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
Sept. 2010
Foundation
of GKD and Inauguration of First President of GKD Roh Won Sang
Dec. 2010
Acquisition
of Assets of Yangiyul Cellulose Mill
Aug. 2011
Openning Yangiyul Cotton Cellulose Factory & Manufacturing the first product
2016
Dispatch the company employees to Korea Republic
to improve their qualification and mutual exchange of work experience