A ceremony was held on April 11, 2014 in Busan, Korea to celebrate the 50th anniversary of trade relations between Korea's Kiswire Ltd. and Mitsui & Co., Ltd.
A total of 70 guests attended the lavish ceremony, including Kiswire CEO Hong Young-chui, Mitsui Executive Vice President Daisuke Saiga and Iron & Steel Products Business Unit Chief Operating Officer Noboru Katsu, as well as former members involved in the early days of the trade relationship.
In 1945 Kiswire was established as an importer of wire rope. From 1964 it began importing wire rods from Japanese steel manufacturers, and started producing high quality, competitively priced wire products. Since then it has continued to thrive as a producer of superior products. When the trade relationship was first established, the staff at Mitsui found that Kiswire's philosophy, passion, and growth strategy was similar to their own, and therefore sought to expand the relationship.
Since then, after overcoming many challenges, Kiswire grew to take the proud position as the world's second largest wire products manufacturer, boasting a production volume of 1 million tons per annum.
Executive Vice President Saiga gave a congratulatory address on behalf of Mitsui, and said, "As the late former Chairman of Mitsui, Eiichi Hashimoto, who was involved with this trade relationship in the early days, once said, 'The individual builds the business, and the business cultivates the individual,' we would like to contribute more than ever to the development of all respective companies involved in this transaction."
Based on these relationships of trust built over many years, Mitsui continues to focus on expanding meaningful business ties even in the drastically changeable supply-and-demand environment of steel products, forging steadily on towards the next 50 years.