The Doosan Group, which recently purchased the controlling interest in Daewoo Heavy Industries & Machinery from an agency of the Korean government, changed Daewoo’s name April 29 to Doosan Infracore. The name change is corporate only; the brand name of the company’s products will remain Daewoo. Doosan is Korea’s ninth largest business conglomerate. According to a letter IJ Kim, president of Doosan Infracore America, wrote to Daewoo customers, Doosan’s management aims to develop Doosan Infracore into a global leader in the infrastructure support business, with the goal of being ranked among the top five in that field.
Doosan changes Daewoo Heavy Industries’ name
May 23, 2005