Posco Daewoo

In 2018 the U.S. state of Iowa listed Posco Daewoo as an Iran restricted company rendering Posco Daewoo ineligible for investment and/or state contracting. Combine with the Daewoo page.

Daewoo International reportedly participating in the Iran Mines & Mining Industries Summit, being held in Tehran May 31-June 1, 2015. (IMIS Website, “List of companies participating in IMIS”) (http://www.imis2015.com/index.php/list-of-companies-approved-their-participation.html)

As of August 15, 2019, the state of Iowa listed Posco Daewoo on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017%2009%20Iran%20Prohibited%20Companies%20List%2009-30-17.pdf)

"Daewoo International maintains an office in Iran, according to its website. It is an international trading company involved in everything from chemicals to construction. Daewoo Corporation won construction contracts from the  U.S. Army Corps of Engineers while Daewoo International fell under its corporate umbrella. Daewoo International was subsequently spun off and today is a separate company."  The company received $10.4 million from the US government for their investments in Iran during 2000-2009.  Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010) (http://www.nytimes.com/interactive/2010/03/06/world/iran-sanctions.html)

Daewoo International is a subsidiary of South Korean Steel Company POSCO (http://www.unitedagainstnucleariran.com/company/posco)

Company website lists branch in Tehran, Iran as part of its "Global Network." (Company website) (http://www.daewoo.com/english/index.jsp)

"Posco Daewoo, along with Hyundai Engineering & Construction (E&C), signed a deal with Iran's Ministry of Health and Medical Education to build a hospital for Shiraz University of Medical Sciences, one of the country's top medical schools. Posco Daewoo will supply medical equipment, while Hyundai E&C will be responsible for construction.” (Korea JoongAng Daily, “Posco signs deals to export its tech to Iran,” 4/29/2016) (http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3018110&cloc=joongangdaily%7Chome%7Cnewslist1)

As of May 17, 2021, Iowa's Public Employee's Retirement System lists Posco Daewoo on its Iran Scrutinized Companies List. (https://www.ipers.org/sites/default/files/IPERS%27%20Iran%20Prohibited%20Companies%202Q21.pdf)