# KG Dongbu Steel to merge with subsidiary Dongbu Incheon Steel

KG Dongbu Steel approved a small-scale merger with its wholly owned subsidiary Dongbu Incheon Steel, effective March 1, 2020, aiming to cut costs by over 10 billion won annually and potentially sell the Incheon site and equipment.

- Type: Acquisition
- Announced: 2020-02-20
- Where: Incheon, South Korea, South Korea
- Status: announced
- Products: steel products, color steel sheets
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [KG Dongbu Steel](https://endata.com/companies/45403.md) (acquirer)
- [Dongbu Incheon Steel](https://endata.com/companies/45404.md) (target)

## Sources

- [dealsite.co.kr](https://dealsite.co.kr/articles/57002), 2020-02-20: "KG동부제철은 지난달 29일 열린 이사회에서 100% 완전 자회사인 동부인천스틸과의 소규모 합병에 대한 승인을 받았다."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.