To overcome the energy crisis in 1970 and the weakening of the global competitiveness of the Korean timber industry due to resources nationalism, DONGWHA tried to convert its labour intensive sawmilling business into a technology intensive and high profit business with the construction of its particle board manufacturing facility. This move marked its 2nd foundation. Moreover, DONGWHA launched the KORINDO group in Indonesia, which has since grown into one of Indonesia’s largest business groups.

DONGWHA has grown to become a leader among wood-based panel manufacturers in Korea as well as in Asia, starting with its construction of Korea’s first MDF plant. DONGWHA has continuously expanded its business with expansion of PB2 and MDF2 plants and completion of LPL and MFB plants.

While strengthening its surface material business with expansion of its LPL and MFB plants, DONGWHA launched its consumer products, such as laminated flooring, wall panels, windows and doors, to upgrade and expand its business. DONGWHA also laid the groundwork for the company’s rebound in the 21st century as a leading company, through its acquisitions of Daesung Wood Ind., in Korea and Golden Hope Fibreboard, Golden Hope Furniture and Golden Hope Parquet in Malaysia and its setting up of a new C.I.

In 2003, DONGWHA was converted into an operating holding company through a split-off, to strengthen its transparency in corporate governance, centralize its core competence management, and enhance its corporate value. DONGWHA was certain that this move would accelerate its growth and profitability as a global company.