It was their second encounter since CEO Chung had visited Google’s headquarters in April, 2012. Through using ‘Hangouts,’ a video conference solution by Google, the meeting was held for about half an hour. During the smartly held meeting, Mr. Chung said “POSCO’s Smart Workplace (SWP) is shifting the way POSCO operates and its corporate culture to a great extent. This revolutionary platform, with speed, openness and information technologies from cutting-edge corporates such as Google, is being fused with POSCO’s unique corporate culture.” Chairman Schmidt replied by saying “The momentum POSCO has shown for these changes is very surprising.”

POSCO’s SWP consists of communication and cooperative work solutions via Google’s Gmail, Google+, Google Search and other tools. Since the launch, there has been monthly average of 14,000 transmissions of exchanging knowledge and ideas amongst POSCO’s employees. Also, costs for off-line meetings and reports have been cut down by about 30 percent given the online working solution. The times spent for decision-making procedures illustrated a 63 percent reduction per day with the mobile office environment having no time and space limitations.

Since SWP was introduced POSCO employees have been able to engage their tasks through smartphones or PCs in real time at wherever they may be. As the figures show above, business decisions can now be determined much faster than before as SWP provides quicker communication and cooperation. Notably, a knowledge share system has been constructed to allow POSCO’s entire staff around the globe to inquire, search, access and compile information on specific issues. The system is designed to maximize POSCO’s collective intelligence to synergize its operations and productivity.

POSCO is planning to provide ‘know-hows’ of constructing SWP environment for its mutual investment companies by the end of 2013. In collaboration with Google, the new, revolutionary culture will be broadly shared with every POSCO employees. Keep watching out for the future POSCO and Google are making.

During an annual meeting of the World Steel Association (worldsteel) in New Delhi, India, Mr. Chung was appointed as one of the two vice chairmen. He is expected to become worldsteel chairman in October 2013 as precedents complied by worldsteel, and will serve his term from 2013 until 2014.

[box] What is worldsteel?

worldsteel is the international trade body for the iron and steel industry. The association represents approximately 170 steel producers (including 17 of the world’s 20 largest steel companies), national and regional steel industry associations and steel research institutes. worldsteel members represent around 85% of world steel production. The purpose of the association is to promote steel and the steel industry to customers, the industry, media and the general public. worldsteel is a non-profit organization with headquarters in Brussels, Belgium.[/box]

This is a remarkable honor for POSCO as a whole and for our CEO Mr. Chung as well on a personal level. We are glad and excited that through Mr. Chung’s appointment to worldsteel’s executive body will strengthen POSCO’s global status, as well as upgrade Korea’s role in the international steel industry. However, even before receiving this title of the Vice Chairman, Mr. Chung was praised by the international steel community for his work as an executive member of the Executive Committee, which is the top decision-making body within the institution that also oversees worldsteel’s day-to-day work.

This 46th annual gathering was attended by over 200 CEOs of leading global steelmakers, including Chung and ArcelorMittal Chairman Lakshmi Mittal, and heads of steel-related institutions.

Let’s look at who else attended the meeting. Maybe you might recognize a few. On the first row, from the right, are Alexey Mordashov, CEO of Severstal in Russia, next to Lakshmi Mittal of ArcelorMittal, Mr. Chung of POSCO, and CEO Zhang Xiaogang of Ansteel in China. Other participants of worldsteel’s 46th annual meeting included Chairmen John P. Surma of US Steel and Shoji Muneoka, CEO of Nippon Steel & Sumimoto Metal Corporation.

In this meeting, worldsteel members shared and discussed their 2013 Agenda, some of the challenges and necessary changes the international steel community faces, and new technological researches to the solution. Here, POSCO presented POSCO Body Concept-Electric Vehicle (PBC-EV) to the world audience. This is our newest and the most ambitiously created product. PBC-EV is both light in weight and sturdy in sustainability, yet it can be produced with a low-cost investment.

As becoming the Vice Chairman of worldsteel, Mr. Chung emphasized some of the most important issues faced by the global steel industries, such as handling of raw materials, adjusting of supply and demand and strengthening sustainability for the benefit of all steel community. Furthermore, “Global POSCO Strategy,” which POCO is strongly pushing for will also excel greatly. One of Mr. Chung’s most anticipated actions also include effectively mediating an active interaction between the founding members of worldsteel (most of whom located in Europe and America) and the emerging industries of Asia.