Technology isn’t just securing the safety. Also boosts athlete’s motivation

Pride of the Korean-Made

The passion of the athletes seen at The PyeongChang 2018 Paralympic Winter Games is unforgettable. It is to this end that POSCO has devoted itself to supporting athletes with disabilities.

When it comes to sports, even small improvements in technology or changes to the gear may bring about huge differences. Having supported the national para ice hockey team since 2016, POSCO developed lightweight sledges with improved tolerance shock absorption for the Korean para ice hockey team so that the athletes could focus more on the game. This made POSCO the first company in Korea to manufacture athletic gear for national Paralympic teams. Equipped with motivation and new gear, the Korean para ice hockey team achieved an amazing Bronze medal in The PyeongChang 2018 Paralympic Winter Games.

SEE ALSO: Parallel: Shining a Spotlight on the Korean National Para Ice Hockey Team

With memories of The PyeongChang 2018 Paralympic Winter Games still fresh, South Korea recently observed the National Day of Persons with Disabilities on April 20. In recognition of this day, POSCO interviewed Jin-Owan Jung, head officer at the Korea Paralympic Committee Icheon Training Center and manager of the Korean Paralympic team the man who led the Korean team at The PyeongChang 2018 Paralympic Winter Games and one who both understands and represents the interests of people with disabilities in Korea.

“It’s Not Just About Overcoming Your Disability But Accepting It.- Jin Owan, Jung”

He emphasized the recognition and acceptance rather than struggling

Accept who you really are

Jin-Owan Jung was 22 years old when a car accident left him paralyzed from the waist down in 1987. Undeterred by the accident, Jung set his eyes on becoming an athlete for the Paralympics when he saw the Seoul Paralympic Games in 1998. He won 2 medals – a gold and a bronze – in Shooting in the 2000 Sydney Paralympics Games. After retiring as an athlete, his passion for sports drove him to take on a new role in administration. The experiences gained as a Para sport athlete and also by interacting with others with disabilities, gave him a perception that acceptance of one’s disability is more important than struggling to overcome it.

He agrees that the situation is getting better but still needs more support such as financial aspects

You are not alone

The PyeongChang 2018 Paralympic Winter Games was a huge success in that the athletes’ passion inspired positive change in the society’s views toward people with disabilities. Jung noted that the infrastructure for people with disabilities in The PyeongChang 2018 Paralympic Winter Games was much improved in comparison to past games. However, he believes there is still room for improvement. Additional and sustainable social support is necessary to ensure those with disabilities can enjoy living conditions equal to those of other citizens and have an equal share in the development of their societies.

POSCO supports not only their technology but also financial aid

How to support?

Jung explains, “Financial support is not everything but it is important in certain circumstances.” POSCO has been a proud sponsor of athletes with disabilities and has provided roughly $2.6 million in support of Para sport since 2011. This year, POSCO donated $370,000 to the Korean Paralympic team in honor of their effort and passion.

‘Harmony’ is the element that POSCO will promise for better society

Jung believes that sports might be the key to resolving discrimination against people with disabilities. However, this can only be accomplished with active contribution from supporters. POSCO will continue to support Jin-Owan Jung’s dream of achieving social harmony and creating a society where having a disability does not impede one’s quality of life.

Scientists predict 2018 may be a tumultuous year for earthquakes. (Source: Take Two)

As structural damage is the leading cause of injury and deaths during an earthquake, architects, engineers and builders need to make sure buildings are built with the right materials and design.  

SEE ALSO: What it Takes to Build a Natural-Disaster-Proof House

The Materials

The most dangerous type of earthquakes are ones that trigger horizontal movements, because tall buildings are better at resisting vertical loads than horizontal ones. These ground motions can damage building foundations in a matter of minutes, causing severe injuries and deaths. Building a structure to withstand seismic waves starts with the right materials with the right properties, and steel is by far the most widely used material for building earthquake-resistant buildings.

According to the World Steel Association, ductile buildings are safer as they dissipate energy from seismic waves. A building will typically have ductile parts that can undergo plastic deformations without complete structural failure during an earthquake. Steel is the most common type of material for such parts.

Moreover, due to the law of inertia, the lighter the building, the less force seismic waves will exert on the building. That’s why it’s important, especially for taller buildings, to be made of light and flexible materials such as steel that can “bend” with the movement of earthquakes. On average, multi-story steel buildings are 60 to 70 percent lighter and 10 times stronger than concrete-framed buildings of the same size.

The Design

With steel, builders can add vital designs and reinforcements to keep the structure standing through an earthquake. Here’s some of the most widely-used measures.

Cross braces transfer the force of an earthquake to the ground. (Source: Earthquakes in India)

The structural integrity of buildings can be reinforced with steel cross braces that frame the exterior of a building in an x-shape. Ultimately cross braces can transfer the force of seismic waves back down to the ground, instead of letting the building take the hit. Builders can also reinforce the walls of buildings with additional vertical walls, or shear walls, that add stiffness to the frame of the building, allowing it to resist swaying or horizontal movements.

Base isolators absorb much of the shock of seismic waves. (Source: Embelton)

Base isolation involves separating the building from the foundation so that the isolators to absorb shock from the earthquake. The isolators allow the building to move at a slower pace because they dissolve a large part of the shock. Moment-resisting frames also effectively dissipate energy from floors and roofs to the building’s foundation and the stiff yet flexible frames can change shape during an earthquake. Although more costly, moment-resisting frames enable buildings to withstand an earthquake with excessive horizontal movement.

Putting it into practice with POSCO’s Steel House

In September 2017, Young Bae Kim’s home in Gyeongju province, Korea was hit with a 5.8 magnitude earthquake, just 8.9 km from where the earthquake started. Surprisingly, Kim’s home was unscathed. “I could feel the ground shake, but the house was completely under control.” Kim expressed.

Kim lives in one of the Steel Houses built by POSCO employees who volunteer to build homes and bridges for communities in need. Each Steel House is made with POSCO’s lightweight structural steel known for its durability, fire resistance and vibration resistance. The homes also incorporate PosMAC, a specialized galvanized steel that is 5 to 10 times more corrosion-resistant than standard steel and is more durable and affordable.

POSCO Employees volunteer their time to build steel houses in rural communities.

Because all the Steel Houses survived the Gyeongju earthquake while other homes were damaged, more and more people in Korea are choosing steel for their homes over traditional building materials such as wood and concrete. The same trend can be observed in Japan, where earthquakes are much more frequent. In order to build more earthquake-resistant buildings, steel is still the best solution available.

Cover photo courtesy of CNN.

PT. KRAKATAU POSCO sold 1.7 million tons of steel in 2014, its first year of operation, then increased its sales to 2.8 million tons in 2016. The company’s annual sales volume has increased continuously, and its cumulative sales reached 10 million tons as of January 15, 2018. Last year’s tentative performance showed an operating profit of about USD 12 million, enabling the company to turn a profit for the first time.

PT. KRAKATAU POSCO, which began operations in December 2013, is the first integrated steel mill in Southeast Asia with a production capacity of 3 million tons. POSCO and Indonesia’s state-operated steelmaker Krakatau Steel invested 70 percent and 30 percent respectively.

PT. KRAKATAU POSCO is the only steel mill in Southeast Asia with a 3 million ton capacity.

As PT. KRAKATAU POSCO is POSCO’s first overseas steel mill, POSCO concentrated all the competencies of its group affiliates including POSCO E&C, POSCO Energy and POSCO ICT into constructing and operating the facility. After 4 years of hard work, PT. KRAKATAU POSCO is now the leading steelmaker in Southeast Asia.

Instead of resorting to imports, Indonesia can now procure high-quality steel products from  PT. KRAKATAU POSCO, greatly enhancing the competitiveness of Indonesia’s steel-consuming industries.

PT. Bukaka Teknik, manufacturing steel-frame structures, is planning to purchase 120,000 tons of thick plates from PT. KRAKATAU POSCO, and construct Indonesia’s first steel-framed elevated expressway, and PT. Kenertec, Korindo Heavy Industry’s wind turbine tower production subsidiary, will build wind power generators and wind turbine towers with PT. KRAKATAU POSCO steel for export to the US and Europe.

PT. KRAKATAU POSCO also plans to further reinforce partnerships with local steelmakers and increase investments in downstream industries to continue providing quality steel products to its partners in Southeast Asia.

Cover photo courtesy of Universitas Gadjah Mada.

Since 2014, POSCO successfully completed 150 cases of restructuring.

Back in the 2000s, POSCO suffered its worst financial crisis due to failed investments in growing businesses. Its consolidated operating profit, which exceeded KRW 7 trillion at one time, recently fell to about KRW 2.5 trillion. POSCO’s cash on hand, which peaked at more than KRW 8 trillion, declined to nearly KRW 5 trillion, and credit ratings worsened as well.

That’s when CEO Kwon implemented the Innovation POSCO (IP) 1.0 and 2.0 projects successively to innovate the company’s financial structure and began broad-based restructuring. CEO Kwon recalls, “POSCO sold its non-core steel business, and merged similar businesses to increase efficiency and eliminate waste. We also liquidated low-yielding substandard businesses to prevent the aggravation of insolvency.”

As a result, the number of POSCO’s domestic affiliates decreased from 71 to 38, and the number of its overseas affiliates declined from 181 to 124. The company also recovered KRW 7 trillion over the 4-year period, and prevented annual losses of about KRW 400 billion.

Moreover, POSCO’s consolidated cash on hand increased to KRW 8.55 trillion at the end of the third quarter, repaid its debts by more than KRW 5 trillion and POSCO’s consolidated debt ratio dwindled to 67.6 percent, the lowest since 2010. Moody’s, an international credit rating agency, recently upgraded the forecast for POSCO’s issuer rating, Baa2, from negative to stable, and then to positive, and predicted that POSCO’s financial health will continue to improve in the next 1-2 years.

POSCO’s Future growth strategy is two-track: smartization and development of new growth engines.

CEO Kwon expressed his vision for the company In 2018 and beyond. He said, “POSCO plans to implement smartization with efforts such as combining ICT with its core businesses, ranging from steel and energy to construction and chemicals to develop newly converged businesses to lead the 4th Industrial Revolution.”

CEO Kwon delivering his new year’s message at the POSCO Family Kick-off Meeting 2018.

SEE ALSO: Building on a Year of Success: POSCO’s Top 9 News of 2017

The company will also accelerate the development of smart factories utilizing big data and artificial intelligence, and further enhance core processes for environmentally-friendly, highly-efficient and future-oriented steel mills.

In addition, CEO Kwon mentioned that POSCO will carry out new growth businesses this year in the energy and materials sectors. In the energy sector, POSCO will work to stabilize its power generation business, and expand its LNG midstream business by developing the Gwangyang LNG Terminal into the energy hub of Northeast Asia. POSCO is also planning to increase investments in renewable energy and seek business opportunities in line with government policies to reduce greenhouse gas emissions.

The company will also work to secure stable supplies of saline water and ores containing lithium in South America and Australia for its lithium business. It also plans to build accompanying infrastructure for mass production.

POSCO will also develop its own manufacturing processes for high-capacity cathode and anode materials used in secondary cells, and work to increase the sales of electric vehicles at home and abroad.

POSCO CEO Kwon Ohjoon greets employees after the kick-off meeting.

To close the event, CEO Kwon remarked, “For the next 50 years, let’s make greater efforts toward our goals with a clear and long-term perspective.”