Dongwha Enterprise, the Parent company of Dongwha Group, started on April 2nd 1948 as a small sawmill in Hawangsimni-dong in Seongdong-gu, Seoul. The name, Dongwha Enterprise (東和企業) meaning “Peace in the East”, was named personally by Founding Chairman Seung Sang-bai,and has been maintained until the present day. In 1971, Dongwha Enterprise became the first company in Korea to block the sea around the Incheon Port area to build an underwater lumber yard, setting a foothold to build the materials industrial complex, and laying a cornerstone to grow into the leading lumber company in Korea.
Following the launch of the PB business in 1975, Dongwha Enterprise started producing MDF in 1986. heralding the opening of the era of a full-fledged device industry and the technology-intensive high value-added business. Meanwhile, Dongwha Enterprise has strengthened its capacity in the technology-intensive industries by securing an internal system capable of producing formalin, an essential ingredient of top board.
Dongwha Enterprise liquidated its materials business of over four decades and switched its focus to PB and MDF manufacturing. We built production systems for formalin, resin, wax, LPM, and MFB, to successfully establish the company as a strong player in the field of top board. Moreover, Dongwha Enterprise completed the reinforced flooring factory in Korea for the first time, laying a cornerstone for growing into a total wood processing company. Even better, Dongwha Enterprise radically innovated the business system by building a next-generation information system. Externally, we established capacity to respond sensitively to changes in the external management environment, while systemizing and modernizing the business system.
While pushing for business innovation through efforts such as transitioning to a holdings company structure by corporate division, Donghwa also established its position as a global company by continuously expanding its market, reaching in particular Malaysia, New Zealand, and Vietnam.
Entering new business areas with its Auto Life business group (M Park) and Media business group (Hankookilbo, The Korea Times), Donghwa raised its status from Korea’s primary comprehensive wood processing company to a truly global corporation.