POSCO Automakers’ Solution Partner in the Age of Electric Vehicles

POSCO: Automakers’ Solution Partner in the Age of Electric Vehicles

From October 30 to November 1, POSCO hosted the 2017 Global EV Materials Forum at the Songdo Global R&D Center in Incheon. The theme of the forum was “A Bold Leap Forward Towards Becoming a Total Solution Provider for Electric Vehicles,” reflecting POSCO’s resolve to become the leading supplier of core electric vehicle materials. POSCO welcomed more than 380 local and overseas customers to the forum where they announced the current status of POSCO Group’s EV projects and strategies. The company also showcased its core EV technologies for high-value-added products such as motors, batteries and lightweight chassis/bodies. During the forum, POSCO highlighted customer needs, market trends and development statuses in three areas: lightweight materials, traction motor cores and batteries. POSCO...

Moody’s Upgrades POSCO’s Credit Rating Outlook to “Positive”

Moody’s Upgrades POSCO’s Credit Rating Outlook to “Positive”

On October 26, Moody’s, an international credit rating agency, upgraded the outlook for POSCO’s long-term corporate credit rating of Baa2 from “stable” to “positive.” The last time POSCO’s credit rating outlook saw an upgrade was a year ago in October, when Moody’s upgraded POSCO’s credit rating outlook from “negative” to “stable.” Moody’s forecasted that POSCO’s financial status will improve in the next 1-2 years as a result of increased profits from the sales of POSCO’s high-value-added products and decreased borrowings due to the improvement of global market conditions. In particular, the ratings agency predicted that POSCO’s EBITDA (earnings before interest, taxes, depreciation, and amortization) will increase by 20-25 percent over the previous year, and its debt to EBITDA ratio will...

POSCO’s Q317 Results Highlight Continued Growth

POSCO’s Q317 Results Highlight Continued Growth

Stakeholders were met with plenty of good news at POSCO’s Q317 IR session held on October 26. To start, POSCO’s Q3 consolidated sales amounted to KRW 15.361 trillion, its operating profit KRW 1.1257 trillion, and its net income KRW 906.6 billion. It also noted that sales increased by 0.6 percent, its operating profit by 15 percent, and its net income by 71 percent QoQ. The figures reflect the improved performance of its non-steel affiliates, including its energy and ICT division, as well as the enhanced results of its domestic and overseas steel business. To add, the improved performance of its principal overseas steel subsidiaries contributed to the overall increase in operating profit. The operating profit of its Chinese stainless steel...

Ohjoon Kwon vice chariman World Steel Association

POSCO CEO Ohjoon Kwon Appointed Vice Chairman of World Steel Association

CEO Kwon will serve a 3-year term as part of  WSA’s leadership from October 2017 to October 2020. According to WSA’s regulations, he will become the chairman next year. Once appointed to the leadership of World Steel Association, the appointees serve as vice chairman in their first year, chairman in their second year and vice chairman again in their third and last year. Being in a global leadership position is not new to CEO Kwon. He served as the chairman of WSA’s Technical Subcommittee since 2012, when he was president of POSCO, and since 2014, he served as a member of the executive committee, the highest decision-making body of the organization, when he was inaugurated as the CEO of POSCO....

POSCO Signs PosMAC Supply Agreement with British Manufacturer Top Tubes

POSCO Signs PosMAC Supply Agreement with British Manufacturer Top Tubes

On October 12th at the POSCO Center, POSCO signed a PosMAC supply agreement for pipe production with Top Tubes, a British pipe manufacturer specializing in cold rolled and galvanized steel. Among the attendees of the signing ceremony were Adam Bradley, CEO of Top Tubes, Byeong-ryong Suh, Head of POSCO Construction Steel Materials Sales Group and Chae-il Lim, Head of POSCO Daewoo Hot-Rolled Sales Group. Top Tubes is a UK-based company established in 1994. POSCO first supplied test products of PosMAC steel to Top Tubes in 2012, and in 2013 sold PosMAC for the first time in Europe. In 2016, when zinc-magnesium coated steel was gaining traction globally, CEO Bradley visited South Korea to discuss an extended application plan for PosMAC....

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: A Solutions Partner for the Gas Industry

POSCO: A Solutions Partner for the Gas Industry

POSCO participated in the 2017 Asia Pacific Gas Conference (APGC 2017) held at Daegu EXCO from September 27 to 29 to showcase its steel products for the gas industry, including high manganese steel and LNG storage tanks. The Asia Pacific Gas Conference is the only gas-related international conference in Korea, first held in 2015. This year, under the theme of natural gas in the future energy market, more than 100 domestic and overseas companies participated, and showcased new technologies and products. POSCO promoted its high manganese steel, 9% nickel steel, stainless steel and POSCO E&C’s LNG Terminal design and construction technology during the event. The exhibition space at this year’s event was divided into Product, Solution, PR and Business zones,...

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 Participates in the 2017 Renewable Energy

POSCO Participates in the 2017 Renewable Energy India Expo with PosMAC Steel

POSCO India participated in the Renewable Energy India (REI) Expo 2017 at Greater Noida, India from September 20 to 22. Chairman and Managing Director Gee Woong Sung, along with other employees, took part in the REI Expo to promote POSCO INDIA’s solar photovoltaic (PV) structures. The REI Expo is one of the world’s largest new and renewable energy exhibitions. More than 725 companies from 40 countries participated in the Expo, along with approximately 50,000 visitors. The turnout was largely due to the Indian government’s infrastructure expansion and intensive investment plans for new and renewable energy. POSCO India’s booth at the event showcased its solar PV structures made of PosMAC steel to major solar companies and structure manufacturers such as Adani,...

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