POSCO Selected as An Outstanding Company in Sustainability by DJSI

POSCO Selected as An Outstanding Company in Sustainability by DJSI For 13th Consecutive Year

On September 7, POSCO became the first steel company in the world to be selected and recognized for its excellence in sustainability for 13 consecutive years by the Dow Jones Sustainability Indices (DJSI), a global sustainability benchmark. This year, POSCO was selected as an outstanding company in the global sustainable management indices (DJSI World) from among 23 companies in the steel sector. POSCO received the highest environmental scores (water management and climate change), and excellent grades in shared growth, stakeholder management and sustainability reporting. POSCO is planning to share the sustainability assessment results with its related departments and further enhance the group’s sustainability in talent recruitment and retention, tax policies, human rights and measurement of impact on the local community....

POSCO Participates in the 2017 China International Auto Products Expo

POSCO Participates in the 2017 China International Auto Products Expo

POSCO took part in the China International Auto Products Expo (CIAPE), which was held at the National Exhibition and Conference Center in Shanghai from September 21st to the 23rd. CIAPE is the largest automotive parts expo in China, and has been sponsored by China’s Ministry of Commerce since 2008. As many as 200,000 people participate in the event, including over 2100 companies around the world to exhibit various automotive products. On display this year were various electric vehicles, components, electronics and automotive parts and manufacturing facilities. POSCO actively promoted POSCO GIGA STEEL at its exhibition booth where visitors browsed various automotive parts made of GIGA STEEL. Visitors were especially impressed with POSCO GIGA STEEL’s lightweight, cost-efficient and high-performance qualities, as...

POSCO Opens Its Second Wire Rod Processing Plant in Indiana

POSCO Opens Its Second Wire Rod Processing Plant in Indiana

POSCO opened a wire rod processing plant in the U.S., home to the largest wire rod market in the world, that will yield an annual production capacity of 25,000 tons. POSCO held a ribbon-cutting ceremony for its new wire rod processing center in Jeffersonville, Indiana      on September 22. More than 150 people, including POSCO CEO Ohjoon Kwon, Indiana Governor Eric Holcomb, Representative Trey Hollingsworth, Chicago’s Consul General Jong-guk Lee and officials from local customers such as Nissan, Fontana, Taeyang Metal Industrial Co., Ltd. and Semblex attended the ceremony. Wire rods are steel products used to make bolts, nuts, bearings and long steel used in automobiles, electronics, industrial machines and construction. POSCO is planning to focus its production on high-end automotive...

POSCO-MPPC Receives the Supplier for Quality Excellence Award from GM for 3 Consecutive Years

POSCO-MPPC Receives the Supplier for Quality Excellence Award from GM for 3 Consecutive Years

On September 7, POSCO-MPPC, an automotive steel plate processing corporation in Mexico, received the Supplier for Quality Excellence Award from GM Mexico for the third consecutive year. Each year, GM Mexico evaluates its partners on 13 criterion, including process, quality and delivery for the Quality Excellence Awards.   POSCO-MPPC received the highest grades in all areas of evaluation and was the only recipient in the local steel materials processing and supply category. Over the years, POSCO-MPPC and GM Mexico have worked closely together to meet project deadlines and maintain a high standard of product quality. On one occasion, POSCO-MPPC dispatched a team of engineers to the GM San Luis Potosi (GM SLP) plant to address quality issues and quickly resolved...

POSCO DAEWOO Completes Uzbekistan's Biggest Combined Cycle Power Plant

POSCO DAEWOO Completes Uzbekistan’s Biggest Combined Cycle Power Plant

On August 29, the POSCO DAEWOO-Hyundai E&C consortium completed a 929 megawatt (MW) combined cycle power plant in Talimarjan, Kashkadarya, approximately 440km southwest of Tashkent, the capital of Uzbekistan. Kashkadarya Governor Ruziev Zafar Sharopovich, Uzbek government officials, POSCO DAEWOO Managing Director Hyun-soo Kim, and representatives from Hyundai E&C and the Asian Development Bank were among the attendees at the completion ceremony. The project dates back to March 2013, when Uzbekistan’s state power authorities and the POSCO DAEWOO-Hyundai E&C consortium signed a construction agreement for the 929 MW combined cycle power plant. The USD 862 million project was financed by the Asian Development Bank. This is the biggest single-unit power plant in Uzbekistan, and will account for 6.6 percent of all...

POSCO E&C Rising Star in Southeast Asia

POSCO E&C: Rising Star in Southeast Asia

POSCO E&C recently won a contract to build the Matarbari coal-fired thermal power plant construction project in Bangladesh. The Matarbari power plant construction project includes the construction of a 1200㎿ (600㎿ x 2ea) coal-fired thermal power plant on Matarbari Island, Chittagong, approximately 280km southeast of Dhaka, the capital of Bangladesh. Site improvement and port construction are also part of the project, expected to last 7 years. POSCO E&C invested a total of USD 4.5 billion in this project which is the largest coal-fired thermal power generation project in Southwest Asia. POSCO E&C is in charge of civil engineering for the power plant worth USD 840 million and the construction of the coal processing facilities and subsidiary facilities. The Bangladeshi government...

Yangon, Myanmar Gets a New Landmark

Yangon, Myanmar Gets a New Landmark

On September 1, POSCO Daewoo will open Yangon Hotel, the best luxury hotel in Myanmar. Yangon Hotel has a five-star rating and is near Inya Lake in Yangon, the economic heart of Myanmar. Its total area is 104,123㎡, which includes a 15-story luxury hotel (343 rooms), and a 29-story residence hotel (315 rooms). Also on the grounds are various facilities including a convention center, restaurants and a swimming pool. POSCO Daewoo supervised the whole process from bidding to development and operations. It also manages overall hotel business operations as the project supervisor, and Lotte Hotel is in charge of hotel management under the name “Lotte Hotel Yangon.” POSCO Daewoo acquired the right to use the land for the hotel site...

POSCO’s Impressive Q217 Results

POSCO’s Impressive Q217 Results

POSCO’s Q217 recorded a consolidated revenue of KRW 14.944 trillion, operating profit of KRW 979.1 billion and a net profit of KRW 530.1 billion. On July 20, POSCO announced these figures during an investor conference call for Q217. POSCO executives explained that performance declined slightly due to the deterioration of earnings in the steel, construction and energy sectors, but its consolidated revenue and operating profit rose by 16.2% and 44.3% YoY, respectively. Another factor that slowed growth was renovations for POSCO’s Pohang Blast Furnace #3 and the hot-rolled and thick plate plants. As a result, crude steel production and sales decreased in the second quarter. Also, due to sales of high-priced inventory, which was produced in the first quarter when...

POSCO Expands Smartization to Clients and Affiliates

POSCO Expands Smartization to Clients and Affiliates

On July 19, POSCO held its Smart POSCO Forum 2017 at the POSCO Center to share the results of its smart projects with employees and partners. POSCO hopes to increase the application of smart technology internally as well as externally with partners and affiliates. As many as 700 people attended the forum including POSCO Group affiliate employees, as well as those of POSCO’s major suppliers, outsourcing partners and AI-related professors. Notably, employees from Nastech and Korinox, where POSCO is carrying out smart factory support projects, participated as well. “POSCO must continue to take up the challenge of implementing a smart POSCO in preparation for the dawning of the 4th Industrial Revolution. We will apply smart technologies to all processes of...

Who was Named the World’s Most Competitive Steelmaker by WSD

Who was Named the World’s Most Competitive Steelmaker by WSD?

On June 26, WSD (World Steel Dynamics), the world’s leading steel industry analysis agency, announced POSCO as the world’s most competitive steelmaker at the 32nd Steel Survival Strategies event held in New York. As many as 650 employees from major steelmakers, consulting companies, and market research organizations were in attendance. POSCO has been recognized as the leading company among the world’s top steelmakers for the past eight consecutive years. To note, POSCO received this year’s honor in the midst of difficult domestic and overseas market conditions due to last year’s global oversupply, tighter import regulations triggered by the spread of protectionism and internal financial restructuring. The Steel Survival Strategies held discussions on current trends and future strategies of the global...

READ MORE