POSCO Participates in Offshore Technology Conference 2017

POSCO Joins Energy Partners at Offshore Technology Conference

For the 10th year in a row, POSCO joined its partners in the energy sector at the Offshore Technology Conference (OTC) from May 1-4. OTC provides a forum for companies in the energy industry to meet, exchange ideas, and share knowledge related to offshore resources and environmental matters. POSCO worked with its partners to meet with new potential clients in the engineering, procurement, and construction (EPC) fields. Just as it did the previous year, POSCO presented a booth together with the offshore tool and material manufacturers in the energy industry. POSCO also consulted with various companies to expand new markets for its World Premium Products, including the high manganese steel for slurry pipes, steel for LNG terminals, and steel bars...

POSCO Builds Automotive Steel Plant Exclusively for POSCO GIGA STEEL

POSCO Completes Auto Steel Plant Exclusively for POSCO GIGA STEEL

On April 26, POSCO held the completion ceremony for its No. 7 Continuous Galvanizing Line (7CGL) in Gwangyang. This is the first automotive steel plant built exclusively to produce POSCO GIGA STEEL – an advanced high strength steel with a tensile strength of 1.5GPa (Gigapascal). POSCO GIGA STEEL can withstand more than 100 kg of load per 1mm², meaning that a 150 cm² plate of POSCO GIGA STEEL, approximately the size of a palm, can withstand the load of 1,500 medium cars. POSCO GIGA STEEL falls into one of the strongest categories of steel available to automakers today. In addition, it is more than three times stronger than aluminum and comes with excellent formability, making it possible to manufacture vehicles...

POSCO’s Quarterly Operating Profit Amounts to More than KRW 1 Trillion

POSCO’s Quarterly Operating Profit More than KRW 1 Trillion

On April 18, POSCO announced that it posted consolidated sales of KRW 15.07 trillion, an operating profit of KRW 1.365 trillion, and a net profit KRW 976.9 billion in the first quarter of this year. Consolidated sales slightly increased from the previous quarter while the operating profit ratio increased from 3.1% to 9.1%. Thanks to the increased profits of the steel division, as well as the improved performance of its non-steel divisions, such as trading and engineering & construction (E&C), POSCO’s operating profit increased by 189.4% from the previous quarter. The aggregate operating profit of the steel division increased by 60.8% to KRW 1.0234 trillion while the aggregate operating profit of the trading division increased by 60% to KRW 126.7...

POSCO to Build Smart Factory for High-quality Anode Production

POSCO to Build Smart Factory for High-quality Anode Production

During a visit to POSCO Chemtech, POSCO CEO Ohjoon Kwon announces plans to build an automated system that would be capable of producing 30,000 tons of anode materials by 2020. For more than 50 years, POSCO Chemtech has accumulated technical expertise in the basic industrial materials sector by primarily producing refractories and quicklime. They have also gained entry into the coal chemical industry – the production base for coal tar and crude light oil. With this foundation, POSCO Chemtech has forayed into the natural graphite anode material business and successfully mass-produced anode materials for high-capacity batteries in electric vehicles. “The demand for mid to large-sized secondary cell batteries for electric vehicles and energy storage systems (ESSs) is rapidly growing,” CEO...

POSCO Develops New High Manganese Steel Production Technology

POSCO Cuts Production Time in Half for Manganese Steel

POSCO announced the development of a new technology for high manganese steel that cuts production time in half and boosts efficiency by 10%. This new production process technology is based on a molten ferromanganese (FeMn) alloy. POSCO began research & development for this technology in 2013 and invested a total of KRW 55 billion. After POSCO Technical Research Laboratories completed the initial testing, the equipment was transferred over to the Plate Rolling Department at Gwangyang Works for production. Normally, high manganese is produced by melting solid manganese iron. When the solid manganese alloy iron is injected into a converter (a large container for storing molten iron), the temperature of the molten iron is lowered and then increased again. This leads...

POSCO CEO Seeks to Double Operating Profit in 3 Years

POSCO CEO Seeks to Double Operating Profit in 3 Years

At the CEO Forum held in Seoul on March 30, POSCO CEO Ohjoon Kwon announced a new strategy to increase POSCO’s operating profit from KRW 2.8 trillion to KRW 5 trillion. The new strategy is also expected to boost sales of future businesses to KRW 11.2 trillion by 2025. The key components of POSCO’s new strategy include strengthening POSCO’s World Premium Products, improving the profitability of its non-steel businesses, investing in future growth engines, and introducing smart technologies to its group businesses. POSCO plans to differentiate itself from competitors by continuing to invest in their advanced World Premium Products. The strategy to expand sales of World Premium Product was implemented at the beginning of Kwon’s first term as CEO and...

Russia's ZPP Uses POSCO's Solution Marketing to Acquire Quality Certification

Russia’s ZPP Uses POSCO’s Solution Marketing to Acquire Quality Certification

On March 23, Zagorsky Pipe Plant (ZPP) was able to successfully acquire the needed quality certifications from Russia’s state-owned Gazprom by using POSCO’s Solution Marketing. Gazprom, a state-run gas corporation, and the world’s largest gas producer, owns 17% of the world’s natural gas reserves. It operates 17,100km of line pipes, requiring 1.5 million tons of API plates per year. POSCO played a significant role in helping ZPP acquire the quality certification by supplying them with the API-X70 steel plate that is commonly used in API pipes. This certification shows that the products, management systems, and services are in line with the quality standards defined by the GAZPROMCERT system. By working with ZPP’s quality design group, steelworks, and research institute, POSCO...

POSCO Fosters Its Future Experts with First Global Mobility Program of 2017

POSCO Fosters Future Experts with 2017 Global Mobility Program

The Global Mobility Program (GMP) is an HR development training program that enables overseas POSCO employees to visit Korea and participate in an extensive training that teaches them about POSCO’s working culture and allows them to gain work experience at POSCO’s headquarters in Korea. Through this program, POSCO seeks to make use of the expertise and technologies specific to each affiliate and for participants to return and share their newly acquired skills with other employees. With GMP, overseas employees also have a chance to develop a network of connections worldwide. This year, the training took place from March 6 to 17 with nine employees from the following affiliates: POSCO-CSPC (China) Qingdao Pohang Stainless Steel Co., Ltd. (China) Zhangjiagang Pohang Stainless...

POSCO Honors Industry Innovators for Outstanding Achievements

POSCO Honors Industry Innovators for Outstanding Achievements

The POSCO TJ Park Foundation held its 2017 award ceremony at the POSCO Center on March 29 to recognize excellence in science, education, community development, and technology. The POSCO TJ Park Prize was established in 2006 in honor of the late chairman and founder of POSCO, Tae-joon Park. Park laid the groundwork for the industrialization and modernization of Korea and contributed to the economic & industrial development of Korea by encouraging the general public to adopt POSCO’s founding principles of creativity, talent development, sacrifice and volunteerism. The foundation celebrates its 11th anniversary this year. More than 290 people attended the presentation ceremony, including Ohjoon Kwon, chairman of the POSCO TJ Park Foundation; Chang-hee Kang, former chairman of the National Assembly;...

POSCO, ExxonMobil to Mass-produce High Manganese Steel

POSCO and ExxonMobil Collaborate on Slurry Pipes, Now 5x More Durable

On March 22, POSCO and ExxonMobil reached an agreement to mass-produce high manganese steel and apply it to slurry pipes – the first time that manganese steel has been used in this capacity. Manganese steel is high in strength and formability, making it an ideal material to protect against the wear that frequently occurs when slurry, a mixture of oil, water, and sand, travels through pipes. ExxonMobil, the world’s largest oil company, upholds strict standards when choosing materials, and for the last five years has been working with POSCO to manufacture and test slurry pipes at worksites. Last year, a 1.2 m long slurry pipe – made with POSCO’s high manganese steel – was installed at ExxonMobil’s Kearl Oil Sands...

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