a manufacturer of collaborative experts in the industry. Doosan’s cobots are capable
robots (cobots). With the advent of Industry 4.0, of world-class performances—demonstrated by
Our Businesses the collaborative robot market is expected to see the robotic arms’ maximum work envelope of 1.7
substantial growth in the coming years. meters, a payload of 15 kilograms, and an efficient
Corporate Social Unlike conventional industrial robots, cobots can collision detection sensor that guarantees the safety
Responsibility work alongside humans without barriers, allowing of nearby humans.
humans and robots to perform their tasks in the
Financial Review most efficient way, and thus increase productivity. In addition, the robots’ high-performance, multi-
axis torque sensors make the machines suitable
In addition, the robots’ compact and lightweight for carrying out more sensitive processes that
features make it easier to automate the previously required the dexterity of human hands.
manufacturing process without the need to make Doosan’s cobots received the Red Dot Design
major changes to the production layout. By using a Award two years in a row—in the “Interface & User
smart device called a teach pendant, users can easily Experience” category in 2017 and the “Product
install and program the robots, thereby maximizing Design” category in 2018.
their benefits while working side by side with them.
Doosan Robotics is firmly committed to establishing
Doosan Robotics developed its cobots’ hardware a leading position in the market through its
and software in-house, incorporating the continuous R&D efforts and investments, and to
professional knowledge of prominent scholars and lead the growth of the market.
Doosan Mobility Innovation
Specializing in hydrogen fuel cells for mobility

When Doosan Mobility Innovation was established The drones equipped with the hydrogen fuel
in 2016, it developed the hydrogen fuel cell power cell power pack can fly for more than 2 hours,
pack using hydrogen for drones, offering high being able to perform jobs in various industries
efficiency energy. that battery-powered drones cannot. This long
endurance flight boosts work efficiency and
The aforementioned hydrogen fuel cell power industrial growth. Furthermore, it is eco-friendly
pack for drones uses hydrogen for high-density because it uses hydrogen, which is an alternative
energy, enabling drones to make a longer flight raw material for clean energy.
compared to the existing battery-powered
drones. Furthermore, we constructed the We vow to continue our efforts to research and
hydrogen supply network to ensure the uniform develop innovative products, and to become a
supply of hydrogen, otherwise it will be very reliable enterprise for customers. We are further
difficult for customers to refuel the hydrogen. As committed to enabling customers to gain easier
such, we are carrying out the hydrogen business access to hydrogen, thus leading the way in
by placing a high value on customer satisfaction further developing the mobility industry involving
at the forefront. the hydrogen economy and drones.

47
 Doosan Mecatec
Global top tier CPE Fabricator possesses the state-of-the-art technologies.

About Doosan Established in 1964, Doosan Mecatec supplies the technology skills and know-how earned by over
total range of static equipment; from pressure 50 years of experience, Doosan Mecatec has an
Our Businesses vessels, reactors, towers and heat exchangers to oil, extensive track record of delivering hydroprocessing
gas and petrochemical plants. Based on its world- reactor made of vanadium modified alloy steel as
Corporate Social
Responsibility
class manufacturing facilities and accumulated well as the world's heaviest and longest pieces of
fabrication technologies, Doosan Mecatec has been static equipment.
Financial Review standing firmly as a leading CPE fabricator in the
market. Doosan Mecatec is also expanding its business area
in a critical equipment sector of the petrochemical
Doosan Mecatec is leading the static equipment plant market which is primarily dominated by a few
market as a preferred partner of global EPCs and fabricators, and shall make its utmost endeavor to
major energy/oil/gas companies in MENA, North improve its technology and services.
America, Asia and Europe. Through its proven
Neoplux
Your Best Partner for Greater Corporate Value

Neoplux, established in April 2000, has become a value and help them grow. Neoplux enhances their
leading investment firm in Korea by employing top- corporate value by leveraging its tried-and-tested
notch financial experts and exceptional methods for business knowhow and its global competence.
raising corporate value. The firm boasts particularly One of Neoplux’s key investment principles has
strong competitiveness in venture capital PE (Private been to seek win-win partnership with its portfolio
Equity) projects both inside and outside Korea. companies in the long-term perspective, rather
In the venture capital area, it seeks out startups than focusing on short-term investment results. Its
and small companies endowed with innovative and top priority is to create greater value for investors
creative technologies but lacking in capital, and and portfolio companies based on Inhwa and open
provide them with capital. Neoplux offers them communication with stakeholders.
business consulting and help them establish a
quality management system along the business Neoplux, backed by a team of top-notch
development path, so that they can enhance their professionals and world-class investment
competitiveness and growth prospects. competencies, continues to raise its goals and
advance, thereby building trust in partnerships. It
The private equity business entails the acquisition is also committed to fulfill its role and responsibility
of equity stakes or controlling interests in medium- as a trusted investment company that is honest and
sized or large corporations in order to boost their transparent and that maximizes corporate value.

49
 Oricom
An emerging General Content Group, IMC IDEA
group

Oricom was established in 1967 as Korea’s first general

advertising company. The Company has been elevating
the brand values of domestic companies by providing
Integrated Marketing Communication (IMC) services such as
advertising through the four major mass media channels -
media, promotion, brand consulting and digital marketing.

About Doosan
Oricom is an IMC IDEA group with a vision to become
a “general content group.” Our capabilities to provide
Our Businesses differentiated, optimal marketing solutions and
communication ideas based on integrated ideas have been
Corporate Social widely recognized in the market.
Responsibility

Hancomm
Financial Review

General advertising company that boasts

strengths in organizing large-scale events and
digital advertising

Hancomm, established in 1983, is a major general

advertising company that, along with Oricom, has led the
development and growth of Korea’s advertising industry. It
became an affiliate of Doosan Group in 2015.

Hancomm has been recognized not only for its advertising

capabilities on the four major mass media channels, but also
for digital advertising and the organization of large-scale
events, including the Seoul International Fireworks Festival,
an annual event held in October in the Yeouido area, and
energy and automobile exhibitions held locally and globally.

Doosan Magazine
Trend-Setting Media Company in Korea

Doosan Magazine is a publisher of high-end magazines

that present new perspectives on trends and styles through
top-rated media brands in the fields of fashion, beauty,
and lifestyle. Doosan Magazine publishes four magazines
– Vogue, GQ, Allure and W – under an exclusive license
agreement with Condé Nast, a world-famous media group.

It also creates various types of content optimized for

websites, mobile, social media and other digital platforms.
Doosan Magazine provides integrated communications
solutions that can help raise one’s brand values, based on its
advanced capabilities for content creation and its audience,
expanding beyond its traditional role as a media company.
Doosan Bears
Korea’s Favorite Professional Baseball Club

The Doosan Bears team was crowned the Korean baseball

champion in the first season of the professional baseball
league in 1982. They have won five championship titles
(1982, 1995, 2001, 2015, and 2016), maintaining their
reputation as a prominent baseball team in Korea. In the
2016 regular season, the team won 93 games, and in the
same year, they won the Korean Series in four consecutive
games—setting a new record in Korea’s professional
baseball history.

Doosan’s support for prospective baseball talents includes

the completion of Bears Park in Icheon in 2014, where
they can concentrate on developing their baseball skills. In
addition, communication with fans is now possible via such
media as the club homepage, smartphone applications
and social networks. All members of the Doosan Bears
Club—coaches, players, and staff—are actively involved in
numerous community service activities.

Doosan Cuvex
High-Quality Leisure Culture and Facility
Management and Maintenance Services

Doosan Cuvex (Golf Club), located in Chuncheon, the city of

lakes, operates the Ladena Resort Golf Club, a prestigious
golf resort that opened in 1990, the Club Mow Country
Club, and the Changwon Dormitory and the Guest House
of Doosan Heavy Industries & Construction.

The word ‘Ladena’ is a combination of ‘lake,’ ‘garden,’ and

‘nature.’ The Ladena Resort Golf Club boasts scenic views
and the highest quality field services.

The business of Doosan Cuvex IBS is comprised of two

areas: FM business that offers buildings and facility
management services for business facilities, factories,
distribution facilities, traffic facilities, research facilities,
sports facilities, and cultural facilities; and BS business that
provides client companies with general affairs, salaries
and wages, employee benefits, and purchasing services,
leveraging its expertise and economy of scale.

Doosan Cuvex will continue to provide quality services and 51

customer satisfaction based on its know-how and expertise
accumulated over the years.
Corporate Social
Responsibility
 Doosan’s CSR
Doosan’s CSR is both a steppingstone for Doosan to achieve growth for another
100 years and a promise to society. Doosan will keep its promise by growing in
harmony with all stakeholders

About Doosan Outline response to climate change; improving product and

service accountability; advancing CSR activities that
Our Businesses CSR (corporate social responsibility) refers to reflect the value of work; enhancing CSR promotion
management activities designed to help build long- activities; implementing CSR value creation projects;
Corporate Social
Responsibility
term win-win relationships between corporations and advancing CSR performance monitoring.
and societies in major areas, including organizational The performances and future plans of such CSR

Financial Review
governance, human rights, labor, environment, activities are available to all stakeholders via CSR
process operation, consumers, and the development reports and other documents made public.
of local communities.
Code of Conduct
Doosan is dedicated to fulfilling its social
responsibilities while catering to stakeholder needs. Doosan has revised its Code of Conduct and
Based on the core requirements of ISO 26000, the reinforced its whistleblowing system. The Code of
international CSR standard, Doosan has built its CSR Conduct is a set of rules outlining the core values
governance and strategic structure in the areas of that all Doosan People are required to comply with to
CSR integration, human rights, labor practices, the become a “Proud Global Doosan”.
environment, fair operating practices, consumer
issues, community involvement and development. The Code of Conduct has the following core
In addition, Doosan has publicly demonstrated its values: Inhwa, honesty and transparency, fair
commitment to carrying out CSR activities by joining competition, customer orientation, innovation
the UN Global Compact. and growth, community involvement, and safety
and environmental protection. Based on the Code
Strategy of Conduct, detailed guidelines are provided to
employees to create a healthy corporate culture,
Doosan’s CSR strategy is established and operated promote honest and transparent work processes,
based on its management strategy. Our CSR strategy eradicate bribery, prevent conflicts of interest among
includes the goal of becoming one of the world’s employees and more.
100 leading CSR companies by 2025, the mission of
supporting responsible and sustainable growth, four All Doosan employees embrace the core values in
CSR pillars, and 10 CSR priorities. providing products and services that enhance the
quality of life. Thus, our transparent and honest
The CSR pillars are as follows: first, “developing way of doing business based on trust built with our
people” which is based on Doosan’s strategic focus on stakeholders helps us fulfill our corporate social
people’s growth that leads to the company’s growth; responsibilities.
“reliable operation” which pursues fair profits;
“responsible engagement” which reflects responsible Pursuant to the new Code of Conduct, all
corporate citizenship; and lastly, “CSR value creation” stakeholders, including Doosan employees, can
which seeks co-growth of the company and society. report any violation of internal regulations or
These pillars entail 10 priorities: building a culture the law, as well as other inappropriate activities.
of respect for people; fair employment; building a Doosan abides by the principle of confidentiality and
safe working environment; enhancing fair operation protection of reporters to handle reported contents
and supplychain CSR; green management and in a speedy and fair manner.
“CSR includes the
responsibilities that
companies are obligated to
fulfill as well as activities
that are necessary to attain
sustainable growth.
”
Chairman & CEO Jeongwon Park
in his inaugural speech

55
 Major CSR Activities
Doosan aims to establish long-term win-win relationships with the community
through steady activities in such key areas as governance structure, human
rights, labor, environment, health, safety, fair operation, customers (consumers),
and community involvement

About Doosan Governance Structure business information by immediately disclosing key

decisions of general shareholders meetings.
Our Businesses Doosan has established a sound governance
structure to cater to shareholder interests and carry A part from the board of directors, Doosan
Corporate Social
Responsibility
out transparent business operations. operates the CSR Committee to further enhance its
transparency and accountability. It is chaired by the
Financial Review The board of directors is the highest decision-making CEO and composed of directors in charge of human
organ that deals with the execution of business rights, labor, environment, customer and product
operations, matters stated in the legal statutes and management, fair operations, corporate involvement
articles of incorporation, decisions made by the general and more.
shareholders meeting and more. Doosan appoints
external directors to ensure checks and balances In addition, Doosan conducts an annual CSR
between the internal management and external assessment of its affiliates inside and outside
directors. Furthermore, under the board of directors, Korea in their respective fields to identify necessary
there are three subordinate committees, including improvements, which are then reflected as priority
the audit committee, composed entirely of external tasks and carried out according to the plans
directors. The board of directors promptly provides established subsequently.
Human Rights and Labor Practices or receive counseling services. A meeting is held
every quarter to address the issues and enhance
Doosan’s CSR policies concerning human rights the corporate welfare programs. More recently, an
and labor comply with the Labor Standards Act, the added emphasis was placed on creating a respectful
policies of the International Labour Organization work environment by promoting gender equality
(ILO), and the principles of the UN Global Compact. and human rights.
According to the global principles of human
rights, Doosan prohibits forced or child labor, and Doosan’s pursuit of talent cultivation is based on its
discrimination on the basis of age, gender or other corporate philosophy—“Growth of people leads to
personal attributes with regard to its recruitment, growth of business.” Employees develop a plan to
employment, promotion, pay, or welfare and enhance their capabilities, and the company provides
benefits. Doosan encourages its employees to a wide range of training programs catering to their
maintain a work and life balance. professional needs and ranks.

To promote open communication, Doosan has Leaders and employees regularly assess and give
formed a variety of labor-management consultative feedback to each other to monitor whether such
bodies, through which employees can file complaints efforts are contributing to “growth through work.”

57
 Major CSR Activities

About Doosan EHS (Environment, Health & Safety) EHS Policy

Our Businesses Doosan developed and implemented an With EHS as our core management value, Doosan
is committed providing products and services
that improve the quality of life for people and
Environment, Health & Safety (EHS) management
Corporate Social
Responsibility
system based on the recognition that respect for life communities around the world.
To achieve this we shall :
and the environment is its responsibility and a core

Financial Review
value for its employees, families and society at large.
1. Minimize the impact of EHS on management activities by
establishing an EHS management system and complying with
We firmly believe that giving utmost priority applicable legal and other requirements.
2. Place the highest priority on the health and safety of all
to environmental, safety and health issues will employees and suppliers, for which the best working
ultimately increase the value of a company. To this environment and operational capabilities shall be secured and
maintained.
end, Doosan strives to conform to global standards
3. Improve the quality of life for customers and contribute
for environmental protection and business to environmental preservation by developing eco-friendly
management. Doosan is making its best efforts to technologies, products and services.
4. Actively take part in the environmental protection efforts of local
ensure the safety of all its employees and business
communities, fulfill social responsibilities, and engage in open
sites, as well as to society at large. The company communication with interested parties based on integrity and
transparency.
will continue to provide safe and environmentally-
5. E
 nsure all employees and suppliers are aware of and participate in
friendly products and services, in order to put its EHS our efforts toward achieving full compliance with our EHS policy.
philosophy into practice.
Fair Operating Practices the compliance of its employees with the statutes
concerning subcontracting. It also conducts on- and
Doosan has enacted and enforced its Code of off-line education for both its officers and employees
Conduct, implemented programs for voluntary and those of its partner companies so as to maintain
compliance with fair trade regulations, and fair transactional relations.
supported programs for win-win growth with its
partners. It has declared its detailed policies and In addition, Doosan believes that the competitiveness
regulations concerning ethical norms, including of its suppliers builds its own competitiveness. With
those concerning integrity, transparency, and fair that belief in mind, it has established a “virtuous
competition. partnership cycle” through which Doosan’s provision
of assistance for the growth of its partners ultimately
It reconfirms companywide compliance with results in its own growth.
these norms and standards by requiring all of its
employees to submit a sworn statement on their It has performed diverse activities aimed at
compliance with its Code of Conduct. promoting “Benefit Sharing” for joint technology
development and cost reduction projects, and
In June 2004, Doosan introduced a compliance securing the financial soundness of its partners by
program that ensures voluntary compliance with raising win-win growth funds while providing them
the prevailing fair trade regulations by monitoring with customized innovation methods.

59
 Major CSR Activities

About Doosan Customer Issues from the initial product design stage to delivery of the
final product to the customers. These activities are a
Our Businesses Our customers are the reason Doosan exist. key element of the product accountability program,
Doosan makes diverse efforts to satisfy or exceed which is designed to enhance customer satisfaction
Corporate Social
Responsibility
its customers’ expectations while listening to and while securing the safety of the customers, the end-
respecting their opinions. users of the products.
Financial Review
Doosan enhances communication with its customers Doosan has developed and operated an information
through diverse channels, including but not limited security policy to prevent possible leakages of the
to its Internet website, call center and customer personal information of its customers and thereby
satisfaction survey. The customers’ requests protect them from potential damages. It conducts an
and suggestions are actively reflected in quality annual education program designed to enhance the
improvement and product development as well as in security awareness of its officers and employees to
immediate actions such as its after-sales service. protect customer-related information, and encourages
Further, it has strengthened its product accountability them to practice their information security awareness
program in order to provide customers with safe and routinely through periodic checks of performance.
reliable products of outstanding quality. Safety and Doosan’s customer information protection system
quality-related matters are treated as top priority maintains all of its customers’ personal information in
an encrypted form in a database. Doosan attempts Doosan’s CCI goal is to ensure that the communities
to block information leaks at the very source by to which the Company belongs enjoy a far higher
pre-emptive monitoring for any acts which are standard of living through our CCI activities as we
suspected as potential leaks of information, including look to make a long-term investment into the future.
unauthorized access to, abuse or misuse of personal Doosan has also established the basis on which
information. employees and all its stakeholders can continually
grow through diverse CSR activities, under its mission
Corporate Community Involvement to “enhance the future competitiveness of the
(CCI) community and corporate value through strategic
CCI activities” and “Doosan Community Blueprint,” its
As a corporate citizen, Doosan is fully committed to CCI brand.
fulfilling its corporate social responsibilities to help
build a happy and prosperous future. We develop
and implement CSR programs that satisfy two core
elements: “Commitment to People” and “Contribution
to the Community,’ which have remained unaltered
and uncompromised throughout Doosan’s 123-year
history.

61
 Doosan’s Community Involvement
creates a better life together!
Doosan Corporation has continued to stage diverse
CSR activities that enable the Company to grow
together with the community.

Doosan conducts an annual “Doosan Day of Community

Service” event in which employees from around the world
About Doosan
identify and implement tasks that will benefit local communities.
Thus far, some 59,000 employees in over 20 countries have
Our Businesses
participated in a wide range of volunteer programs. We made
furniture for donation in South Korea, and donated toys and
Corporate Social
Responsibility
books for children in the U.S. In the U. K. and across Europe, we
conducted activities to improve facilities in the community. In

Financial Review
India, Vietnam, and other countries, we engaged in remodeling
and repairing schools and welfare facilities. As such, we carried
out various community outreach activities across the world. We
have regularly conducted these events since 2014, and is now
the established CSR culture of Doosan.

‘Doosan Tomorrow Lab’ is a program designed to help youth

cultivate creativity and problem-solving techniques. In middle
school, students learn the latest technologies through the free
semester-long class, and consider products needed for the
future using the technology, freely expanding their imagination.
In high school, students explore social issues for a sustainable
society, and craft products to help solve issues collectively with
Doosan employees.

The ‘Fire Crew Family Care’ program is designed to help pre-

school children of fire officers who were killed on duty or retired
due to injuries on duty. Under the program, we conduct the
screening of beneficiaries to offer a yearly child rearing expense
of up to KRW 4 million until the child graduates from primary
school. We also support professional psychological counseling
for children and their caregivers, when necessary. In particular,
we provide support for family members to bond by arranging
summer camps and year-end parties.

In addition, other flagship programs of Doosan affiliates de-

signed to help future talents include the “Infant Mental Health”
project, a customized educational program for nursing teachers
and parents to ensure proper development of healthy minds of
children, the “Youth Energy” project, a youth assistance program
tailored for various growth phases ranging from childhood to
adolescence to young adulthood, the “Dream School” mentor-
ing program by the employees for teenagers, and the “Time
Traveler” program, which aims to promote healthy emotional
development of teenagers through photography.
With the belief that our community’s growth is the very growth
of our own, Doosan extends their service to the needy to create
a positive society.
Doosan also seeks to improve access to health care and
education for people living in our communities through various
CSR programs. Since 2001, Doosan has established 34 “Doosan
Hope Elementary Schools” for children living in remote areas
in China. Under the “Wish Tree” program, we have forged
sisterhood relationships with elementary schools in India with an
aim to improve the educational environment for children in need.
In North Dakota, in the U.S., we have funded a STEM (Science,
Technology, Engineering, Mathematics) scholarship program. In
Vietnam, we provide free medical services for patients, including
children suffering from cleft lip and palate, help improve the
nutritional condition of infants, and support the Quang Nam
Central General Hospital, the largest medical institution in the
Quang Nam region of Vietnam, under the Q Health program.

Doosan has continued with its efforts to meet the needs of

the community by reflecting the characteristics of its business.
Accordingly, the Company provided water purification facilities in
Cambodia in 2006, and donated seawater desalination facilities
to An Binh Island in Vietnam in 2012. The Company is also
making efforts to provide disaster relief aid for people living in
affected areas. The Company extended support for recovery from
the 2004 Indian Ocean earthquake and tsunami, and assisted
victims of Hurricane Katrina in the U.S. in 2005, the 2008 Sichuan
earthquake in China, and the Fukushima nuclear disaster in 2011.
The Company was the first to offer a helping hand to Sichuan
Province, China, after another earthquake struck the region in
2013. It urgently dispatched its excavators and service personnel
through its dealerships in areas around the province, and helped
repair damaged roads to enable rescue workers to access the
disaster site promptly.

Since 1991, Doosan has delivered the warmth of tea to soldiers

of front-line military units under the "Love Tea Sharing" program,
a longstanding CI activity that demonstrates its continued
commitment to its community. The program also has led to
an opportunity for Doosan to donate some Doosan Bobcat
machines to front-line units in Yanggoo, Goseong, and Hwacheon
in Gangwon Province, to help make their snow-removal and
weeding easier . Furthermore, the Company delivers funds to
diverse educational institutions and awards scholarships to
outstanding students as part of its effort to make contributions to
a wide range of activities carried out to help the underprivileged.

Each of the Doosan affiliates has formed teams that are solely
dedicated to CSR activities, with an aim to carry them out in
a more professional and systematic manner based on close
relationships built with their respective communities. To
encourage employees’ voluntary participation in the meaningful
activities, we have put in place multiple programs, including a 63
small monthly salary deduction, a matching grant for donations
made by employees, and a paid volunteer service program. We
also have focused on creating more opportunities for external
stakeholders to participate in and understand our CSR activities
by actively communicating with them.
 Community Involvement Activities
of the Foundation
Doosan helps cultivate future leaders, support young
artists and grow together with local businesses
of Dongdaemun in partnership with Chung-Ang
University, the Doosan Yonkang Foundation and the
Dongdaemun Future Foundation

About Doosan Participating in the Management of Chung-Ang

University
Our Businesses
Ever since its participation in the management of Chung-Ang
Corporate Social
Responsibility
University in 2008, Doosan has been proactively providing
support to enable the educational institution to join the ranks

Financial Review
of prestigious world-class universities. Since 2009, Doosan
has continuously pushed for structural reforms of academic
units, thereby not only achieving specialization of each college
and department, but seamlessly ensuring interdisciplinary
convergence.

With the merger with the Red Cross College of Nursing in

2011, Chung-Ang University Red Cross College of Nursing was
launched as the largest nursing education institution in Korea.

Doosan is also stepping up its efforts to strengthen university

infrastructure necessary to boost Chung-Ang University’s
educational and research capacities. Thanks to the renovation
of the Central Library building and the construction of the
College of Pharmacy and R&D Center building as well as
Dormitory 1 & 2, Chung-Ang University students and faculty
can concentrate on their studies and research activities
in a more pleasant environment. In particular, Chung-
Ang University showcased its yet another leap forward by
completing the construction of the "Centennial Hall" in 2016
and had a successful year in 2018 that marked its 100th
anniversary, opening a new chapter in its history. Furthermore,
Chung-Ang University is fostering "creative future leaders
who can contribute to human society" with its new vision
CAU2030 and bolstering its position in the world with the goal
of becoming a global top-tier university.

Dongdaemun Future Foundation

The Dongdaemun Future Foundation was established in 2015

with an aim of systematically promoting the development of
the Dongdaemun area and achieving “shared growth” with
small local businesses through a public-private-academic
partnership. Under its vision of creating a “global top tier”
creative tourism cluster that will achieve the advancement
of the Dongdaemun fashion and tourism industry and the
balanced growth of the local economy, various programs
are being prepared to realize the balanced development of
Dongdaemun and the value of sharing in order to ensure co-
prosperity and more effective management of the community.

Doosan Yonkang Foundation

The Doosan Yonkang Foundation was established in 1978 to

honor the late first Chairman Doobyung Park, who believed
that education is the driving force of national development.
The Foundation contributes to society through scholarships,
academic support, and cultural programs.

Our other programs include the scholarship support

programs for fostering the future leaders of the nation,
including the Doosan Yonkang Scholarship, Doosan Dream
Tree Scholarship, and a multicultural scholarship, the teachers
overseas academic observation tour program for supporting
teachers who are responsible for fostering the future human
resources, the academic research support program to support
basic studies as the foundation of national development,
academic research activities, and book distribution programs
for schools in remote areas.

The Doosan Art Center for Mecenat activities operates

Yonkang Hall, Space111, Doosan Gallery Seoul / New York,
and Doosan Residency New York. The Doosan Art Center is a
multicultural space where performances, exhibitions, music,
and other cultural activities are held. As such, the Center
operates the DAC Artist program, Doosan Residency program,
Doosan Art Lab and Doosan Yonkang Art Awards to explore
and support young artists in various artistic genres such as
musicals, plays, music, and fine art.

Major Activities of Doosan Art Center

• DAC Artist
Selecting young performing artists under the age of 40 to support their art
activities.

• Doosan Art LAB

Supporting young artists under the age of 40 in their new experiments through
various forms such as showcases, readings and workshops.

• Doosan Residency New York

Supporting talented artists and their creative activities during six-month stays in

65
New York.

• Doosan Curator Workshop

Supporting three new curators with potential.

• Doosan Artist Awards

Supporting artists under the age of 40 with potential for growth in the areas of
fine arts and performing arts.
Financial Review
 Summary Financial Review

About Doosan
Doosan Heavy Industries & Construction
Since 2000, Doosan has achieved remarkable growth
as it has expanded its businesses through a business
Our Businesses portfolio conversion and increased sales by an average • Signed an MOU for the construction of thermal power
plant, Units 9 and 10, in Jawa, Indonesia
of 10% per year.
Corporate Social
Responsibility • Received an order for the construction of the Samcheok
Thermal Power Plant, worth KRW 1.8 trillion
This review will provide an overview of Doosan's
Financial Review business performance for 2018. • Received an order for the fuel conversion of the
In 2018, Doosan reported KRW 18.1722 trillion in sales Yeongdong Thermal Power Plant Unit 2

and KRW 1,215.9 billion in operating profits. Sales were • Selected to lead the development of 8MW offshore wind
up 7.4% YoY and operating profits up 4.1% YoY. power systems as part of a state-led project
In particular, since 2017, we have achieved an operating • Received an order for a desalination project in
profit of KRW 1 trillion for two consecutive years. Sharqiyah, Oman

As 66% of Doosan’s total sales com e from overseas,

sales are relatively sensitive to global economic Doosan Infracore
conditions. In the short term, our sales performance
• Ranked 9th place in global construction machinery sales
may be affected by fluctuations in exchange rates,
(based on 2019 Yellow Table)
technical license maintenance, costs associated
• Unveiled the world’s first 5G super-long-distance remote
with new technology developments and technology
control technology at bauma CHINA 2018
application time, and difficulty of sales associated with
• DoosanCONNECT won the grand prize at the IOT
regulatory environments.
Innovation Award
• Selected as a supplier of engines for Baoli, the leading
Doosan invests a great deal of resources in R&D which
forklift truck maker in China
is a critical factor for long-term outcomes.
• Supplied diesel engines to ARBOS, an Italian tractor
producer
In 2018, many of Doosan’s affiliates continue to grow
through these dynamic changes. The following are
examples of Doosan’s success achieved in 2018.
Doosan Bobcat

• Global leader in compact construction equipment

• Acquired a backhoe loader plant in India
• Signed a contract with Dae dong Industrial to conduct
joint development of compact tractors in North America
• Successful readjustment of interest rates on borrowing
Despite the difficult business environment at home The Road Ahead
and abroad, Doosan is recognized for its excellent
technology and competitive edge. Doosan will continue to strengthen our competitive
Doosan Heavy Industries & Construction has advantages by securing proprietary technologies and
emerged as a global leader in the power generation pursuing new business opportunities to aggressively
and water markets. transform ourselves. Consolidated under the 2G
Doosan Infracore is continuing its earnings growth strategy—“the growth of business through the
with record operating profits in 2018. growth of people”—Doosan endeavors to become
one of the leading companies in the world.
We have bolstered our R&D program, secured
proprietary technologies through acquisitions that As we set new milestones as a way to measure our
provide Doosan with greater competitiveness, and success, Doosan endeavors to create the maximum
are more customer-focused than ever. value for our customers by delivering the best
We are continuously investing to find new business products and services in all of our business areas,
opportunities, while building outstanding business encompassing power plants, desalination plants,
systems and programs for nurturing talented construction equipment, engines and construction
individuals with global competencies. of bridges and highways as well as duty free,
advertising, magazine publishing and leisure.
Having met all our short-term goals of the past
several years, we are now focused on the future. Doosan is undergoing a dynamic transformation
Our true strengths lie in our diverse business even at this very moment. Doosan will continue
portfolio as well as our ability to manage every aspect renewing its efforts to develop into a dynamic global
of every business with imagination and rigorous company that will keep growing while recording
attention to detail. We know we can always improve, outstanding achievements in all its business areas.
shape our business plans even more strategically,
continue to give back while doing well and continue
to build upon the support and respect of valued
employees and customers.

69
 Financial Statement 2017

(In millions of US$)

About Doosan Total

Total Operating
Companies Shareholder's Sales
Our Businesses Assets Income
Equity

Corporate Social
Responsibility Doosan Corporation* 5,971 3,121 3,135 245

Financial Review
Doosan Heavy Industries &
13,750 5,583 5,080 168
Construction

Doosan Infracore 9,591 2,962 5,808 584

Doosan Bobcat 5,772 3,199 2,997 349

Doosan Engineering &

2,656 901 1,358 52
Construction

Grand Total** 26,852 7,097 14,956 1,033

Sales and operating income figures are based on average F/X rate of KRW 1,130.84/US$.
Asset and equity figures are based on year-end F/X rate of KRW 1,071.4/US$.
* Doosan Corporation: Doosan Corporation on a separate basis; Tower, Oricom, Neoplux, Bears on a consolidated basis.
** Grand Total: Doosan Corporation as a holding company on a consolidated basis; the numbers in the columns do not add
up to the Grand Total.
Financial Statement 2018

(In millions of US$)

Total
Total Operating
Companies Shareholder's Sales
Assets Income
Equity

Doosan Corporation* 5,808 2,846 3,496 195

Doosan Heavy Industries &

12,113 3,893 4,978 187
Construction

Doosan Infracore 9,864 3,417 7,025 771

Doosan Bobcat 5,765 3,345 3,609 417

Doosan Engineering &

2,146 329 1,407 47
Construction

Grand Total** 25,830 6,390 16,516 1,105

Sales and operating income figures are based on average F/X rate of KRW 1,100.3/US$.
Asset and equity figures are based on year-end F/X rate of KRW 1,118.1/US$.
71
* Doosan Corporation: Doosan Corporation on a separate basis; Tower, Oricom, Neoplux, Bears on a consolidated basis.
** Grand Total: Doosan Corporation as a holding company on a consolidated basis; the numbers in the columns do not add
up to the Grand Total.
Korea Network

Doosan Corporation Bio Doosan Heavy Industries & Oricom Inc.

Doosan Tower, 275, Yeonkang Bldg., 15, Jong-ro 33-gil, Construction Co., Ltd. Doosan Bldg., 726, Eonju-ro,
Jangchungdan-ro, Jung-gu, Seoul Jongno-gu, Seoul 22, Doosanvolvo-ro, Gangnam-gu, Seoul
Tel 02 3398 0114 Tel 02 3670 8390 Seongsan-gu, Changwon-si, Tel 02 510 4100
Fax 02 3398 1135 Fax 02 3670 8388 Gyeongsangnam-do Fax 02 542 3966
www.doosan.com Tel 055 278 6114 www.oricom.com
Doosan Digital Innovation Fax 055 264 5551~2
Electro-Materials Yeonkang Bldg., 15, Jong-ro 33-gil, www.doosanheavy.com Hancomm
Doosan Tower, 275, Jongno-gu, Seoul
Doosan Bldg., 726, Eonju-ro,
Doosan Infracore Co., Ltd.
Jangchungdan-ro, Jung-gu, Seoul Tel 02 3670 8500
Gangnam-gu, Seoul
Tel 02 3398 0114 Fax 02 3670 8555
489, Injung-ro, Dong-gu, Incheon Tel 02 519 6900
Fax 02 3398 1519 www.doosandigitalinnovation.com
Tel 032 211 1114 Fax 02 519 9799
www.doosanelectronics.com www.hancomm.co.kr
Fax 032 211 1231
Doosan Mecatec Co.,Ltd
Industrial Vehicle
www.doosaninfracore.com

468 Injung-ro, Dong-gu, Incheon-si

259, Jeokhyeon-ro, Seongsan-gu,
Doosan Cuvex Co., Ltd.
Doosan Bobcat
Changwon-si, Gyeongsangnam-do,
Tel 032 211 5000 72, Chiljeondong-gil, Sindong-myeon,
Korea
Fax 032 211 5010 Doosan Tower, 275, Chuncheon-si, Gangwon-do
Tel 055 279 5555
www.doosan-iv.com Jangchungdan-ro, Jung-gu, Seoul Tel 033 260 1114
Fax 055 279 5777
Tel 02 3398 0993 Fax 033 263 6060
Mottrol
www.doosanmecatec.com
Fax 02 3398 8499 www.ladenaresort.com
www.clubmow.com
Neoplux Co., Ltd.
171 Wanam-ro, Seongsan-gu, www.doosanbobcat.com
Changwon-si, Gyeongsangnam-do
18th Floor, Glass Tower, 534,
Tel 055 269 5114
Teheran-ro, Gangnam-gu, Seoul Doosan Engineering & Doosan Yonkang Foundation
Fax 055 269 5220
Tel 02 560 9700 Construction Co., Ltd. Yeonkang Bldg., 15, Jong-ro 33-gil,
www.doosanmottrol.com
Fax 02 560 9701 Doosan Bldg., 726, Eonju-ro, Jongno-gu, Seoul
Gangnam-gu, Seoul Tel 02 766 7680
Fuel Cell
www.neoplux.com
Tel 02 510 3114 Fax 02 745 9896
Doosan Robotics Fax 02 540 5221
Doosan Tower, 275,
www.yonkang.org
www.doosanenc.com
Jangchungdan-ro, Jung-gu, Seoul
79, 156-beongil, Saneop-ro, www.doosanartcenter.com
www.weveapt.co.kr
Tel 02 3398 3820
Gwonseon-gu, Suwon-si,
Fax 02 3398 3858
Dongdaemun Future
Gyeonggi-do
www.doosanfuelcell.com
Doosan Bears Inc. Foundation
Tel 031 8014 5500

Retail
Fax 031 8014 5691
25, Olympic-ro, Songpa-gu, Seoul Yeonkang Bldg., 15, Jong-ro 33-gil,
www.doosanrobotics.com
Doosan Tower, 275, Tel 02 2240 1777 Jongno-gu, Seoul
Jangchungdan-ro, Jung-gu, Seoul Fax 02 2240 1788 Tel 02 3670 8241
Doosan Mobility Innovation www.doosanbears.com Fax 02 3670 8245
Tel 02 3398 0114
Fax 02 3398 8699 10, Suji-ro 112beon-gil, Suji-gu, www.dongdaemunfuture.org
www.dootadufyfree.com Yongin-si, Gyeonggi-do, Korea Doosan Magazine
Tel 031 270 1703
Yonkangwon(DLI)
www.doota-mall.com Doosan Bldg., 726, Eonju-ro,
Fax 031 270 1719 Gangnam-gu, Seoul
25, Myeongil-ro 26-gil,
www.doosanmobility.com Tel 02 510 4500
Gangdong-gu, Seoul
Fax 02 510 4501
Tel 02 2041 3000
www.vogue.co.kr
Fax 02 2041 3001
www.gqkorea.co.kr
dli.doosan.com
www.allurekorea.com
www.wkorea.com
Global Network

Doosan Corporation TAIWAN Office Doosan Logistics Europe GmbH Doosan Heavy Industries &
11439 5F.-1, No.102, Zhouzi St., Am Stieg 17 D-15910 Bersteland – OT Construction Co., Ltd.
Electro-Materials Neihu Dist., Taipei City, Taiwan Freiwalde Germany
Tel 886 2 2658 0018 Tel 49 35 474 2080 EUROPE
AMERICA Fax 886 2 2658 6728 Fax 49 35 474 20815
Doosan Electro-Materials AMERICA LLC Subsidiaries
101 Metro Drive Suite 345 TOKYO Branch Rushlift Ltd.
San Jose, CA, 95110, USA 4F Sanno Park Tower 2-11-1 Nagatacho, Ravensthorpe Industrial Estate, DOOSAN POWER SYSTEMS LTD.
Tel 1 408 642 5562 Chiyoda-ku, Tokyo 106-6104, Japan Ravensthorpe, Dewsbury, West Yorkshire Doosan House, Crawley
Fax 1 408 564 4237 Tel 81 3 6205 4848 WF13 3LN Business Quarter, Manor Royal,
Fax 81 3 6205 4845 Tel 44 1924 497805 Crawley, West Sussex,
Circuit Foil Luxembourg Fax 44 1924 490024 RH10 9AD, United Kingdom
Zone Industrielle C Salzbaah L-9559 Wiltz Industrial Vehicle Tel 44 1293 612888
G.D. of Luxembourg Doosan Industrial Vehicle Yantai Co., Ltd. Fax 44 1293 584321
Tel 352 95 75 51 1 Doosan Industrial Vehicle America Corp. Fuzhou Road 28, Eco&Tech, Development
Fax 352 95 75 51 249 2475 Mill Center Parkway Suite 400, Area, Yantai Shandong, China [DOOSAN BABCOCK]
Buford, GA 30518 USA Tel 86 535 397 7322 Porterfield Road, Renfrew,
Circuit Foil Asia Pacific ZH Tel 1 678 745 2200 Fax 86 535 639 0559 PA4 8DJ, United Kingdom
1/F, Block A, 8 GuangDong Road, Fax 1 678 745 2250 Tel 44 141 886 4141
Free Trade Zone Zhangjiagang, www.doosanlift.com Mottrol Fax 44 141 885 3338
Jiangsu Province
215 634 People's Republic of China Doosan Material Handling Solutions : Doosan Mottrol Jiangyin Co., Ltd. [DMJC] [DOOSAN ŠKODA POWER]
Tel 86 512 5832 2182 Atlanta No.1209, Binjiangxi road, New Material Tylova 1/57, 301 28 Plzen, Czech
Fax 86 512 5832 2181 2475 Mill Center Pkwy, Buford, GA 30518 Industrial Park, New Harbour City, Tel 420 378 185 000
Tel 678 745 2230 Jiangyin, Jiangsu Province, China 214446 Fax 420 378 185 910
CHANSHU Fax 678 745 2250 Tel 86 510 8603 5260
No.168 Hualian Road. Tonggang www.doosanmhs.com Fax 86 510 8603 5259 [DOOSAN LENTJES]
Industrial Park, Changshu Economic Daniel-Goldbach-Strasse. 19,
Development Zone, Changshu City, Doosan Material Handling Solutions : LA Fuelcell 40880 Ratingen, Germany
Jiangsu Province, China 5650 Knott Avenue, Buena Park, CA 90621 Tel 49 2102 166 0
Tel 86 512 8235 9980 Tel 714 676 8750 Doosan Fuel Cell America Fax 49 2102 166 2500
Fax 86 512 8235 9106 Fax 866 954 4609 195 Governor's Hwy South Windsor
www.doosanmhs-socal.com CT 06074, USA DOOSAN ENPURE
HONG KONG / SHENZHEN Tel 1 860 727 2200 Doosan Enpure House,
5JK Jinyun century building, Doosan Industrial Vehicle UK Ltd. Fax 1 860 727 7555 Parklands Business Park, Rubery,
6033 Shennan avenue, Futian district, Unit 12, Kilvey Road, Brackmills Industrial Birmingham, B45 9PZ,
Shenzhen, China Estate, Northampton NN4 7BQ UK Doosan Digital Innovation United Kingdom
Tel 86 755 8278 8231 Tel 44 1604 825600 Tel 44 121 683 2801
Fax 86 755 8278 8955 Fax 44 1604 825650 Doosan Digital Innovation America Fax 44 121 251 9111
3901 Morrison Ave Bismarck,
SHANGHAI Doosan Industrial Vehicle Europe N.V. ND 58504 USA DOOSAN IMGB
Room 2403 Nison Plaza, 205 Suzhou Europark Noord 36A 9100 Tel 1 770 353 3800 104 Berceni Road, Bucharest 4,
Avenue West Suzhou Industrial Park, Sint-Niklaas Belgium Fax 1 770 353 3801 Romania
Suzhou 215021, Jiangsu Province, Tel 32 3 760 0987 Tel 40 21 301 2500
China Fax 32 3 760 0989 Doosan Digital Innovation China Fax 40 21 301 2501
Tel 86 0512 8789 7923 C1, 19/F, Tower B, Gateway. No.18
Fax 86 0512 8789 7929 Doosan Industrial Vehicle Europe (Germany) Xiaguangli, North Road East 3rd Ring, Branches
Timmerhellstraße 35, 45478 Mülheim Chaoyang District, Beijing
SINGAPORE an der Ruhr China, 100027 FRANKFURT OFFICE
Doosan Electro-Materials Singapore Tel 49 208 3876844 0 Tel 86 10 8454 7088 7th Floor, Arabella Center,
Pte Ltd 21 Woodlands Close Fax 49 208 3876844 15 Fax 86 10 8454 7108 Lyoner Strasse 44-48, 60528
#04-29 Primz Biz Hub Frankfurt am Main,
Singapore 737 854 Doosan Industrial Vehicle Europe (France) Doosan Digital Innovation Europe Germany
Tel 65 6397 5262 ZAC La Clef St. Pierre - Buroplus 21a av. Doosan House, Crawley Business Tel 49 69 69 5004 0
Fax 65 6397 5263 Jean d’Alembert - 78990 Elancourt, France Quarter Manor Royal, Crawley West Fax 49 69 69 5004 10
Tel 33 1 3016 2151 Sussex, RH10 9AD, United Kingdom
VIETNAM Fax 33 1 3016 2155 Tel 44 0141 886 4141 BIRMINGHAM WATER R&D CENTER
Keangnam Hanoi Landmark Tower Fax 44 0141 885 3338 Doosan Enpure House,
No.1415, 14F, Plot E6, Cau Giay Doosan Industrial Vehicle Europe (Italy) Parklands Business Park, Rubery,
Urban Area, Me Tri Commune, 43, Via Dante Alighieri, Lissone, MB Doosan Digital Innovation Czech Branch Birmingham, B45 9PZ,
Tu Liem District, Hanoi 20851, Italy Europe, Tylova 1/57 301 00 United Kingdom
Tel 84 4 3837 8491 Tel 39 39 245 7140 Plze., Czech Republic Tel 44 121 683 2800
Fax 84 4 3837 8492 Fax 39 39 245 7257 Tel 42 0 378 185 000 Fax 44 121 683 2888
ASIA HANOI OFFICE [NEWINGTON OFFICE] KUWAIT OFFICE
#1101, Daeha Business Center, 360 Kim Ma, 178 Shattuck Way, Newington, 7B, Block 49, Plot 35, Laila Commercial
Subsidiaries Ba Dinh District Hanoi, Vietnam NH 03801, USA Tower, Salmiya, P.O Box 2031 Kuwait
Tel 84 4 6273 0545~9 Tel 1 603 433 5507 Tel 965 6001 3075
DOOSAN POWER SYSTEMS INDIA Fax 84 4 6273 0550 Fax 1 603 433 1060 Fax 965 2575 2001
PVT. LTD.
JAKARTA OFFICE [PITTSBURGH OFFICE] MIDDLE EAST OPERATION CENTER
[CHENNAI OFFICE] Menara Sentraya 17th Floor, 5000 Ericsson Drive bldg 5 Office 319a Office Unit No. 2202/2203, 22nd Floor
18/2A, Senneerkuppam, Bypass Road, Unit B2, Jalan Iskandarsyah II No 2., Warrendale PA 15086, U.S.A Ubora Tower, Al Abraj Street, Business
Poonamallee, Chennai 600 056, Tamil Kebayoran Baru, Jakarta Indonesia Tel 1 412 374 6071 Bay P.O. Box 282131, Dubai, U.A.E.
Nadu, India Tel 62 21 2788 1802 Tel 971-4-327-5545
Tel 91 44 3303 5000 Branches Fax 971-4-327-5529
Fax 91 44 3303 5001 MANILA OFFICE
Unit 1802, One World Place, SANTIAGO OFFICE RIYADH OFFICE
[MUMBAI OFFICE] 32nd street, Bonifacio Global City, Av. Nueva Tajamar 481, Torre Sur, # 205~206, The Plaza Building
501,5th Floor, CNB Square Bldg. Taguig City 1634, Philippines Piso 11, Oficina 1103, Las Condes, (Akariya No. 4), Olaya Street, P.O.Box 9656,
Sangam Complex, Near Sangam Cinema, Tel 63 2 801 4619 Santiago, Chile Riyadh 11423, Kingdom of Saudi Arabia
Andheri-Kurla Road, Chakala, Andheri(East), Fax 63 2 801 4616 Tel 56 2 2657 3333 Tel 966 1 419 1696
Mumbai 400 059, India Fax 56 2 2657 3343 Fax 966 1 419 1995
Tel 91 22 6177 0500 SHANGHAI OFFICE
Fax 91 22 6177 0599 Rm2903A, Gubei International Fortune TAMPA OFFICE AFRICA
Center, No.1438, Hong Qiao Road, Chang 912 Chad Lane, Tampa, FL 33619,
[NEW DELHI OFFICE] Ning District, Shanghai, 201103, China USA Branches
16th Floor, DLF Square Building, Tel 86 21 5877 8696 Tel 1 813 549 0182
Jacaranda Marg, Fax 86 21 5877 5938 Fax 1 813 623 6666 JOHANNESBURG OFFICE
Near NH-8, DLF Phase-II, 12F, The Forum, 2 Maude Street,
Gurgaon, Haryana 122 002, India TAIPEI OFFICE TAMPA WATER R&D CENTER Sandton, Johannesburg, South Africa
Tel 91 124 439 8200 8F-7, No.495, Guangfu S. Rd., Taipei, 912 Chad Lane, Tampa, +27 113 265 790 (Landline)
Fax 91 124 414 7006 Taiwan FL 33619, USA Tel 27 113 265 790
Tel 63 2 949 8060 Tel 1 813 549 0182 Fax 966 1 419 1995
[KOLKATA OFFICE] Fax 1 813 623 6666
South City Pinnacle, Mangalam AMERICAS
Business Center Suite No - 1214, MIDDLE EAST & AFRICA Doosan Infracore Co., Ltd.
12th Floor, Salt Lake, Sector – V Subsidiaries
Kolkata – 700091 Subsidiaries Doosan Infracore China Investment
Tel 91 33 4019 3425 DOOSAN HEAVY INDUSTRIES Co., Ltd.
Fax 91 33 4019 3430 AMERICA CORP. Doosan Power Systems Arabia 19/F, Tower B, Gateway. No.18,
10th Floor, Parker Plaza, Al Hamra Plaza, Unit no. 12, 1st floor, Xiaguangli, North Road East Third Ring,
DOOSAN HEAVY INDUSTRIES 400 Kelby Street, Fort Lee, Palestine Road, Jeddah 23212-7663, Chaoyang District, Beijing 100027, China
VIETNAM CO., LTD. (DOOSAN VINA) NJ 07024, USA Kingdim of Saudi Arabia Tel 86 10 8454 7000
Dung Quat Economic Zone, BinhThuan Tel 1 201 944 4554 31, 24 Tel 966 012 610 3600
Commune Binh Son District, Fax 1 201 944 5022 Doosan China Financial Leasing Corp.
Quangngai Province, Vietnam Branches (DCFL)
Tel 84 55 3618 900 DOOSAN ATS AMERICA, LLC 20/F, Tower B, Gateway. No.18,
Fax 84 55 713 950 11360 N. Jog Road, Palm Beach ABU DHABI OFFICE Xiaguangli, North Road East Third Ring,
Gardens, FL 33418, USA # 508, Al Ghaith Tower, Hamdan Street, Chaoyang District, Beijing 100027, China
DOOSAN HEAVY INDUSTRIES Tel 1 561 572 9100 P.O. Box 27767, Abu Dhabi, UAE Tel 86 10 8454 7200
JAPAN CORP. Fax 1 561 572 9101 Tel 971 2 627 6273
4F, Sanno Park Tower, 2-11-1, Nagatacho, Fax 971 2 627 6274 Doosan Infracore China Co., Ltd.
Chiyoda-ku, Tokyo, Japan 100-6104 Doosan GridTech Beijing Branch (Construction Equip.
Tel 81-3-5510-5460 71 Columbia St, Suite 300, Seattle, CAIRO OFFICE Sales & Marketing Dep.)
Fax 81-3-5510-5461 WA 98104, USA 2nd Floor, Land Mark Building 1, 67 El 19/F, Tower B, Gateway. No.18
Tel 1 888 452 7715 Teseen St., 5th Settlement, New Cairo Xiaguangli, North Road East Third Ring,
Branches Tel 20 2 2537 1040 Chaoyang District, Beijing 100027, China
Doosan HF Controls Fax 20 2 2537 1041 Tel 86 10 8454 7000
BEIJING OFFICE 1624 West Crosby Road, Suite 124
19th Floor, Gateway Plaza, Tower B, Carrollton, Texas 75006, U.S.A. DUBAI OFFICE Doosan Infracore China Co., Ltd.
No. 18 Xiaguangli, North Road, Tel 1 469 568 6526 30th Floor, H HotelOffice Tower, (Construction Equip.)
East Third Ring Chaoyang District, Sheikh Zayed Road, P.O.Box 11859, No.28 Wuzhishan Road,
Beijing 100027, China Doosan Power Services America Dubai, UAE Eco&Tech. Development Area,
Tel 86 10 8454 7122, 7136 1050 Crown Pointe PKWY, Tel 971 4 327 5545 Yantai Shandong 264006, China
Fax 86 10 8484 7139 STE-1200, Atlanta, GA-30338, Fax 971 4 327 5529 Tel 86 535 638 2000
USA
BANGKOK OFFICE Tel 1 770 861 9400 DAMMAM WATER R&D CENTER Doosan Infracore China Co., Ltd.
10th Floor, M-Thai Tower, All Seasons Al Turki Business Park 9th Floor, Muping Branch (Construction Equip.
Place, 87 Wireless Road Phatumwan, Doosan Turbomachinery Services Al Khobar 31952, Eastern Province, Sales & Marketing Dep.)
Bangkok 10330, Thailand 12000 N. P Street, La Porte, Kingdom of Saudi Arabia No.819 Xinqu Street, Muping District,
Tel 66 2 654 0690 TX 77571, USA Tel 966 3 868 6951 Yantai Shandong 264006 China
Fax 66 2 654 0693 Tel 1 713 364 7500 Fax 966 3 868 7100 Tel 86 535 6382000
Doosan Infracore Shandong Co., Ltd. Doosan Infracore Co., Ltd. Doosan International Australia Pty Ltd. Bobcat Corp.
(Construction Equip. Sales Dep.) (Parts Distribution Center – USA, Miami) 11A Columbia Way, Baulkham Hills, 3-7-15, Shin-Yokohama,
No.1088, Xinchengdajie Street, 10205 NW 19 Street, FL 33172, Miami, New South Wales 2153, Australia Yokohama-shi, Kanagawa,
Muping Economic Developing Zone, USA Tel 61 2 8848 2701 Japan 222-0033
Yantai Shandong 264100, Tel 1 305 592 9410 Tel 81 45 548 4445
China Doosan International Luxemburg
Tel 86 535 470 7114 Doosan Infracore North America LLC. 36 Route de Longwhy L-8080 Bertrange Doosan Bobcat Chile Compact SpA.
(Parts Distribution Center – USA, Illinois) Grand-Duche du Luxembourg, Av. Americo Vespucio 1151,
Geith International Ltd. 2649 Internationale Pkwy, Woodridge, Comuna Quilicura Santiago,
Block B Balheary Road Business IL 60517 Bobcat Bensheim GmbH Chile
Campus Swords Co Dublin Ireland Tel 1 630 783 0200 Berliner Ring 169, 64625, Bensheim, Tel 56 2 2964 3050
Tel 353 1 6502000 Germany
Doosan Infracore South America Tel 49 6251 8482 0 Doosan Bobcat India Private Ltd.
Doosan Infracore Co., Ltd. Industria E Comercio De Maquinas 3rd Floor, TNPL Building,
(Parts Distribution Center - Singapore) De Construcao LTDA Av. Doosan 777, CJSC Doosan International Russia No.67, Mount Road, Guindy,
Tampines, LogisPark, 1 Greenwich Drive, Galpao A. Parque Sao Jeronimo, 14, Kolodezny pereulok, Moscow, 107076, Chennai . 600 032, Tamil Nadu,
Level 3, 533865, Singapore Americana, SP, Brazil Russian Federation, office 608, Russia India
Tel 65 6812 5367 Tel 55 19 3471 9100
Doosan Benelux SA Doosan Bobcat China Co., Ltd
Doosan Infracore Engine BG Doosan Infracore Co., Ltd. Dreve Richelle 167, 1410 Waterloo, NO.68, Suhong East Road, SIP
Europe Office (Parts Distribution Center - Brazil) Belgium Jiangsu, China 215026
U Kodetky 1810, 263 01 Dobříš Av. Pierre Simon de Laplace, 901 Tel 86 512 8777 7777
- Techno Park - Campinas- Doosan Bobcat EMEA s.r.o.
Doosan Infracore Germany Office São Paulo, Brazil U Kodetky 1810, Dobris 263 12, Doosan Bobcat Mexico S.A. de C.V.
(Engine) Tel 55 13 069 320 Czech Republic Claveria 29, PH 5, Colonia Claveria,
Daniel Goldbach Street 19 40880 Tel 420 318 532 444 Delegacion Azcapotzalco,
Ratingen Germany Doosan Infracore Co., Ltd. Mexico DF, 02080
Calle 63A No. 21 - 36 Oficina 301 Doosan Infracore Europe S.A. Tel 52 442 278 2123
Doosan Infracore Co., Ltd. Edificio Circulo de Ingenieria Bogota, Rue Achille Degrace,1A-7080, Frameries
(Parts Distribution Center-Engine, Colombias Belgium Doosan International South Africa
Germany) Tel 32 65 61 32 30 Pty Ltd.
Star Park, Polarisstraße 4, 06116 Halle Doosan Bobcat Chile S.A 9, Liebenberg Road, Alrode, 1451
(Saale) (Construction Equipment) Doosan International UK Ltd.
Av. Americo Vespucio 1151, Unit 20 Meadowcroft Way,
Doosan Infracore Norway AS Comuna Quilicura Santiago, Chile Leigh Commerce Park. Leigh, Doosan Engineering &
Gnr 50 Bnr 44 6440 Elnesvågen, Norway Tel 56 2 2964 3050 Lancashire WN7 3XZ, United Kingdom Construction Co., Ltd.
Tel 47 712 68 500 Tel 44 1942 266900
Doosan Infracore Japan Corp. Doosan Engineering &
Doosan Infracore Norway AS. 2412, Mita Kokusai Bldg., 1-4-28, Geith International Ltd. Construction Co., Ltd.
Varholvegen 149 N-6440 Mita, Minato-Ku Tokyo 108-0073, Japan Block B, Balheary Road, Swords Doosan Vina Haiphong
Elnesvågen, Norway Business Campus, Swords, Co. Km 92, Highway 5, Sodau ward,
Tel 47 712 68 500 Doosan Infracore Europe B.V. Dublin, Ireland Hongbang district, Haiphong city,
Wilgenweg 2, 2964 AM Groot-Ammers, Tel 353 1 6502000 Vietnam
Doosan Infracore Co., Ltd. Nederland Tel 84 225 3712 710
Platinum Tower-1302, Cluster I, Tel 31 0 65 589 5015 Doosan Holdings France S.A.S. Fax 84 225 3712 714
JLT Dubai P.O. Box 48751, Dubai UAE Route de Nantes, BP71,
Tel 971 4 420 8033 44160 Pontchateau, France
Doosan Bobcat Tel 33 2 40 00 73 50
Doosan Infracore Co., Ltd.
(Parts Distribution Center - UAE) Clark Equipment Co. Bobcat France S.A.
South Zone/Jebel Ali Free Zone 250 East Beaton Drive, Fargo, Route de Nantes, BP71, 44160 P
P.O. Box : 17713, Dubai, UAE North Dakota 58078, USA ontchateau, France
Tel 971 4 81 3 1279 Tel 1 701 241 8700 Tel 33 2 40 00 73 50

Doosan Infracore North America LLC. Bobcat Equipment Ltd. Doosan Bobcat Singapore Pte. Ltd.
2649 Internationale Pkwy, 1185 Matheson Blvd. East, Mississauga, 3A International Business Park,
Woodridge, IL 60517, USA ON L4W 1B6, Canada #08-02 ICON @ IBP, Singapore 609935
Tel 1 630 783 0200 Tel 1 905 206 0022 Tel 65 6499 0200

Doosan annual brochure can be downloaded from our website(www.doosan.com).

www.doosan.com
Doosan Tower, 275 Jangchungdan-Ro,
Jung-gu, Seoul, Korea
82-2-3398-0114