In 1896, Park Seung-jik opened his store in Baeogae, Seoul, and it became known as Korea’s oldest store. Park Doo-Byung took over the store in 1946. Its name was changed in 1953 to Doosan Industry Co. Ltd. and has since developed into a multinational conglomerate.
One of the subsidiaries was Doosan Infracore American Corp. This construction machinery manufacturer had its early beginning as Chosun Machine Works in 1937, and was known for revolutionizing the Korean equipment industry using new technology to combat competitors.
In 1963, the company was renamed Korea Machinery Industries Corp. and was the first major machinery manufacturer to be established in Korea. Some sources cite this as Korea’s crucial push into the modern world of technology. The products manufactured by the company included forklift trucks, diesel engines, and other related machinery.
The company was renamed again in 1976 as Daewoo Heavy Industries Ltd. At this point, the production of new diesel engines, forklifts, etc. begin to grow, establishing the company as a solid competitor within the business. The company expanded its production to the aerospace and defense industry in the 1980s. By the 1990s, Daewoo began to branch out overseas, first taking its products and services to Europe, then to China. Branches were formed in the U.S., the U.K, Germany, France, Italy, and more.
Daewoo returned to its original namesake, Doosan Infracore, in April 2005. It has acquired numerous companies, including Yonhap Capital, Doosan Mechatech’s Machine Tool Division, Yuhua Machinery, Suzhou Yuhan Corporation.
Doosan acquired three divisions of Ingersoll Rand Co. Ltd. on July 29, 2007, including the Bobcat compact equipment business, the utility equipment business and the attachments business. The buying price was US$4.9 billion. Such large transactions have secured Doosan’s reputation as a market leader of heavy equipment.
It was said to be the second biggest purchase in the industry, the biggest to come out of Korea. The first was a $5.5 billion acquisition of Kion by Kohlberg Kravis Roberts & Co. and Goldman Sachs Group. The acquisition provided Doosan with a network of more than 3,700 dealers throughout the world and 20 manufacturing plants.
Today, Doosan’s headquarters are in Suwanee, Georgia. Doosan has become the world’s largest manufacturer of forklifts in Korea, with 90 models to its name and the fourth largest medium to large crawler excavator. It’s also the leading manufacturer of diesel engines and the third largest tool manufacturer in the world.
 Doosan Equipment News
In 2008, Doosan launched the unmanned excavator, a remote-control excavator, at the CONEXPO, on March 11. The excavator was developed especially to combat conditions poor working conditions such as extreme temperatures and disaster areas. Plans to complete the remote-controlled excavators have been set for 2011.
 Other Subsidiaries of Doosan Group
 Doosan Heavy Industries and Construction
Doosan Heavy Industries and Construction was established in 1962 and have already built more than 300 nuclear, thermal cycle and hydro power plants. They have extended to countries all over the world, including India, U.S., Saudi Arabia, Qatar and China and are presently building another 60 more power plants throughout. Among their products includes materials for power and desalination plants.'
 Doosan Mecatech
The Doosan Mecatech division manufactures Chemical Process Equipment (CEP) throughout the global market for the last 30 years.
 Doosan Engine
Subsidiary Doosan Engine has been around for 20 years and specializes in producing diesel engines for large vessels. It produces low and medium speed marine diesel engines while maintaining diesel power plants.
 Doosan Corp.
Doosan Corp. consists of several divisions, some including: liquor, electronics, publishing, apparel, and Techpack and is known to be one of Korea’s oldest businesses, having been in existence for the past 112 years.
 Equipment List
- Boring machine
- Concrete pump truck
- Log loader
- Mini excavator
- Mobile excavator
- Tower crane
- Wheel loader
- ↑ Profile. Doosan. 2008-09-22.
- ↑ Timeline. Doosan Infracore. 2008-09-22.
- ↑ News Article. Bloomberg. 2008-09-22.
- ↑ Timeline. Doosan Infracore. 2008-09-22.
- ↑ About Us. Doosan Infracore America. USA Doosan. 2008-09-22.
- ↑ Doosan Infracore. US Doosan Infracore. 2008-09-22.
- ↑ Doosan. US Doosan Infracore. 2008-09-22.
- ↑ Heavy. Doosan Heavy. 2008-09-22.
- ↑ All Company. Doosan Engine. 2008-09-22.
- ↑ Company. Doosan Corp. 2008-09-22.