l Achieving perfect scores in seven categories including ‘Harnessing tech revolution ,’ ‘Value-added product mix,’ and ‘Skilled and productive workers’
l Proactive corporate citizenship endeavors lead solid scores in Balance Sheet and Profitability categories
l The result based on WSD evaluation of 34 steel companies across 23 criteria
POSCO has been named the most competitive steelmaker for ten consecutive years.
World Steel Dynamics Inc. (WSD), a global research institution for the steel industry, announced that POSCO topped the World-Class Steelmaker Rankings at the 34th Steel Success Strategies conference held in New York City from June 17 to June 19.
Established in 1999, WSD evaluates the competitiveness of top 34 steel companies around the globe based on the 23 criteria ranging from technology, innovation to the environment. As the only institute who quantifies a company’s competitiveness based on objective measures, the WSD report is a crucial indicator that can help predict the potential and performance of the companies.
The staggering global economy cased overall slowdowns across the steel-demanding industries, and trade protectionism is pervasive across the sector. Despite these strenuous circumstances, POSCO saw a boost in sales for its World Top Premium (WTP) products. After announcing the company’s new management principle firmly grounded in corporate citizenship, POSCO’s business activities focused on accommodating both economic and community values, all of which led to solid WSD ratings.
Based on the 10-point scale, POSCO achieved 8.35 average across 23 different categories with top scores in categories involving: value-added product mix, tech revolution, skilled and productive workers, expanding capacity, country risk factor, etc.
Meanwhile, global steel companies like Nucor, Voestalpine, Severstal, and Nippon Steel trailed POSCO as top 5 steel companies on the WSD list.
<2019 WSD World-Class Steelmaker Rankings>
