POSCO Finds Pioneering Solutions Amid Barriers

POSCO Finds Pioneering Solutions Amid Barriers

The overcapacity in the Chinese steel market, the decrease in working-age populations, and the general decline in steel demand have created challenges in the Northeast Asian steel industry.   POSCO has been ranked as the world’s most competitive steelmaker for seven years in a row. It has remained competitive in part by focusing on its World Premium Products, which offer advanced steel solutions for their customers. POSCO has also put extensive effort into maximizing its non-steel technologies and products to find new growth in non-steel sectors. In addition, POSCO has been a leader in innovating its own manufacturing processes, incorporating advanced AI and IoT technologies into its smart factories. POSCO has also remained committed to not only growing its non-steel...

The Solar Pine uses energy from its solar panels to light up at night

Explore 3 Artistic Uses of POSCO’s World Premium Products

It is easy to imagine steel being used in buildings, cars, trains, and ships – now imagine it being used in art. For some artists, steel can be heavy and difficult to work with. In addition, considerations for ductility, corrosion resistance, and price must also be taken into account. Working to address these issues, POSCO has partnered with many artists, architects, and designers to provide the right steel to match their artistic vision. In the three pieces below, POSCO’s World Premium Products were used to offer unique solutions for each design concept. See how these three pieces of art utilized steel to not only make them stronger and longer-lasting, but also to make them more beautiful.   POSCO’s Solar Pine...

POSCO’s Innovation Shapes the Ever-Growing Lithium Market

POSCO’s Innovation Shapes the Ever-Growing Lithium Market

While known for its industry-leading advanced steel products, POSCO has also been working to strengthen its non-steel business portfolio. Amid the rising demand for rechargeable lithium-ion batteries used in smartphones, laptops, and electric vehicles, POSCO has been working on proprietary technology for lithium extraction. Earlier this month POSCO opened its first lithium extraction plant, PosLX, in Korea that is expected to produce 2,500 tons of lithium carbonate per year – enough to produce about 70 million laptop batteries. While most lithium carbonate is extracted from salt deposits, POSCO was the first to develop a way to extract it from wasted batteries.   Lithium Demand to Continue Rising Demand for lithium-ion batteries is expected to rise exponentially in the coming years....

‘Ash-6’ Work of POSCO’s 2017 ‘The Great Artist’ Competition Winner (2010)

POSCO Creates Pathways for Emerging Artists

This month on The Steel Wire, we are exploring themes of creativity in the world around us. We have looked at the impact of steel in award-winning movies like La La Land, as a part of the music industry’s biggest night, and in famous pieces of architecture around the world. Today, we turn our spotlight on the artists who have pushed the boundaries of art and inspiration. The POSCO Art Museum was founded in 1998 to foster creative growth by supporting new and established artists. POSCO began organizing the ‘The Great Artist’ competition in 2014 and since then has supported 53 emerging artists, helping them show their work to new audiences, both near and wide.   Paving Pathways for Emerging...

Inspection of facilities for the My M&S initiative

Innovation in Production Systems with POSCO’s QSS+

Innovation is critical in today’s business market. New technology, new products, and new systems must constantly be developed, improved, and maintained in order to remain competitive. At POSCO, to ensure that its facilities, systems, and production lines were running smoothly, and at full capacity, they developed Quick Six Sigma Plus (QSS+). QSS+ worked to streamline its factories helping it to provide some of the most advanced steel products in the industry.   What is QSS+? QSS is a tailored and upgraded version of Six Sigma, a popular technique used in many businesses to reduce defects and variabilities in manufacturing and business processes. Moving beyond creating a clean workplace and restoring facility performance, POSCO further upgraded QSS to QSS+ in August...

POSCO Experts Discuss Advancements in Auto Industry

POSCO’s Beginnings in Automotive Steel: An Interview with 3 Experts

With the North American International Auto Show in full swing, the auto industry is turning its attention toward the smart car technologies and the innovative steel technologies that are required to make cars lighter and smarter. At POSCO, there are many talented researchers, engineers, and factory workers, who are working constantly to make steel stronger, lighter, and longer-lasting. The Steel Wire sits down with three of those POSCO employees who have played essential roles in helping to establish POSCO as an industry leader in automotive steel solutions.   Q1. POSCO has relied on its experts to become an industry leader in advanced automotive steel manufacturing, and you have all played important roles within POSCO’s development of automotive steel. Can you...

new york skyscrapers

The 8 Biggest Stories of 2016

2016 was another big year for POSCO. Despite facing difficult market conditions, POSCO reaffirmed its position as a leader in the steel industry as it was named the Most Competitive Steelmaker in the world for the 7th year in a row. In addition, POSCO continued its push to drive innovation while also improving the quality of its advanced World Premium Products for its customers all over the world. Take a look back at the 8 biggest stories from The Steel Wire in 2016.   1. World’s Most Competitive Steelmaker for the 7th Consecutive Year POSCO was once again named the world’s most competitive steelmaker for the 7th consecutive year by World Steel Dynamics (WSD). In addition, POSCO became the only...

POSCO looks ahead to 2017

POSCO Looks Ahead to 2017

In 2016, excess global supply, rising prices of raw materials, and weak global investment all created significant barriers for steel makers. While managing these industry wide market hurdles, some POSCO domestic affiliates saw sharp declines in profitability. However, due to the successful management of POSCO’s overseas subsidiaries, the combined performance of the group improved significantly. By focusing on sales of high value-added products based on solution marketing, engaging in extensive cost-saving efforts, and generating revenues via the “Innovation POSCO Project”, POSCO was able to deliver a two-digit profit margin and a more than 50-percent jump in stock value. By continuing this work in 2017, POSCO is determined to maintain its position as a leader in the global steel industry. POSCO’s...

POSCO’s PossSD Brings Innovative New Possibilities to the World of Stainless Steel

POSCO’s PossSD Brings Innovative New Possibilities to the World of Stainless Steel

At POSCO, we never stop innovating, looking for new methods and new materials that can improve people’s lives. By developing new types of steel, POSCO is creating new possibilities and expanding efficiencies for all types of construction and creation. One of our most exciting new products is PossSD – which stands for Super Ductile Duplex, a kind of duplex stainless steel. Duplex steel combines two types of stainless steel – austenitic and ferritic – to maximize the strengths and minimize the weakness of each. The idea has been around since the 1920s, but only recently has technology and knowhow reached the point to make this a practical commercial product. And now, POSCO’s PossSD is one of the most exciting types...

POSCO’s UL700 Steel Pipe Is a Big Boost for Scaffolding

POSCO’s UL700 Steel Pipe Is a Big Boost for Scaffolding

Constructing buildings requires more than just the wood, concrete and steel that form the structure. An essential part of large construction projects is the scaffolding – the temporary frame used to support workers and materials as they build. There’s evidence of scaffolding being used in construction going back to 17,000 years ago, with the cave paintings in Lascaux, France. The ancient Greeks, Egyptians, Chinese and Nubians all used scaffolding, too, to create their largest buildings and monuments. Early scaffolding usually consisted of wood and rope – even today in parts of the world, bamboo is still used, even for high rises. But a much more common material for making stronger and safer scaffolding is steel.   Steel Transforms an Old...

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