The 2016 POSCO Report Highlights A Year of Sustainable Business

The 2016 POSCO Report Highlights A Year of Sustainable Business

POSCO published the 2016 POSCO Report outlining its sustainability management performance for their stakeholders. This is the company’s 14th sustainability report and consists of integrated coverage of POSCO’s business, sustainability and carbon emissions. The report outlines POSCO’s overall performance and business activities, as well as the CEO’s message. The activities and performance section contains a review of the safety and health of employees, supply chain management, solution marketing, environmental management and climate change. Unlike previous years, this year’s report includes mid-to-long-term strategies such as securing new, sustainable growth engines for the steel business. The report also features interviews with POSCO executives and external stakeholders. Highlights include interviews with the COO Oh In-hwan and the heads of three divisions: Steel Production,...

Ladle charging: moving hot metal to a basic oxygen furnace to make steel

POSCO Gets “Smart” with Pohang Blast Furnace No.3

After months of renovations, POSCO held a blow-in ceremony on June 6 for Pohang Blast Furnace No. 3, the world’s fifth largest blast furnace. Pohang Blast Furnace No. 3 was first fired up in 1978 with an internal volume of 3795㎥ and was renovated three times. It produced a total of 119 million tons of molten steel, laying down the foundation for the development of POSCO and related industries. Renovations for the blast furnace began on February 24 when POSCO added automated monitoring technology to control the internal state of the blast furnace, a measure expected to help forecast and extend its lifespan. This led POSCO to develop an infrastructure that utilizes artificial intelligence and collect big data from early...

POSCO Hosts “2017 Global Volunteer Week” in 52 Countries

POSCO Hosts “2017 Global Volunteer Week” in 52 Countries

POSCO will hold its “2017 POSCO Global Volunteer Week” from May 24-30, where more than 79,000 volunteers from POSCO Group in 52 countries gather together to foster their local communities. Since 2010, POSCO has been hosting this company-wide initiative every year around May 29, the company’s foundation day. Volunteer activities include helping to improve housing conditions for underprivileged neighborhoods, baking, painting murals, and mentoring the local youth. On May 30, POSCO CEO Ohjoon Kwon and over 30 employees will visit Myeongryundang of Sungkyunkwan Munmyo (a Confucian shrine) and help repair and replace the Changhoji (traditional Korean paper made from mulberry bark for doors and windows). Volunteer activities will also take place in the various countries where POSCO Group branches are...

POSCO’s Cryogenic High Manganese Steel Becomes a Global Standard Technology

POSCO’s Cryogenic High Manganese Steel Becomes a Global Standard Technology

POSCO’s cryogenic high manganese steel was recently registered as a standard technology with the American Society for Testing and Materials (ASTM), an organization that tests and researches all materials, including metals and non-metals, and develops and publishes technical standards. So far, more than 30,000 experts from 140 countries have registered more than 12,000 technical standards. The technologies registered with ASTM are used as standards or specifications for engineers not only in the U.S., but globally. Its registration with ASTM means that POSCO’s cryogenic high manganese steel is recognized as a material that can be safely used all around the world. The cryogenic high manganese steel is a high value-added material that POSCO proprietarily developed after more than a decade of...

POSCO Completes Construction of New Steel Forming Laboratory

POSCO Completes Construction of New Steel Forming Laboratory

On May 11, POSCO held an opening ceremony to celebrate the completion of its Steel Forming Laboratory at the POSCO Global R&D Center in Songdo, Korea. More than 80 people joined the event, including the employees of customers like GM Korea, Renault-Samsung Motors and Ssangyong Motor Company, and officials of the construction company. In-hwan Oh, President of POSCO, said, “We implemented a customer-oriented core research infrastructure to help us evaluate products in a production environment similar to that of customers. By doing this, we aim to develop leading technologies and provide preemptive and proactive solutions to customers.” The Steel Forming Laboratory will be used exclusively to evaluate the products ordered by POSCO customers by looking at properties such as formability,...

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...

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