The Korea-China Steel Industry’s Collaborative Development Plan Discussed

POSCO INSIDE

It is no doubt that China’s position in the world market is expanding at a rapid pace. Keeping up with the latest movement, POSCO is currently engaging in numerous business projects in China. In fact, CEO Kwon Ohjoon visited China last month, the first time after inauguration, to discuss a wide spectrum of opinions on plans for greater cooperation and development within the Korea-China steel industry.

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Discussions with China Iron and Steel Association(CISA) and The Chinese Society For Metals
On September 22nd, CEO Kwon visited the China Iron and Steel Association (CISA) and The Chinese Society for Metals to discuss collaborative development plans between Korea and China`s steel industries and seek ways to develop the future of the Northeast Asia steel industry. At the China Iron and Steel Association, CEO Kwon discussed cooperation plans and exchanged opinions on the recent trends in China`s steel industry. CEO Kwon said at the meeting that he would continue to push ahead with cooperation based on an ‘open innovation’ that promotes sharing and synthesizing. CEO Kwon then met with personnel at The Chinese Society for Metals, where he exchanged opinions on the current challenges facing the China`s steel industry and the R&D trends in steel manufacturing technology. Technology for pollutant emission reduction, such as carbon emission reduction, was discussed in-depth as potential directions for development.

Meeting with POSCO Local Subsidiaries
CEO Kwon hosted a meeting with the presidents of POSCO relate companies, listened to the status of current projects being carried out at local subsidiaries and discussed plans to expand in the Chinese market. CEO Kwon emphasized at the meeting that, ”We must recognize that China will forever be a co-existing competitor and collaborator and carefully consider future business development.” He also reminded the audience that, “Dispatched POSCO employees must always set an example so that locally hired employees can hold the pride and hope that comes with being a POSCO employee.“

Visit to POSCO China Office and The Beijing POSCO Center Construction Site
Afterwards, CEO Kwon visited the POSCO China office to review mid-term management plans. CEO Kwon encouraged employees by saying, “Drive with challenge and purpose to achieve the goal of expanding product sales linking POSCO`s world premium products and solution marketing. POSCO China is the base-level subsidiary of China and must therefore provide high level support in finance, HR, and education for subsidiaries investing in China so that the production subsidiaries and processing centers can focus on their core businesses”.

Before heading back to Seoul, CEO Kwon also visited the Beijing POSCO Center construction site, which is scheduled to be completed this coming December. After examining construction progress, he asked that the construction be safely completed before the scheduled completion date. The POSCO Center, which consists of 2 buildings, with 25 floors and 33 floors, is located in the Wangjing Subdistrict where many Korean people reside and is expected to provide a better business environment for POSCO and group companies in China.

Through CEO Kwon’s visit to China, POSCO expects to contribute to achieving the ‘POSCO the Great’ vision by strengthening its core competitiveness. Also, as more exchanges and communications proceed, we are certain that the Korea-China collaborative development in the steel industry will further enhance and provide positive influences on other industries as well!

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