History

In 2010, Daewoo International Corp and Korea Minting & Security Printing Corp (KOMSCO) invested US$16 million into modernization and technical re-equipment of Yangiyul Pulp and Paper Mill.

KOMSCO has a 65 percent stake in Global KOMSCO Daewoo while Daewoo International controls the remaining 35 percent. The Government of Uzbekistan adopted decision to extend preferences, envisaged in the clause 1 of the presidential decree “On additional measures on stimulating attracting foreign direct investments” from 11 April 2005.

The establishment of GLOBAL KOMSCO DAEWOO shows a collaboration of KOMSCO’s cotton pulp manufacturing technology and Daewoo International’s experience of running a local and an international corporate body in Uzbekistan. The GKD has high experienced professional employees and sophisticated infrastructure, International standards, Client base across the world and by KOMSCO and Daewoo International.

 

History in Dates

 

Feb. 2010

Confirming the Memorandum of Understanding(MOU) between Government of the Republic of Uzbekistan and the Korean Consortium, Korea Minting and Security Printing & ID Card Operation Corporation and Daewoo International Corporation (In Lotte Hotel, Seoul) 

Jul. 2010

Signing the Investment Agreement between Government of the Republic of Uzbekistan and the Korean Consortium


Aug. 2010 

Signing and promulgation of the special President's Decree of Republic of Uzbekistan No.1390 for organization of modern production of cotton cellulose on the basis of Yangiyul Cotton Cellulose Factory 

 

Aug. 2010

Holding the General Meeting of Participants 


Sept. 2010

Foundation of GKD and Inauguration of First President of GKD Roh Won Sang 

Sept. 2010 
Signing the Purchase and Sale Agreement for Assets of the Former Yangiyul Cellulose Mill Between GKD and National Bank of Foreign Economic Activity of the Republic of Uzbekistan 

Oct. 2010 

Opening the GKD office in Tashkent City 


Dec. 2010

Acquisition of Assets of Yangiyul Cellulose Mill 


Dec. 2010

Starting the reconstruction of Yangiyul Cotton Cellulose Factory

(Construction part)



Feb. 2011

Starting the reconstruction of Yangiyul Cotton Cellulose Factory  
(Manufacturing Equipments part)

 
Apr. 2011

Closing the Tashkent Office and Moving into Yangiyul Cellulose Mill

 
Aug. 2011 

Launching Yangiyul Cotton Cellulose Factory & Manufacturing the first product 

2012

Furnishing the factory with Chinese technologies 


2013

Reconstruction of certain branches of Production Department to improve the quality of product. 

2014 
Reorganization of company Management System

 
2015 
Increase the number of customers in the world market 

 

2016 
Dispatch the company employees to Korea Republic to improve their qualification and mutual exchange of work experience

 
2017 
Allocation of new areas for construction of extra warehouses for storing products in a well condition 

2018 
Providing the company employees with entertainment opportunities: travel to mountain ranges travel to ancient cities of Uzbekistan Providing low-income schoolchildren with school uniforms

  
2019   
Sponsorship of district teenagers to participate in the Asian Championship in sports