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Title Gyeongbuk City Gas Changes its Name to Daesung Clean Energy 2013.03.21

FROM: Daesung Group

Gyeongbuk City Gas Changes its Name to 
Daesung Clean Energy

[March 21, 2013] Gyeongbuk City Gas Corporation, a subsidiary of Daesung Group (Chairman Younghoon David Kim), changed its name to Daesung Clean Energy Corporation on May 21st. Daesung Clean Energy announced that the name change was agreed to during its annual shareholder meeting held at its headquarters located in Songhyeon-dong, Andong-si, Gyeongsangbuk-Do. 

A company official said “The company decided to change the name as a part of the efforts undertaken over the past few years to unify the corporate identity of Daesung Group. In 2011, Daegu City Gas changed its name to Daesung Energy. In 2010, BiNEXT Capital Corporation was renamed Daesung Private Equity, while Acts Capital Management was also renamed Daesung Capital Management. Subsequently, Gyeongbuk City Gas has now changed its name.”

The official added, “With this opportunity, we hope to improve the external brand awareness of our company as a subsidiary of Daesung Group, an energy specialist group. We also expect to create synergy in terms of business expansion as well.” 

As one of the main subsidiaries of Daesung Group, Daesung Clean Energy was established in 1997 and has been providing approximately 77 million m3 city gas (as of December 2012) to more than 46,000 households in Andong-si and Yeongju-si of Gyeongsangbuk-Do. To provide clean and convenient city gas, Daesung Clean Energy is continuously working to expand its service areas and will start supplying city gas to Yecheon-gun beginning on March 28. 


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