Dongbu Group

Dongbu Group is a “Global conglomerate corporation which operates through seven business segments with 59 subsidiaries and 40,000 employees.” These segments include steel, chemicals, construction and electronics. Dongbu CNI, a Dongbu Group subsidiary specializing in IT and electronics, lists an office in Tehran. Other Dongbu subsidiaries and major affiliates, including Dongbu Corporation, hold $40 million in contracts with the U.S. government.  (http://www.dongbu.com/eng/about/about_history.asp) (http://www.dongbu.com/eng/networks/global.asp) (http://www.usaspending.gov/search?form_fields=%7B%22search_term%22%3A%22DONGBU+CORPORATION%22%7D)

According to Korean and Iranian media sources, Korea Development Bank (“KDB”), as a creditor for Dongbu Steel, is considering “putting off the plan … to sell off the cash-strapped company’s [Dongbu Steel] electric furnace used for hot-rolled steel production [at the Dangjin plant] to an Iranian steelmaker amid concerns that the U.S. could walk out a nuclear deal with the Middle Eastern country.”  (Pulse News, “S. Korea’s creditors may call off Dongbu Steel furnace sale to Iranian steelmaker,” 10/23/2017; Financial Tribune, “S. Korean Firm May Call Off Furnace Sale to Iranian Steelmaker,” 10/26/2017).

"Iranian electronics manufacturer Entekhab plans to acquire Dongbu Daewoo Electronics by purchasing a 100 percent stake in the smaller Korean consumer electronics firm, local financial sources said Sunday." (January 2018). (https://www.koreatimes.co.kr/www/tech/2018/01/694_242800.html/)