POSCO’s Takeaways from CES 2018: Steel Yourself for a Smarter Future

POSCO’s Takeaways from CES 2018: Steel Yourself for a Smarter Future

Under POSCO’s vision for smartization, the company has been working to apply new technologies such as AI, Big Data and IoT to the manufacturing process. In order to stay competitive in the fourth industrial revolution, POSCO CEO Ohjoon Kwon has been exploring new ways to improve POSCO’s technology and continue to lead the smart revolution in the global steel industry. As such, CEO Kwon made his first official visit to the 2018 Consumer Electronics Show (CES) in Las Vegas earlier this month to stay on top of the latest trends in connectivity and smart solutions that can be applied to the manufacturing process in smart factories. SEE ALSO: POSCO CEO Ohjoon Kwon Visits CES 2018 Ultimately, a smart factory for...

Sustainability Matters Staying Competitive in Today’s

Sustainability Matters: Staying Competitive in Today’s Global Economy

An age-old debate exists for and against environmental regulations. Many proponents argue that the environment must be protected at all costs because it is a finite resource. Opponents argue that stringent regulations will only decrease the competitiveness of firms, especially in the wake of globalization. The U-Shaped Relationship However, the argument is not so black and white according to Spyridon Stavropoulos, Ronald Wall and Yuanze Xu’s Environmental regulations and industrial competitiveness: evidence from China. The study suggests that the relationship between stringent economic regulations and industrial (or economic) competitiveness is U-shaped. Meaning, initially, stringent regulations will increase the cost of production and make companies less profitable, but after a certain turning point, companies will be forced to adapt and innovate,...

Building on a Year of Success POSCO’s Top 9 News of 2017

Building on a Year of Success: POSCO’s Top 9 News of 2017

Happy new year from the Steel Wire! It’s a new year and new chance to accomplish those new year’s resolutions, but success is often built on past achievements. POSCO plans to build on all of its achievements in the past year to continue growing in 2018. Check out some of the most successful moments of 2017. 1. #Winning – competitiveness and sustainability POSCO was recently named the world’s most competitive steelmaker for the eighth consecutive year by World Steel Dynamics (WSD). POSCO again took home the gold with the highest scores in five categories including innovative technology, cost reduction, skill level of labor, restructuring and investment environment. Not only did POSCO come out on top for competitiveness, the company was...

The Steel Wire's Top 7 Stories of 2017

The Steel Wire’s Top 7 Stories of 2017

Take a look at the crème de la crème of the Steel Wire’s stories in 2017 – it’s not difficult to see why they topped the list. #1 How Smart Factories are Changing the Manufacturing Industry The Fourth Industrial Revolution is bringing AI, IoT and other automated technologies into people’s lives and changing the way they live and interact with one another. It is also bringing about change in the manufacturing industry as more companies embrace smart factories to further enhance efficiency, performance and safety. Take a deeper look at how smart factories are reinventing the manufacturing industry. SEE ALSO: How Factories Produce Steel- the Smart Way #2 POSCO GIGA STEEL Increases Strength, Improves Safety in Autos This year, POSCO...

Materials Matter: Why Steel Beats Aluminum in the Sustainability Debate

Meet the Experts: The Steel Wire’s Contributors of 2017

Throughout the past year, the Steel Wire collaborated with experts in various industries to create insightful and exclusive stories that expanded our understanding of steel and its applications. Take a look back at 2017 to reflect on our star contributors who helped lend their expert insights to the Steel Wire. Marco Rosignoli – Bridge Building Expert Marco Rosignoli is an expert in bridge design, construction, forensic engineering, consulting and education, with over 37 years of experience in 21 countries. Through a two-part series, Rosignoli gave readers an in-depth look into emerging megacities and their infrastructure needs. According to Rosignoli, efficient transportation is the key to an economically competitive city, and megacities will call for mega-sized bridges made of high-quality steel....

Materials Matter Why Steel Beats Aluminum in the Sustainability Debate

Materials Matter: Why Steel Beats Aluminum in the Sustainability Debate

There is a general consensus within the automotive industry that favors electric vehicles (EVs) as the most feasible solution to decreasing greenhouse gas (GHG) emissions. For the integration of EVs into the existing fleet of cars to happen fast and in significant numbers, automakers have to optimize the range of their EVs. With the current technological limitations in electric motors and batteries, carmakers are collectively seeking lighter materials for maximum range. While all this sounds promising for the environment, EVs don’t automatically translate into lower GHG emissions. According to World Auto Steel (WAS), the emissions from vehicle production will be greater than the amount of emissions from driving. As such, it is becoming increasingly important for manufacturers, policymakers and consumers...

Why More Drones Will Fly the Skies of Workplaces

Why More Drones Will Fly the Skies of Workplaces

The drone industry met its turning point In 2015, when the U.S. Federal Aviation Administration (FAA) granted special exemptions to numerous companies to operate drones. Then in 2016, the FAA officially laid out more lax regulations regarding drone usage that led to a spike in drone purchase and registration. There are several different definitions for drones, so the numbers may vary, but Business Insider Intelligence projects drone sales of more than USD 12 billion in 2021 for military, personal and commercial use. Commercial applications for drones are especially on the rise with an expected compound annual growth rate (CAGR) of 19 percent from 2015 to 2020, and The Association for Unmanned Vehicle Systems International estimates commercial drones will be worth...

Building a Green Energy Future with Steel

Building a Green Energy Future with Steel

Despite the controversy about climate change, global warming is happening. According to the World Steel Association, the world must decrease its CO2 emissions by at least 12 gigatonnes by 2030 to contain rising temperatures below 2 degrees centigrade.   In order to meet this mark, industries need to find sustainable sources of fuel in the near future, or be met with costly penalties. Up to now, the price of non-renewable fuel was too attractive for clean energy to be competitive. However, tighter regulations, major leaps in technology and state-level commitment have birthed a new era of renewable energy. Energy you can bank on According to Bloomberg analysts, USD 10.2 trillion will be spent on new power generation by 2040, 72...

Manufacturing in the 4th Industrial Revolution

Ask an Expert: Manufacturing in the 4th Industrial Revolution

The 4th Industrial Revolution is transforming the manufacturing industry. Artificial intelligence (AI) and robotics are being applied to production and distribution, and technologies are being merged to form new innovations. In the realm of manufacturing, artificial intelligence will take on various roles where human judgment and control are required. The existing boundaries between industries and businesses will collapse and some businesses and industries will disappear altogether. Companies that fail to accept these changes and adapt accordingly will lose their competitiveness. What’s more, manufacturing is no longer a rigid industry that produces uniform, one-sided goods. There is constant communication between customers and businesses for hyper-customization. Not only that, machines and products communicate within a smart factory, and factories exchange data with...

What the Demographic Cliff Can Mean for the Steel Industry

What the Demographic Cliff Will Mean for the Steel Industry

Populations in many parts of the world are aging rapidly, with Japan and Italy having the largest aging populations. According to the U.S. National Institute of Health’s study, An Aging World: 2015, 1.6 billion people, or 17 percent of the world’s population is expected to be 65 years or older by 2050. The Demographic Cliff Economic forecaster and author of “The Demographic Cliff,” Harry Dent, says people between the ages of 45 and 49 are typically the heads of families and spend the most money on things like housing, cars and appliances. As populations age, fewer people will make up the prime spending age group of 45 to 49, and there will be a drop in consumption. Dent calls this...

READ MORE