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		<title>Chinese New Year &#8211; Official POSCO Group Newsroom</title>
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            <title>Chinese New Year &#8211; Official POSCO Group Newsroom</title>
            <link>https://newsroom.posco.com/en</link>
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        <currentYear>2016</currentYear>
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		<description>What's New on POSCO Newsroom</description>
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				<title>Steel Fireworks Light Up a Steel City During Chinese New Year</title>
				<link>https://newsroom.posco.com/en/steel-fireworks-light-up-a-steel-city-during-chinese-new-year-2/</link>
				<pubDate>Mon, 08 Feb 2016 17:00:30 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[Steel Matters]]></category>
		<category><![CDATA[Asia]]></category>
		<category><![CDATA[Beijing]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[chinese]]></category>
		<category><![CDATA[chinese festival]]></category>
		<category><![CDATA[Chinese New Year]]></category>
		<category><![CDATA[city]]></category>
		<category><![CDATA[Cultural Revolution]]></category>
		<category><![CDATA[festival]]></category>
		<category><![CDATA[fireworks]]></category>
		<category><![CDATA[happy new year]]></category>
		<category><![CDATA[happynewyear]]></category>
		<category><![CDATA[Intangible Cultural Heritage]]></category>
		<category><![CDATA[iron]]></category>
		<category><![CDATA[lunanewyear]]></category>
		<category><![CDATA[material]]></category>
		<category><![CDATA[metal]]></category>
		<category><![CDATA[New Year]]></category>
		<category><![CDATA[newyear]]></category>
		<category><![CDATA[urbanization]]></category>
									<description><![CDATA[Chinese New Year—also known as Lunar New Year—is an important festival celebrated throughout Asia at the turn of the traditional lunisolar Chinese calendar.]]></description>
																<content:encoded><![CDATA[<p>Chinese New Year—also known as Lunar New Year—is an important festival celebrated throughout Asia at the turn of the traditional lunisolar Chinese calendar. Celebrations are festive and grandiose, involving enormous feasts of holiday treats, spectacular parades, gift-giving among friends and family, and fireworks—lots and lots of fireworks. While setting off firecrackers was traditionally believed to frighten off evil spirits, restrictions in modern-day China mean that many families improvise by popping balloons and displaying firework decorations.</p>
<p>Still, in the small town of Nuanquan in Heibi Province, China, just west of Beijing, a small group of farmers are keeping one of the world’s most unique fireworks displays alive.</p>
<p><iframe width="500" height="281" src="https://www.youtube.com/embed/QEls4aoJYII?feature=oembed" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe></p>
<p style="text-align: center;">Resource: <a href="https://www.youtube.com/watch?v=QEls4aoJYII" target="_blank">China&#8217;s Blacksmiths Put On Dazzling Display for New Year</a></p>
<p>About 500 years ago, there were many blacksmith shops in the farming town of Nuanquan. Unable to afford expensive fireworks during the Chinese New Year holiday, lower income residents such as blacksmiths and farmers sought an alternative. Inspired by the beautiful sparks emitted during their iron working, a group of brave blacksmiths began splashing molten metal on the city walls, which resulted in the creation of beautiful flower shapes from the cooling iron.</p>
<div id="attachment_7923" style="width: 410px" class="wp-caption alignleft"><a href="https://newsroom.posco.com/en/wp-content/uploads/2016/02/11.jpg"><img class="wp-image-7923" src="https://newsroom.posco.com/en/wp-content/uploads/2016/02/11-1024x768.jpg" alt="POSCO_Chinese New Year Steel Firework" width="400" height="300" srcset="https://newsroom.posco.com/en/wp-content/uploads/2016/02/11-1024x768.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2016/02/11-800x600.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2016/02/11-768x576.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2016/02/11.jpg 1148w" sizes="(max-width: 400px) 100vw, 400px" /></a><p class="wp-caption-text">Photo Credit: Robert Berkowitz Creative Commons</p></div>
<p>As time went on, locals began to prefer the stunning, steel-catalyzed display to fireworks, and donated their scrap metal to the blacksmiths to use during the annual performance. Eventually, a more developed system evolved and eventually became known as <a href="http://blogs.wsj.com/chinarealtime/2015/02/23/watch-dazzling-poor-mans-fireworks-in-a-chinese-steel-city/"><em>dashuhua</em></a>, which roughly translates as “throwing tree fireworks.”</p>
<p>To create the display, men first soak wooden ladles in water for three days prior to the show to prevent them from combusting on impact. After dipping the ladles into the molten iron (which is made from smashed up pieces of pig iron), flames instantly shoot up. As such, the men work quickly to splash the molten iron onto the city wall to avoid injury.</p>
<p>As the metal strikes the cold, hard wall, it explodes into a shower of sparks, mostly over the performers. Due to the danger posed by the falling molten iron, only the bravest individuals performed in the show, wearing only a jacket made of sheepskin—a material that naturally repels the molten iron—and a straw hat to protect against the splash of hot metal.</p>
<div id="attachment_7924" style="width: 410px" class="wp-caption alignright"><a href="https://newsroom.posco.com/en/wp-content/uploads/2016/02/2.jpg"><img class="wp-image-7924" src="https://newsroom.posco.com/en/wp-content/uploads/2016/02/2-1024x768.jpg" alt="POSCO_Chinese New Year Steel Firework" width="400" height="300" srcset="https://newsroom.posco.com/en/wp-content/uploads/2016/02/2-1024x768.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2016/02/2-800x600.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2016/02/2-768x576.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2016/02/2.jpg 1200w" sizes="(max-width: 400px) 100vw, 400px" /></a><p class="wp-caption-text">Photo Credit: Robert Berkowitz Creative Commons</p></div>
<p>Despite being banned during the Cultural Revolution from 1966 to 1976, the tradition has since carried on through the ages. Refusing modern protective clothing to more closely maintain the tradition, today’s performers are prideful of their region’s rich cultural heritage and are eager to pass on the custom to their children. They are also pleased that the event continues to attract spectators from all over China, who gather in freezing temperatures to witness the incredible scene of a night sky illuminated by the sparks of molten iron.</p>
<p>However, as urbanization surges in the world’s most populated nation, the tradition is on the decline, with only four performers left. As such, the Chinese government has designated <em>dashuhua</em> as an Intangible Cultural Heritage and has helped organizers build a dedicated stage for their performances, with an aim to preserve the country’s past as well as Nuanquan’s steel-centric custom.</p>
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				<title>POSCO Announces Q3 2013 Record, Posting KRW 632.8 Billion in Operating Profit</title>
				<link>https://newsroom.posco.com/en/posco-announces-q3-2013-record-posting-krw-632-8-billion-operating-profit/</link>
				<pubDate>Thu, 24 Oct 2013 18:00:38 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[Press Release]]></category>
		<category><![CDATA[Chinese New Year]]></category>
		<category><![CDATA[energy]]></category>
		<category><![CDATA[global]]></category>
		<category><![CDATA[iron and steel]]></category>
		<category><![CDATA[material]]></category>
		<category><![CDATA[Operating Profit]]></category>
		<category><![CDATA[POSCO]]></category>
		<category><![CDATA[steel]]></category>
		<category><![CDATA[steel industry]]></category>
		<category><![CDATA[total solution]]></category>
									<description><![CDATA[POSCO alone marked 7.4114 trillion won in sales and 442.7 won in operating profit. POSCO further strengthened its financial soundness in the third quarter. In]]></description>
																<content:encoded><![CDATA[<p>POSCO alone marked 7.4114 trillion won in sales and 442.7 won in operating profit. POSCO further strengthened its financial soundness in the third quarter. In particular, their debt ratio went down by 7.8% to 82.7% based on the consolidated financial statement, and POSCO alone marked a debt ratio of 27.5% reduced by 3.8% with a non-liability fund of about 2 trillion won raised through issuance of hybrid securities and sales of treasury stock.</p>
<p align="left">In the third quarter, both sales and operating profit were reduced compared with the last quarter due to a depression in demand, a selling price fall and rising cost of feed stocks during the off-season worldwide, along with cut-production policies followed by an unprecedented power shortage, but POSCO managed to minimize the decrement through product differentiation and cost-reduction measures.</p>
<p align="left">The market share of the ‘world-best’ products that POSCO produced with its world’s top three technologies and economic feasibility such as high-strength tire code and eco-friendly AHSS (Advanced High-Strength Steel) and the ‘world-first’ products that POSCO developed for the first time in the world has continued to increase, and in the end, reached 22.5% from 15.5% in the third quarter of the last year.</p>
<p align="left"><img class="size-full wp-image-2444 aligncenter" src="https://newsroom.posco.com/en/wp-content/uploads/2013/10/01.jpg" alt="POSCO Announces Q3 2013 Record" width="650" height="178" /></p>
<p align="left"><img class="aligncenter" src="https://newsroom.posco.com/en/wp-content/uploads/2013/10/02.jpg" alt="POSCO Announces Q3 2013 Record" width="650" height="264" /></p>
<p align="left">In terms of cost reduction, a total of 494.7 billion won was saved including 223 billion won in the cost of raw materials, 75 billion won in material costs and 121 billion won in expenses.</p>
<p align="left">In addition, POSCO made a significant achievement this quarter in expanding its energy and material markets that were promoted in keeping with the upcoming age of slow growth in the iron and steel industry. Based on the consolidated financial statement, operating profit in the steel market reached 3.5%, whereas operating profit in energy and chemical materials markets marked 7.5% and 4.1%, respectively, and accordingly exceeded operating profit in the steel market.</p>
<p align="left">POSCO predicted that the global demand of steel will recover in the fourth quarter. It is expected that the Chinese steel market will begin to recover as the overstock problem, which was the main reason behind the weakening of steel prices in the Chinese market, is solved, together with an increase in stock and imaginary demand in the course of preparing for the Chinese New Year. Moreover, the global steel demand in 2014 is expected to reach about 1 billion tons along with a stable increase of 3% in demand as there is an indication of an increment in moderate demand among advanced countries with signs of economic recovery.</p>
<p align="left"><img class="size-full wp-image-1200 aligncenter" src="https://newsroom.posco.com/en/wp-content/uploads/2013/04/posco_45th_02.jpg" alt="POSCO’s 45 Years of History. Read POSCO’s Remarkable Legacies" width="650" height="365" srcset="https://newsroom.posco.com/en/wp-content/uploads/2013/04/posco_45th_02.jpg 650w, https://newsroom.posco.com/en/wp-content/uploads/2013/04/posco_45th_02-640x360.jpg 640w" sizes="(max-width: 650px) 100vw, 650px" /></p>
<p align="left">In line with the business recovery in the fourth quarter, POSCO plans to concentrate all its efforts to strengthen the high value-oriented in-depth marketing, and therefore improve business performance. The plan is to promote the total-solution marketing activities through which customer-oriented service is provided in the entire process from product designing to sales, in order to increase the market share of the world-first and world-best products, and at the same time, amplify the synergy between its subsidiaries by concentrating on the capabilities of the main business.</p>
<p align="left">Meanwhile, POSCO announced the sales goal of 63 trillion won based on the consolidated financial statement, and of 31 trillion won for POSCO alone this year, and the consolidated investment of 8 trillion won, and alone, 4 trillion won.</p>
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