Daewoo & Doosan – officially known as “The Doosan Group” has been in business since the end of the 19th century. Formed in 1896 in Baeogai – now a district knows as Jongno 4-ga, Seoul in South Korea – the company started as the Park Seung Jik Store. In addition to manufacturing construction equipment, Daewoo & Doosan has a large focus on consumer products. Acquisitions has been a large part of The Doosan Group’s expansion strategy. Companies that have been scooped up over the years include Korea Heavy Industries and Construction, Koryeo Industrial Development, and Daewoo Heavy Industries & Machinery. More recently, Doosan acquired boiler engineering conglomerate Mitsui Babcock UK, Kvaerner IMGB which specializes in casting and forging and Bobcat USA, the well known construction machinery manufacturers. Worldwide, Doosan employs over 40,000 people in 3 dozen countries.