DC Chemical Launches its New CI
on the 50th Anniversary of its Founding

As of April 1, 2009, the new name of the company is OCI

DC Chemical Co., Ltd. held a ceremony today (April 8, 2009) at its corporate headquarters in Sogong-Dong, Seoul, Korea for the purpose of launching its new CI.  Chairman Soo Young Lee and President & CEO Woo Sug Baik presided over the ceremony, and over 200 employees of the company were in attendance. 

The company’s new name “OCI” means “The Origin of Chemical Innovation” and encompasses its core values of Future, Innovation and Leadership.  In particular, the name change represents OCI’s desire to foster a new image that represents its fundamental values and goals.

Another purpose for the name change is to obviate any misperception regarding OCI’s core businesses that may have been caused by its previous name, which in Korean contained the words “steel” and “chemical.”  Further, the goal is to eliminate any confusion that may have arisen due to the use of different corporate names domestically and abroad.

During the past 50 years OCI has become a global chemical company that engages in the manufacture of various product lines, such as inorganic chemicals, coal chemicals, petrochemicals and fine chemicals.  Recently, the company commenced production of polysilicon, an essential raw material for manufacturing solar cells and semiconductor wafers, representing a major step for its entry into the renewable energy industry.

Further, in spite of the difficult economic environment caused by the global financial crisis, the company was able to achieve record sales and net profits last year.  This was due to concerted sales efforts by the company and OCI’s successful entry into the polysilicon business, in addition to undertaking cost reduction measures and increasing productivity levels.  Nonetheless, OCI will not remain content to rest on its past success, and it intends to use the launching of its new CI as a strong base for further growth and innovation.

During the ceremony Mr. Baik stated, “The launching of our new CI is indeed an opportune time to increase the pace of change and innovation within the company and prepare OCI for the next 50 years.” He added, “This year we are determined to do our utmost to overcome the economic crisis, focus on our core business and revamp our operations with the eventual goal of becoming one of the leading chemical companies in the world.”