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
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
Signing the Investment Agreement between Government of the Republic of Uzbekistan and the Korean Consortium
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
of GKD and Inauguration of First President of GKD Roh Won Sang
Acquisition of Assets of Yangiyul Cellulose Mill
Openning Yangiyul Cotton Cellulose Factory & Manufacturing the first product
Dispatch the company employees to Korea Republic to improve their qualification and mutual exchange of work experience