POSCO received ‘World’s Most Competitive Steelmaker’ award from a globally renowned steel information service provider World Steel Dynamics (WSD). Since 2010, POSCO has received the award for 4 consecutive years, concreting its position as the global leader of the steel industry.
What is ‘World’s Most Competitive Steelmaker’ Award?
From 2002, WSD has been analyzing global steel markets and rating the world’s leading steel manufacturers on 23 categories: production volume, profitability, technology renovation, pricing power, cost reduction, financial solidity and securing raw materials.
POSCO Receives High Points with Labor Mastery and Technology Renovation
The Steel Success Strategies XXVIII, one of the biggest steel industry conferences in the world, was held by WSD at Sheraton New York Times Square Hotel between June 18th and 19th. As a part of the conference, WSD announces which company is leading the industry by excelling all of its competitors in terms of various business aspects.
For this time, POSCO received evenly high marks in all areas, recording 7.73 out of 10 points. POSCO was highly evaluated for its labor mastery, ‘FINEX’ and energy plate manufacturing technologies. Expansion of high value added products and exploration of newly emerging markets also received positive assessment.
CEO Chung Joon-yang Delivers Special Speech
Chung Joon-yang, POSCO’s chief executive officer and chairman, was also invited as ‘Highlight Speaker’ on the second day of the conference. CEO Chung introduced POSCO’s growth dynamics and its history of continuous developments and innovations.
The Chairman talked about how POSCO has been driving a consistent growth over the past four years via leading innovative business activities and concreting the global management system. He also talked about POSCO’s efforts to amplify the company’s global competitiveness by creating high value added products. Chairman Chung stressed that it is vital for POSCO’s ‘World Best’ spirit to overcome the sluggish global economy.
Growing Together with ‘SPICEE’
Chairman Chung also explained the importance of building a sound corporate eco-system by adopting a better sense of partnership with their employees, stakeholders and the surrounding environment. He emphasized POSCO’s unique concept of ‘SPICEE,’ an acronym for ‘Society,’ ‘Partner,’ ‘Investor,’ ‘Customer,’ ‘Employee’ and ‘Environment,’ to highlight the significance of mutual cooperation and development. POSCO believes a positive synergy between these factors will enhance POSCO to become a firm of endearment. He said, “We must strive to transform the organization from a great company to the Firm of Endearment by working closely with every SPICEE element.”
‘Hello, POSCO’ would like to thank all of you for the award we received from WSD. POSCO will continue sailing towards our goal to become a more loved and respected steelmaker by everyone. So, stay tuned with us at ‘Hello, POSCO’ and we will keep posting great stories of the journey.