After 20 years of tenure at Hyundai Corporation, Korean-born Mr. Keun Bae Lim leaves to start up a company in Beijing to leverage his extensive trading experience in developing countries.
GyuWoo officially registered as a corporation in 1994, and started trading steel, and chemical raw materials between China and South Korea.
Faced with the sheer amount of competition in trading steel and chemical raw materials in China, Keun Bae Lim found great potential in the rising Chinese shipbuilding industry, and quickly switched focus.
GyuWoo corporation became the first corporation in 1995 to introduce South Korean companies to the Chinese shipbuilding industry.
Thanks to the trust and support of clients, GyuWoo corporation reaches US$10 million in total annual sales, a 500% increase since entering the shipbuilding industry in 1995.
With the rising Chinese interest in green energy, GyuWoo corporation became the first corporation to introduce South Korean companies to the Chinese wind power industry in 2005.
Thanks to the trust and support of clients, as well as the rapid growth in the worldwide shipbilding industry, GyuWoo corporation reached US$50 million in total annual sales in 2007, a 500% increase in a span of 4 fiscal years.
In times of 2008 global financial crisis, GyuWoo corporation, together with Hyundai Heavy Industries, became the first to introduce the innovative and cost-saving Complete Knock Down method to the newly established Chinese Main Engine builders.
With the steady rise in quality of Chinese manufactured marine and marine engine equipments, GyuWoo corporation spun off Y+C Company Ltd. in 2010, a Chinese company focusing on both intra-China trading as well as importing and exporting goods to and from China. GyuWoo is one of only few foreign corporations to successfully receive government permission to establishe such a business entity in China.
To this day, both Gyuwoo & Y+C Company continues to focus on importing and exporing products from and to China.