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ㆍManagement Philophy
ㆍDevelopment History
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홈 > ABOUT COMPANY > Development History
Chairman Yoon-Kook Wang, the founder of Dong Won Fisheries is the wintness of Korean deep sea fishing industry in the Northern Pacific Ocean.

Chairman Yoon-Kook Wang established Sinheung Fisheries Co., Ltd. in 1954 right after the Korean War and started a freezer, refrigeration and fish processing business.

The business commenced with pilot fishing in Indonesia and eventually comprised a fleet of a 10,000 ton mother ship, fifteen 145 ton independent ships and one 500 ton transportation ship and explored salmon fishing in the Northern Pacific Ocean.

He handed over the company to Taeyang Fishing Co., Ltd. according to government policy and established Dong Won Fisheries Co., Ltd. on May 5, 1970.
We were successful in negotiations with Libya in 1984 and for the first time in Korean fishing history entered Mediterranean fishing grounds. We supplied high quality tuna to the janpanese and Korean markets.

In August 1970, we dispatched Dong Won 501 and 502 to the Kamchatka fishing area in the Northern Pacific Ocean and achieved remarkable success fishing Alaskan Pollack. To earn foreign currency, we went to the west African Coast fishing in Morocco, Mauritania, Guinea Bissau, and established a base in Las Palmas, Spain in 1971.

We explored and opened neighboring fishing grounds such as Las Palmas, Mauritania, Morocco, Guinea, Senegal and Ghana for 100 Korean vessels to fish these grounds.While exploring the Guinea Bissau fishing area, we contributed to creating a national relationship between Korea and Guinea Bissau as civil diplomats. Such an overseas fishing venture was made based on the thought that the way to increase profits would be through acquisitions.

We dispatched a pair of trawl vessels working in the African fishing field to New Zealand in 1983 to develop more deep-sea fishing areas, as these were being reduced due to the exclusive economic zones being established in many countries (200 nautical miles).Additionally, in 1991, we entered the South Indian Ocean and have been exporting high value fish species caught in these grounds to Japan. Currently three vessels are fishing in this area.
The car ferry business between China and Korea played role of a bridgehead in material and human resource exchange between Korea and China. We are proud of the contribution to building good relationship and activating the investment in this area.
We are trusted by the government of Sandong as well as people in this area.

In 1987, we built a freezer processing plant and coolstore in Saha-gu, Busan to store and supply necessary products to the public. We are doing our best to supply products that meet the needs of our customers using nature friendly materials.

In September 1990, before diplomatic relationships between Korea and China had been established, we established Wei-Dong Ferry Co., Ltd with a Chinese company. It operates between Incheon and Weihai and Incheon and Qingdao and is responsible for transportation of passengers and containers.

The investment would not have been undertaken, if we had been unable to forecast the economic exchanges between Korea and China. It was based on precise forecasting, a considerate business plan and assistance from Chinese friends of Chairman Yoon-Kook Wang. The car ferry business between China and Korea played the role of a bridgehead in material and human resource exchanges between Korea and China.

We are proud of the contribution in building good relationships and activating investment in this area. We are trusted by the Shandong government as well as people in this area. Our Chairman received an Honorary Citizenship from Weihai city and was appointed as an economic advisor by the People’s Government.

In 1995, we established “Weihai Dong Won Food Limited” and completed building a seafood processing plant in 1998. We automated all processes, installing conveyor systems to each processing line. In particular it is equipped with a state-of-the-art hygienic system including freezing, refrigerating and water purifying facilities. We will complete the second plant in July, 2004.
In 1996, we established San Won Limited, which constructed a 5,000 ton level freezer coolstore as an overseas investment and increased the capacity to 10,000 ton in 2002.

In November 1996, we listed on the Korean Stock Exchange and increased the capital to 10 billion won. Consequently, in May 1999, we issued overseas CB as much as US$5 million successfully to increase the capital to 14.8 billion won.
Our 19 ships are fishing day and night in the fishing area and our overseas investment companies such as Wei Dong Ferry Co., Ltd, Weihai Dong Won Food Limited and San Won Ltd. makes profit and dividend distribution is at hand.

The productivity of coastal fishing is limited due to a Fishing Agreement with Japan and China and it is difficult to meet peoples’ demands. We need to supply further products from other deep sea fishing areas. Actually, deep sea fishing is one of strongest export industries earning profits in the primary industry.

Additionally, fish caught in clean unpolluted zones will lead the dining culture of modern people. Therefore, deep sea fisheries that will supply fish sustainably, is a promising industry.We catch many species from overseas countries clean water zones, store them in our freezer cool stores and coordinate supply. Additionally, we build processing plants overseas and export processed goods to international markets.

As we have built a one-stop supply system from production to export, buyers trust us and our reliability is high.
Our 19 vessels fish 24 hours and our overseas investment companies such as Wei Dong Ferry Co., Ltd, Weihai Dong Won Food Limited and San Won Limited generate profits and dividend distributions will be made.

We remember that to increase value and profitability of the company, it is very important to create more profits through reasonable management in a stable financial structure. We are doing our best to be a first class company with global competitiveness and as a pioneer of sea food leading the 21st century.
Company Foundation Shareholding Percentage Annual Turnover(2011) BusinessArea
Weihai Dong Won Food Co., Ltd Nov 2 1995 50.00% U$ 12,174,772 Seafood Processing
You Wang Co., Ltd Apr 20 2004 51.00% U$ 36,689,500 Seafood Processing
SANWON LTD. Nov 26 1996 50.00% U$ 1,629,309 Cold Storage Business
WEIHAI YK TRADING May 10 2010 100.00% U$ 526,726 International Trading
YK Food Co., Ltd Oct 7 2011 100.00% 0 Food Distribution
YK Food Service Co., Ltd Jan 5 2012 60.00% 0 Franchise Business
Weidong Ferry Transportation Jun 17 1991 18.00% U$ 10,093,888 Passenger Transportation Business between Korea and China
Weidong Ferry Co., Ltd Sep 12 1990 10.00% U$ 106,502,725 Passenger Transportation Business between Korea and China