SeAH Besteel Corporation
Sung-Hwi Lee, CEO of SeAH Besteel, was born in Busan on 1950 and graduated from the Department of Metallurgical Engineering from Seoul University. After 15 years in a related field, he started his career with SeAH Group's Planning Team at SeAH Steel.
The acquisition of Kia Steel under court receivership turned out to be a great chance for SeAH Besteel. During and after the acquisition, Lee demonstrated his excellent leadership through the success of the M&A and by converting the corporation's books from red to black the next year. Also, Lee forecasted the demand growth accurately and expanded the company's capacity with a preemptive investment of ￦1 trillion from 2004. As a result, SeAH Besteel achieved CAGR 14.8% in sales and became the No.1 in the industry.
About the Company
SeAH Besteel is the No.1 Company in Korea specialized in special steel and made ￦2.2 trillion in sales and ￦170 billion in operating profit. SeAH Besteel was established as a Machinery Manufacturer in 1937. After converting its core business, the company has primarily supplied special steel with large-sized single products and AutoParts. SeAH Besteel constructed a large-scale special steel plant in Gunsan in 1997. The plant, equipped with automatic systems, has enhanced cost competitiveness and achieved very large capacities such as a 3.1 million-ton steelmaking and a 2.8 million-ton production system. In addition, SeAH Besteel's Technology Research Center does its utmost to increase quality and future competitiveness through research.