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POSCO Dreams of 500 billion dollars in Sales

On April 1st, the 50th anniversary of POSCO, named ‘Future Vision Ceremony’ was successfully held. The main topic of the anniversary was not only celebrating 50th years POSCO’s efforts both industrial and social fields but also suggestion of future directions of POSCO, ‘Missions and Visions’  ‘Unlimit the limt: Steel and Beyond’ POSCO is dreaming of KRW 500 trillion in consolidated sales in 2068, the 100th anniversary of the company. On the occasion of its 50th anniversary, POSCO held the ceremony to declare its future vision, and announced the mission and vision as a global centennial enterprise at the POSTECH gymnasium at the 50th anniversary of POSCO on April 1, and announced its mission and vision of being one of the...

POSCO Awards 2018 TJ Park Prize to Outstanding Innovators

POSCO Awards 2018 TJ Park Prize to Outstanding Innovators

On March 21, the POSCO TJ Park Foundation held its 2018 awards ceremony at the POSCO Center. The POSCO TJ Park Awards were established in 2006 to honor the legacy of the late Chairman Tae-joon Park, who laid the groundwork for the industrialization and modernization of Korea and encouraged citizens to adopt POSCO’s founding principles of creativity, talent development, sacrifice and service. This year marks the foundation’s 12th anniversary. The recipients this year were selected among candidates recommended by leading domestic and overseas institutions and experts after 6 months of screening. The selection process included a review by a committee of experts from various fields. Counseling and final evaluation were conducted by renowned scholars in Korea and abroad. The science...

POSCO Provides AI and New Steel Product Education for

POSCO Provides AI and New Steel Product Education for Overseas Executives

For two days from March 14, POSCO Group University provided education on AI and new steel products for 17 executives working overseas, including presidents of overseas subsidiaries, general managers and heads of overseas offices. The purpose of this program was to enhance their understanding of artificial intelligence and new steel products in order to improve the competitiveness of overseas subsidiaries by spreading POSCO Smart Solutions. At first, in the lecture about ‘Smart Technology and Business Model Innovation,’ they learned about the influence of smart technologies, such as the 4th Industrial Revolution, big data and artificial intelligence, on business models, and in the lecture about ‘Big Data and Cases that Can Be Utilized in Manufacturing,’ they reinforced their understanding of big...

POSCO Holds the 50th General Meeting for Shareholders

POSCO Holds the 50th General Meeting for Shareholders

POSCO held the 50th General Meeting for shareholders and the board of directors (BOD) meeting at the POSCO Center on March 9. More than 200 domestic and overseas shareholders, including the representatives of overseas shareholders and institutional investors, attended the meeting. Former Minister of Maritime Affairs and Fisheries Seong-jin Kim was newly elected as an outside director and former chairman of the Korea Employers Federation Byeong-won Park was re-elected as an outside director. CEO & President In-hwan Oh and vice-presidents Joong-seon Jeon, In-hwa Jang and Seong Yoo were appointed as inside directors. At the BOD meeting held shortly after the general shareholders’ meeting, Joo-hyeon Kim was elected as chairman of the board of directors, and president In-hwa Jang, was announced...

POSCO-Samsung SDI Consortium Wins Lithium Project in Chile

POSCO-Samsung SDI Consortium Wins Lithium Project in Chile

The Chilean Production Development Corporation (CORFO) announced on March 10 that the POSCO-Samsung SDI consortium was selected among global bidders to lead a lithium project that would produce cathode materials in Chile out of local lithium. Since last May, CORFO had been accepting bids for a cathode production project to expand the downstream lithium industry and foster the industry in Chile. 12 companies from a total of seven countries – Korea, Chile, the US, Canada, China, Russia, Belgium – participated in the bid, and POSCO and Samsung SDI were selected. The POSCO-Samsung SDI Consortium will invest KRW 57.5 billion to establish a joint venture for the production of cathode materials in the city Mejillones of Northern Chile. It also plans...

POSCO and GE Combine Their Smart Factory Platforms

POSCO and GE Combine Their Smart Factory Platforms

On February 12, POSCO CEO Ohjoon Kwon, GE’s Chief Executive Officer of APAC, Wouter Van Wersch, President of POSCO ICT, Doo-hwan Choi and Chief Digital Officer of BHGE (Baker Hughes, a GE company) Matthias L. Heilmann, held a signing ceremony for their MOU at the POSCO Center. Both companies hope to further “strengthen technical and business cooperation domestically and abroad to apply Smart Factory platforms.” Therefore, POSCO and GE combined PosFrame, POSCO’s Smart Factory platform, and APM (Asset Performance Management)*, GE’s representative Smart Factory solution, to develop and commercialize PosFrame+, a hybrid Smart Factory platform optimized for steel facilities. POSCO’s PosFrame is specialized for the steel industry, capable of collecting all information from the production process for analysis and visualization....

POSCO Opens its First Overseas Structural Steel Solutions Center in Vietnam

POSCO Opens its First Overseas Structural Steel Solutions Center in Vietnam

POSCO opened its first-ever structural steel solution center abroad in Vietnam. The opening ceremony was held on February 7 at POSCO SS VINA, attended by some 50 officials including Oh In-hwan (COO, POSCO), Ho Nghia Dung (President, Vietnam Steel Association) and Bui Anh Hoa (Vice President, Hanoi University of Science and Technology). In recent years, Vietnam has undergone rapid urbanization with subsequent advancements in housing, energy and infrastructure. As such, demand for structural steel is expected to reach 24 million tons by 2020. The figures represent 80 percent of Vietnam’s entire steel demand, making Vietnam a booming market for steel consumption in Southeast Asia. As the Vietnamese construction industry is projected to see an annual growth rate of 7 percent...

POSCO-CDPC Receives Supplier of Excellence Award from DPCA

POSCO-CDPC Receives Supplier of Excellence Award from DPCA

On February 6, POSCO-CDPC, an automotive steel sheet processing center located in Sichuan, China, received the Excellent Supplier Award from car company DPCA (Dongfeng Peugeot-Citroen Automobile Company LTD). During the award ceremony, 14 excellent suppliers were selected in the fields of distribution, parts, design, electrical and electronic systems. Among the selected companies, POSCO-CDPC is the only processing company that handles raw steel materials. The DPCA Chengdu production base has an annual production capacity of 360,000 vehicles, and started operation in September 2016. POSCO-CDPC’s No. 2 plant moved into DPCA’s facilities to supply entire orders of blanking processing at the end of 2014. POSCO-CDPC was selected as an Excellent Supplier based on its product quality, delivery and service over the years...

POSCO Enters Chinese Cathode Materials Market

POSCO Enters Chinese Cathode Materials Market

POSCO recently established joint ventures with Huayou Cobalt to enter the world’s biggest lithium-ion battery market in China. This partnership allows POSCO to produce precursors and cathode materials in Tongxiang, located in the Zhejiang Province of China. At the shareholders’ general meeting held on the Jan 24 at the POSCO Center POSCO finally approved the contract for the two joint ventures – one for the production of precursors, and the other for cathode materials. (A precursor is made by combining cobalt, nickel and manganese in a blast furnace to manufacture cathode materials. The final product of cathode materials is a combination of precursor and lithium.) Huayou Cobalt is one of the world’s biggest mining companies that can produce about 50...

POSCO and UNESCO Support Out-of-School Children Throughout ASEAN

POSCO and UNESCO Support Out-of-School Children Throughout ASEAN

The POSCO 1% Sharing Foundation became partners with UNESCO through a signing ceremony at UNESCO’s headquarters in Paris. The foundation is the first partner for UNESCO’s Project for Out-of-school Children throughout ASEAN, which starts this year. Back in September 2016, 28 ASEAN heads of state, education ministers and representatives of the Southeast Asian Ministers of Education Organization gathered together and committed to tackling the problem of youth without regular education. The Project for Out-of-school Children in ASEAN is a follow-up to the declaration, and it’s the first project that UNESCO is carrying out this year alongside an enterprise. The POSCO 1% Sharing Foundation is aiming to leverage the Flexible Learning Strategies (FLS) program developed by UNESCO, to provide alternative education...

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