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POSCO named ‘The World’s Most Competitive Steelmaker’ for 13 consecutive years


Announced by the global steel information service WSD on December 12 … Evaluated 23 categories for 35 steelworks worldwide

Obtained a perfect 10 in seven categories, including eco-friendly technical innovation, higher-value products, and manpower capability

CEO Jeong-woo Choi inaugurated as the Chairman of the World Steel Association, leading carbon neutrality in the steel industry based on HyREX technology

POSCO was ranked number one as the world’s most competitive steelmakers for 13 straight years by World Steel Dynamics (WSD), a global steel analytics on December 12 (New York local time).

WSD, established in 1999, evaluates global steelmakers in 23 categories every year and announces their competitiveness rankings.

POSCO scored a perfect 10 in seven categories including eco-friendly technical innovation, higher-value products, processing cost, manpower capability, new growth business, investment environment, and national risk factors, and ranked first overall with an average of 8.5 points (out of 10 points).

WSD CEO Philipp Englin highly praised POSCO’s efforts to jointly develop hydrogen reduction steel technology, saying “POSCO’s Hydrogen Iron & Steel Making Forum (HyIS) has become the focal point for carbon neutrality by drawing cooperation at the steel industry value chain level,” and said, “POSCO’s $40 billion (US dollar) investment in Australia’s eco-friendly steel raw materials and hydrogen has also led to a positive evaluation of POSCO’s carbon neutral realization and growth potential.”

He added that POSCO’s unique ability to operate steelworks, continuous profit generation, and financial soundness were cited as reasons for achieving the No. 1 position for 13 consecutive years.

This year, 35 steelmakers were subject to evaluation, and this ranking serves as an important reference index for determining the management performance and future development potential of major global steelmakers.

Meanwhile, POSCO was the first Korean steelmaker to be selected as the World Steel Association’s Sustainability Champion in April and is leading the global steel industry to be carbon neutral by jointly developing hydrogen-reduced steel technology and forming a ‘HyREX R&D Partnership’.

CEO Jeong-woo Choi was inaugurated as the chairman of the World Steel Association and also received awards in the ‘Technical Innovation’ and ‘Sustainability’ categories at the 2022 Steelie Awards in October.

In addition, POSCO was recognized as the world’s best steelmaker by winning the ‘Best Steelmaker’ award following in 2018 and 2020 at the 10th Global Metals Awards hosted by S&P Global Commodity Insights. CEO Jeong-woo Choi was selected as the ‘CEO of the Year’ with the most outstanding performance and leadership in the metal and mining industries.

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