Kyungbang

Mr. Joon, Kim

Chairman

“Under the domination of Japanese colonialism, the hope of gaining independence under the notion of founding is “Our fabrics are made by our hand”. The biggest target in 1960s-1970s was a leader.

Nowadays, Korea has become a developed country with developed economy, supported by international economy with foundation of pioneering spirit, challenge and escape from developing country, dependence on aid. There are many enterprises behind this history of economic development, and KyungBang is one of those enterprises.

To achieve ninety-year history, KyungBang had passed through many harsh challenges, it overcame risk of crisis to train spirit in the vortex of innovation and reformation. Therefore what KyungBang get are more precious. Overcome challenges of changes, fierce competition between manufactures, we are proud of ninety-year history of KyungBang – history of economy and industry.

Since KyungBang was founded, it has contributed to improve the value of social life and always be proud of a nation enterprise. In the future, we will inherit and develop KyungBang’s spirit more.

With the role of a leader in yarn industry, KyungBang will expand more and more its mission. It is also preparing for next one-hundred-year, a nation enterprise with foundation of harmony responsibility, solidarity, creativity and we will nurture and improve KyungBang’s spirit.”

SYMBOL MARK – OUR MESSAGE

The symbol mark that is used today is created in 1969, while “50 years of KYONGSUNG’s spinning and weaving” was published.

This symbol mark is recreated from the original and has meanings as follows

> Each white balls stand for boll of cotton.Circle shaped six white balls symbolize for cluster of cottons and six flowers, crystal of white snow.

> Cubic effect of combined balls stands for saltation with strong combination.

HISTORY OF KYUNGBANG

1919 ~ 1923
1935 ~ 1944
1945 ~ 1959
1960 ~ 1972
1973 ~ 1978
1979 ~ 1989
1990 ~ 2001
2002 ~ 2009

Established KYUNGBANG Spinning Co., Ltd which developed & grew asthe modern business.

After the National Independence Movement, KYUNGBANG was founded in Taehwakwan on Oct 05^th, 1919. Our main business at that time was Yarn manufacturing.

The initial Testing room

Synthetic weaving company – the only one in Jo-Sun.

Before the Liberation Period, KYUNGSEONG which major industries were Nature Cotton Yarn & Fabric Weaving, owed Yeongdeungpo plant – the center one with 3 factories in Namcheon, Eun-Yul, Pyeong – Yangdeung & 4 other factories in Uijeongbu, Yangpyung-dong, Sangrimdong, Shiheung. Simultaneously, we also lead the market with our South Manchuria Spinning Plant in China. It was such a big company that you could not find another in Korea.

South Machuria Spinning Plant

Challenges & Testing
On the occasion of National liberation Day, KYUNGBANG spent 20% Sales expenditure for Special Award to all of the company’s employee. The value of this award was 100 times as much as their salary. That award has been a proud memory up to now.

Changing mission with the 50th aniversary of establishment.

KYUNGSEONG guranteed itself without any supports from the Bank or Gorvenment. It was the best thing to KYUNGSEONG in this time because there were so many companies that could not pay back their loan to the Bank. KYUNGSEONG loaned the capital from the Trader for keeping on the business.

Yongin Weaving and spinning Plant (1974)

Technological solution &business diversification
In the other companies, all of their machines had to be consistent. It means they just bought 1 trade mark for all the machines which were applied through the production line. But KYUNGBANG break though that common practice. Our Company imported and used advance technologies from Belgium, West Germany, England, USA, Japan, Switzerland. This decision made us to have more advance machines for our factories.

Balwol Dyeing Plant (1983)

Building sustainable base for economic jump in the second phase.

Economic inflation made Korea currency (Won) devaluated. Consequently, other businesses increased to export to developing countries. It meant they had to down the price. Of course, their profit was lower than before. However, KYUNGBANG was in another side. Its net income achieved a record with Won 1,150 billion in the first six month of the year 1982.

The 80th anniversary of KYUNGBANG foundation

Globalization – Challenges & Opportunities
The 1990s was the innovation stage which bring about a turning-point favorable to Korean Economic. The fact that Korea was so dependent on the foreign trade market. With the rapid growth of the Korea’s economy in 1980, however, began to reduce the dependence, the most prominent industries were the low oil price, low interest rate and low rate of the US dollar. 1990, the year of globalization with the independent economy, brought about new challenges & Opportunities as well.

Times Square (2009)

Focus & select.
After the year of 2001, our business strategy was focus & select. KYUNGBANG restructured according to reducing member firms which were not our strength at that time.To increase our competitiveness in weaving industry, we promoted to apply modern equipage for factories in Yongin & Kwangju. In the other hand, we focused on real-estate development. And also constructed Times Square – The modernist shopping Centre in Korea.