Global Steel Authority WSD Recognized POSCO, and Evaluated 23 Criteria for 35 Global Steel Giants
Achieves a Perfect Score of 10 in Six Key Areas, Including Technological Innovation, Processing Cost, and Upstream and Non-Steel Businesses
WSD Highly Commends POSCO’s Carbon Reduction Efforts, Including the Vision of “Better World with Green Steel”
POSCO has achieved a remarkable accomplishment by securing the top spot as the most competitive steelmaker globally for the 14th consecutive year.
World Steel Dynamics (WSD), a well-known global steel analysis institution, revealed the results of its World-Class Steelmaker Rankings on December 18 (local time in New York).
Facing tough sales conditions such as a slowdown in domestic demand and growing global trade issues, POSCO successfully overcame these challenges and accomplished the formidable task of fully normalizing operations after the Naengcheon River flood. The company scored the highest in six categories, including technological innovation, processing costs, workforce capabilities, mergers and acquisitions, national risk, and upstream and non-steel industries, ranking first overall with 8.62 out of 10 points.
Founded in 1999, WSD evaluates 35 of the world’s leading steelmakers based on 23 criteria, including technological innovation, cost reduction, processing costs, financial stability, customer accessibility, and raw material accessibility, and has published comprehensive annual competitiveness rankings since 2002. These rankings are an essential reference point for assessing the management performance and future potential of major global steel companies.
WSD clarified that POSCO’s remarkable score is attributed to its vision of “Better World with Green Steel” and its efforts in carbon reduction steel production.
The company was also named the Sustainability Champion by the World Steel Association for two consecutive years in April and was awarded in the “Sustainability” category at the Steelie Awards in October.
At the first Breakthrough Technology Conference organized by the World Steel Association in Abu Dhabi, UAE, on December 5, POSCO shared information about its carbon neutral strategy and unique hydrogen reduction ironmaking technology, HyREX. POSCO discussed the current status of its development, as well as low-carbon bridge technologies, which demonstrates its leadership in promoting carbon neutrality in the global steel industry.