IS Dongseo

The story of IS Dongseo begins not with a single company, but with two. It traces back to the founding of Ilshin Construction Industrial by Kwon Hyuk-woon. Initially, Kwon focused on building a reputation in the villa construction business in the 1990s before expanding into larger apartment projects. The company’s trajectory significantly changed in 2008. In a pivotal move, Ilshin Construction acquired Dongseo Industry, a building materials manufacturer that had been spun out of Hyundai E&C in 1975. This merger created the modern IS Dongseo, a vertically integrated company involved in both construction and the materials needed for it. With a belief that the company’s revenue should not be overly dependent on construction, Kwon Hyuk-woon guided IS Dongseo through a series of acquisitions to diversify its business portfolio. This strategy led them into varied industries, including the acquisition of a bidet manufacturer and an equipment rental company. This playbook of strategic acquisitions became a core part of the company's DNA. A significant evolution began around 2019 as IS Dongseo turned its focus toward the environmental sector. It started acquiring companies in waste management and recycling, such as Insun ENT. This new chapter was not just about diversification, but about building a new growth engine. The company has since established a complete value chain in waste battery recycling through further acquisitions, including a major stake in European EV battery recycling firm BTS Technology. This positioned IS Dongseo as a serious player in the growing climate technology and circular economy space, moving far beyond its origins in concrete and construction.