l Standing for innovation, value, and built, ‘INNOVILT’ is intended to boost the value of steel products for construction
l INNOVILT to supply high quality, sustainable high-value steel products and lead the future of the construction market
l Product development and co-marketing through INNOVILT Alliance
POSCO (CEO Jeong-Woo Choi) launched ‘INNOVILT’, a premium brand of steel products for construction.
On November 12, POSCO held the launch event of ‘INNOVILT’ with around 150 people in attendance at POSCO Center. Major client companies, National Assembly members Myung-Jae Park, In-Hwa Jung and other government officials, construction related associations, architects, and construction firms were present at the event.
Steel products for construction are used in architectural structures like buildings and houses, and infrastructures like roads and bridges. However, these products are usually hidden under the structure, and even if they are visible, it is hard to recognize the manufacturer just by looking at the end-product.
This is why POSCO launched the brand with client companies who make steel products for construction with POSCO’s high-end steel materials. From now on, end-users as well as professional users can easily identify and select premium products as if they were selecting daily household items or home appliances.
INNOVILT is a combination of the words innovation, value and built. INNOVILT aims to raise the standard of steel products for construction through hi-tech, creativity, sustainability and partnership.
At the event, POSCO and the client companies announced the brand slogan, “Build the Next, Let`s INNOVILT” and promised to lead the way to a practical and safe construction market.
Along with the brand launch, POSCO opened the INNOVILT Smart Platform (https://innovilt.posco.com/) which enables 3D planning and designing with construction steel products made of POSCO’s steel materials. On November 29, POSCO is set to open up an INNOVILT exhibition at ‘POSCO E&C’s the Sharp Gallery’ in Seoul.
In-Hwa Chang, Head of Steel Business Unit of POSCO, remarked: “We are facing tremendous challenges such as excessive steel supply and staggering economy – but through the partnership with our clients and INNOVILT, we plan to overcome these obstacles.” Chang added, “POSCO will concentrate on making high quality, high-value products, and will also work on building credibility in the construction steel market.”
Myung-Jae Park, the National Assembly member who attended the event, expressed his wish to raise awareness on the value steel has in the market. He also emphasized the role steel can play in pioneering innovative practice in the construction industry, thereby raising public consciousness on building safety. Another member of the National Assembly In-Hwa Jung said, “The launch of INNOVILT is not only ground-breaking but also inspiring in that POSCO seeks mutual growth with its client companies.” Referring to POSCO’s recent achievement of one billion steel production, Jung added, “INNOVILT can be the first major step towards achieving 10 billion tons of cumulative steel production, well beyond one billion.”
Hyun-Chul Kim of MOTIE (Ministry of Trade, Industry and Energy) said, “We hope that POSCO’s INNOVILT will pave the path toward creating and expanding demands for steel in which both downstream and upstream industries work together to meet that goal.”
Currently, POSCO is manufacturing the following high-value steel materials: HSA650, resilient structural steel strong enough to resist earthquakes; weather-proof steel that can resist humidity and various meteorological conditions; PosMAC, which is three times more corrosion-resistant than mild steel. Lastly, there is PosART, which applies advanced resolution inkjet printing techniques.
Among the client products that applied POSCO’s steel materials 100%, POSCO will specifically designate INNOVILT products for which the technology and marketability of the products will be used as the selection criteria. The current INNOVILT contenders include products for interior & exterior that are durable yet aesthetically pleasing; earthquake-resistant product that helps expedite construction schedule; and sustainable civil engineering products that require no painting.
Through the INNOVILT Alliance, POSCO’s client companies aim to reinforce credibility by improving product and service qualities. Additionally, the companies plan to develop solutions and applicable technologies and will also discuss marketing methods so that INNOVILT products can pioneer innovation across industries.