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POSCO’s another innovation, ‘Steel Gallery’

In celebration of the 50th anniversary, POSCO has renovated the exhibition hall with the style of smartization named as ‘Steel Gallery’. Future of steel is still bright The main theme of the new Steel Gallery is ‘Harmony’ which represents that steel will be together with humanity for the next generation. The gallery is mainly composed with future advanced technology that gives incredible experiences of high class technology in POSCO’s world premium products. One of the technologies we can proudly recommend to feel in our gallery is electric vehicle section. POSCO recognized that future vehicle trend will be dramatically changed with renewable energy such as electrically fueled vehicles. In the Gallery, POSCO introduced its own technology that plays a crucial part...

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POSCO’s Future Ambitions: For 500 billion dollars sales

Steel is still considered as crucial materials in even for the future. It is estimated that steel consumption will be increasing due to rapid growth of Asian economy. The World Steel Association also announced positive prediction in global steel consumption in 2018. 2018 is also special year for POSCO, world leading steel company since its 50th anniversary. At the celebration, CEO Ohjoon, Kwon demonstrated the missions and visions for preparing future and looked back the past history of POSCO and impact on Korean society.  Dream comes true in 2068 achieving 500 billion sales? POSCO has celebrated 50th year anniversary ‘Future vision declaration’ on April, 1st and announced future missions and visions as Top 5 world leading global steel company. For...

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POSRI Report: Will Volatile Steel Prices Continue into the Future?

POSCO Research Institute recently published a report (in Korean) detailing the turbulent year of steel prices between 2016 and 2017, and detailed several factors that led to the rise and fall of coking coal and iron ore prices, the two main raw materials used for steel production. They observed that the price of coking coal went from USD 75 per ton in February 2016 to USD 200 in December 2017, but it wasn’t a linear rise. In April 2016, the Chinese government implemented policies limiting the mining and production of coking coal, sending prices up to USD 300 per ton in just 2 months. Prices did eventually stabilize, but a series of natural disasters compromised supplies and logistics from major...

Capacity Crunch Why Airports Are Going High Tech

Capacity Crunch: Why Airports Are Going High Tech

Airspace is getting tighter as more people and goods take to the skies to reach their destinations. Global passenger traffic, expressed in Revenue Passenger Kilometers (RPK), is projected to increase 4.6 percent annually by 2032, reaching 12.4 trillion. This is the result of improvements in standards of living, lower oil prices and cheaper tickets. To meet the growing demand, airports all over the world are increasing their capacity. The Asia Pacific region’s Available Seat Kilometers (ASK) has increased 7.9 percent YoY, as China leads the way with numerous airport construction projects. Current and anticipated expenditure on airport infrastructure is USD 391 billion for the entire region.  European airports experienced a 30 percent increase in passenger volume from 2012 to 2017....

Powering a Green Future with Lithium Batteries

Powering a Green Future with Lithium Batteries

According to Research and Markets, the market for lithium batteries is projected to reach USD 40 billion by 2024. Recently, lithium-ion batteries have been gaining much attention due to developments in electric vehicles (EVs), but they have been widely used for various electronic devices for more than 20 years. Today, researchers are working to make the high-performance batteries even smaller, lighter and cost-effective, to keep up with the growing demand from numerous industries all over the world. As a result, new innovations in battery technology are beginning to open up new possibilities for not just the automotive industry, but for consumer electronics, wearables, drones and much more. Such industries are positioned for growth in the Fourth Industrial Revolution, and supplying...

Interview: Woman on Top in the Steel Industry

Interview: Woman on Top in the Steel Industry

Happy International Women’s Day (IWD)! Since the early 1900s, the world has celebrated women’s achievements and advocated for further rights on the 8th of March every year. This year’s IWD falls in the midst of controversy, achievements and empowerment for women all over the world. Just to name a few, Lebanon, Jordan and Tunisia repealed a law that exonerates rapists and allows them to avoid punishment if they marry their rape victims. In Saudi Arabia, women finally gained the right to hold driver’s licenses. In the U.S. and around the world, more than 5 million people took part in the Women’s March in January 2017, to advocate fairness and equality. Then, Iceland set an example for all when it became...

What Vietnam’s Booming Economy Means for Steelmakers

What Vietnam’s Booming Economy Means for Steelmakers

Vietnam is the fastest growing economy in Southeast Asia: last year, the country recorded its highest economic growth at 6.81 percent, and the World Bank predicts a repeat in 2018. As one of the world’s fastest developing countries, exports are expanding, foreign direct investment (FDI) is pouring in and new infrastructure is built every day. Urbanization is also speeding up growth. By 2030, more than 10 million people will reside in Ho Chi Minh City. Not only demographically, Vietnamese urban areas are getting bigger physically, with a spatial expansion rate of 2.8 percent per year, which is faster than any other urban area in the Southeast Asian region. The growth is stimulating demand for new homes, roads, infrastructure as well...

Parallel Shining a Spotlight on the Korean National Para Ice Hockey Team

Parallel: Shining a Spotlight on the Korean National Para Ice Hockey Team

Last month, a new documentary following the lives of Korea’s National Para Ice Hockey Team called Parallel was released, bringing to light a sport that is mostly unrecognized in the country. POSCO, as an official sponsor of the team and the movie, hopes to change that and put a spotlight on the sport as well as the athletes. POSCO started supporting the team last year after CEO Ohjoon Kwon watched the team take the bronze medal at the 2017 World Championships. As shown in the documentary, the athletes were playing on insufficient sledges that would often break down and cause injuries. Some players were fixing their own sledges between matches, others made do with what they had. CEO Kwon knew...

From Engines to Electric Motors What’s Ahead for the Automotive Industry

From Engines to Electric Motors: What’s Ahead for the Automotive Industry?

The world is changing fast. Technological innovations from 20 or even just 10 years ago are obsolete today, and the lifespans of new technology get shorter and shorter. There is a growing pressure to innovate, not only within the IT industry, but all across the board, including the auto industry. For the past 120 years, vehicles have evolved steadily, and now they face one of the most disruptive changes yet – the shift from internal combustion engines (ICE) to electric motors. SEE ALSO: Ask an Expert: Electric Vehicles and the Future of the Automotive Market Why don’t more people drive EVs? Electric vehicles (EVs) have a variety of benefits for drivers, the most obvious being cheaper electricity prices compared to...

Painting City Skies with Steel Skyscrapers

Painting City Skies with Steel Skyscrapers

Last year, 144 skyscrapers over 200 meters were built all over the world, setting a new record for the greatest number of skyscrapers built in a single year. The 144 skyscrapers can be found in 69 different cities across 23 countries, but more than half of them were built in China. The tall buildings come in a variety of shapes and sizes, but they have one thing in common: steel is the material serving as the backbone of the grand structures. This year, more skyscrapers will fill the skylines of cities, mostly in Asia. Continuing on from previous years, cities, architects and the general public alike are favoring low-energy, sustainable buildings and showing a tendency to renovate existing buildings with...

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