POSCO Once Again the World’s Most Competitive Steelmaker

POSCO has been ranked as the ‘World’s Most Competitive Steelmaker’ by WSD (World Steel Dynamics) for four consecutive years since 2010. WSD hosted the “28th Steel Success Strategy” conference, the world’s largest steel conference, at the New York Sheraton Times Square Hotel in the U.S. on June 18th and 19th, announcing the ‘World’s Most Competitive Steelmakers’ ranking.

Following last February‘s evaluation, POSCO again received high scores spread throughout the categories for a final score of 7.73 (out of 10) ranking first among the companies evaluated. POSCO marked a large lead in employee skill levels, innovative technology led by FINEX and energy steel material production technology, expansion of high value added products, and new market expansions.

CEO Chung Joonyang who was invited as a highlight speaker after the announcement of the rankings introduced `POSCO`s Growth Story and Future Strategy` in English for 30 minutes, gathering great interest from the 1,000 or so world steelmaker management and scholars.

CEO Chung introduced that he has strived for continuous growth through leading innovative activities and firmly establishing a global management system for the past 4 years, and added global competitiveness with unique innovative technology and high value added product development which have allowed maintenance of the world`s highest competitiveness.

As mentioned in the conference theme, `Steel on the Precipice,` the world`s steel industry has a pressing need for a way to overcome the current recession. Conference delegates accordingly were focused on whether `POSCO`s Growth Story and Future Vision` will be able to suggest a new direction for the world`s steel industry.

CEO Chung especially received heated responses from the delegates when noting that becoming a `loved company` which involves establishing a healthy corporate ecosystem with POSCO`s unique concept of the stakeholders, SPICEE (Society/Partner/Investor/Customer/Employee/Environment), and grow and succeed together is POSCO`s future.

WSD has been analyzing the global steel market to find solutions to issues the industry faces each year since 2002, and announces competitive steelmaker rankings based on evaluation in 23 categories including production scale, profitability, technology innovation, price determinativeness, cost reduction, financial stability, and securing of materials. Competitiveness of the world`s steelmakers was evaluated in February and June this year selecting 34 companies each.

NLMK of Russia and JSW of India who ranked 2nd and 4th last February were pushed aside by Severstal (2nd, Russia) which owns iron ore mines and Nucor Steel which utilizes low cost shale gas (3rd, U.S.) marking the importance of cost competitiveness in the unclear global steel market environment.

Previous 1st ranking ArcelorMittal and 2nd ranking Nippon Steel & Sumimoto Metal in steel production capacity each ranked 26th and 7th, and steel production capacity 3rd Hebei Steel and 4th Bao Shan Steel were not ranked.

[mappress]

Press Release, June 25, 2013