This evaluation was designed to measure the current status of the sector and also to see where it is headed. LG Electronics, LS Industrial Systems and Hanwha Q CELLS were selected along with POSCO Humans.

A panoramic view of a floating solar power system installed with POSCO’s corrosion-resistant World Premium PosMAC Profile in Boryeong Dam by POSCO Humans.

POSCO Humans started its solar power business in 2013 with Korea Water Resources Corporation in order to provide a framing system for a floating solar power system. Currently, the company is carrying out projects in the structural and EPC sectors.

POSCO Humans received excellent evaluations for its steel structures that were built for solar facility installations, the use of PosMAC materials for solar power generation, and its eco-friendly floating solar power systems.

In particular, POSCO Humans received high marks for securing superior technology in its PosMAC profile – including a structure used exclusively for floating solar power generation facilities and exclusive bolts that utilize PosMAC. In particular, the PosMAC profile is a bolt-assembled structure that eliminates the need for hole machining and special tools. Therefore, the PosMAC profile garnered attention as a cost-saving product that can greatly cut back on installation time.

Based on this technology, POSCO Humans also conducted other energy-related projects including a floating solar power system at Boryeong Dam (2.0Mw) in South Chungcheong Province, a land solar power system (1.0Mw) in Shihwa Lake, a water purification plant in Siheung (0.4Mw), and a pumping station at Gwangmyeong for the Korea Water Resources Corporation (0.6Mw).

In the future, POSCO Humans will develop its solar EPC business into new next-generation business areas and plan to provide its customers with total solution services such as business feasibility studies, design, construction and post-construction operations.

*PosMAC: A highly corrosion-resistant alloy-coated steel sheet developed by POSCO’s proprietary technology which is more than 5 times stronger than conventional coated steel sheets in corrosion resistance and chemical resistance.

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POSCO partook in this year’s Offshore Technology Conference (OTC), held between May 2 and 5 in Houston.

OTC is the biggest international conference for offshore operation technology, and consists of technology seminars and exhibitions related to offshore plants and equipment.

POSCO has participated in the OTC for nine consecutive years, starting in 2008. This year, specifically, POSCO maximized its promotional effectiveness by setting up an exhibition booth with domestic offshore equipment manufacturers to promote finished solutions that ranged from World Premium (WP) products to equipment.

POSCO and offshore equipment manufacturers have actively and collectively sought new clients by holding technology meetings with engineering, procurement and construction (EPC) companies.

POSCO configured the OTC exhibition booth, which focused on technology solutions for thick plate and high manganese steel, and showcased various products and technologies to visitors, including four types of high manganese steel and 13 types of utilization technologies and component solutions.

In addition, POSCO promoted technology agreements and strengthened its network with material certificate authorities, ordering bodies, EPC companies and manufacturers in order to stimulate new orders for high manganese steel.

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Bird’s-eye view of Hasang Hydroelectric Power Plant

In 2011, POSCO Engineering obtained an order for the Wampu Hydroelectric Power Plant, entering Indonesia’s hydroelectric power plant industry as the first Korean construction company that offered EPC turnkey solutions. Winning contracts for the Semangka Hydroelectric Power Plant (55.4 MW) and the Hasang Hydroelectric Power Plant (42 MW) strengthened its position in the Indonesian hydroelectric power plant construction market. Park Jung-hwan, CEO of POSCO Engineering said, “We will successfully complete this project with sufficient technologies and previous experiences gained from the Wampu and Semangka projects. Based on our hydroelectric power plant construction know-how, we seek to enter neighboring countries which have similar geographical characteristics to Indonesia.”

Location of Hasang Hydroelectric Power Plant

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Yet, the quality standards for advanced steel used for drilling, producing, transporting, conserving and handling energy resources for oil and gas are becoming stricter so that steel can better endure the harsh drilling environments of the deep sea and polar areas, two domains on the radars of oil exploration geologists.

At this year’s Offshore Technology Conference (OTC), the world’s largest marine technology exhibition, which was held from May 4 to 7 in Houston, Texas, POSCO showcased its efforts on such developments. Included were its lineup of high-grade steel products, as well as the firm’s cross-department collaboration system between steel plants, laboratories and marketing departments, among others, to improve the development of functional, advanced steel.

Considered the leading forum for gathering and sharing offshore oil and gas information (as well as unveiling some impressive machinery), the goal of the conference, according to its website, is to “advance scientific and technical knowledge for the safe, environmentally friendly and sustainable development of offshore oil and gas resources.”

Despite recent low oil prices, the 2015 OTC attracted over 94,000 attendees, making it the sixth largest in its 47-year history. Additionally, approximately 2,700 major oil and global EPC (Engineering, Procurement and Construction) companies from 37 countries participated.

Among these, POSCO represented South Korea, aiming to continue its solution marketing activities for advanced steel for energy, production and technology, as well as steel utilization techniques.

Introducing a variety of the company’s products and technologies, POSCO’s exhibition consisted of four zones: energy plants, energy pipes, shipbuilding, and manganese steel sectors. At the booth, a video on steel-making technology was presented to help attendees better understand steel products.

POSCO displayed its strength as a “total solution provider,” which has helped the firm to simultaneously strengthen its position in the steel market and discover new business opportunities.

Since it first participated in the OTC in 2008, POSCO has operated a booth annually as part of its demand development activities, which have led to the company’s increasing development of energy steel in a short period of time. Moreover, POSCO’s progressive product promotion and supplier certification activities have resulted in a successful long-term contract for the blanket supply of energy steel, and have solidified technical cooperation with clients.

As new advancements are made in offshore drilling technology, the utilization of steel in the industry will also evolve. POSCO will continue to adapt to such changes, and will work hard to manufacture sustainable, quality products to meet the demands of its clients.

POSCO-America TSC (Technical Service Center) is strengthening its technical services and solution-based marketing support for its US and Mexican clients. The company opened last year with two offices in Mexico City, the capital and largest city in Mexico; and Birmingham, Alabama. Past January, it opened one more place of business in Houston, Texas. Based in these three cities, POSCO-America TSC is engaging in technical services and EVI (Early Vendor Involvement) activities for its clients in North and Central America, in which automotive and energy steel products are in high demand. Mexico is a global automotive industry hub. World’s top-notch automakers such as Nissan, GM and Volkswagen have active business operations in the country.

POSCO-America TSC Mexico City is currently focusing on automotive industry, providing technical services while working hard to develop new clients. It is also pursuing a certificate in automotive steel products. In an effort to increase the sales of steel products produced by POSCO and its local sales unit, POSCO-Mexico, the company is exchanging information with local processing centers and distribution corporations. POSCO-America TSC is scheduled to open a new business operation in Detroit, Michigan, within this year. Many global automobile manufacturers have headquarters and R&D centers in the city. Once it is opened, the Detroit office will dedicate itself to providing technical services for car companies in North America, as POSCO-America TSC Birmingham does.

Houston along with Scotland’s Aberdeen are two of the global energy industry hubs.  Located in Houston are companies from various sectors of the energy industry, such as Exxon Mobil, Shell, EPC (Engineering, Procurement & Construction) corporations and equipment fabricators. For this reason, POSCO-America TSC Houston is striving to get information about new business opportunities, by engaging closely with its key clients. As a result of all these efforts, POSCO-America TSC successfully signed a contract to supply GI (galvanized steel) products to a major US truck maker. Upon hearing that the GI materials the truck maker had been supplied were often flawed, POSCO-America TSC proposed a solution, in an effort to win trust from the company (and it worked perfectly!). The employees of POSCO-America TSC Mexico City demonstrate a high level of satisfaction with their everyday lives, due much to mild climate and friendly locals.

In addition, they take a great pride in representing POSCO’s automotive and energy steel business in the country with great growth potential. Living up to the motto, ‘POSCO the Great’, all the employees of POSCO-America TSC will enhance its efforts to provide its clients with upgraded technical services and solution-based marketing support. In addition to pursuing a certificate in automotive steel products, POSCO-America TSC will seek to strengthen partnership with key clients through more frequent contact with them. The company also plans to form a consultative group with local manufacturers, to improve the quality of its products.

Pictured here: POSCO booth at OTC 2014

Pictured here: Tape cutting ceremony in front of the Korean booth

‘Energy industry’ is a core part of POSCO’s future competitiveness strategy. As such, POSCO has dedicated efforts to develop energy steel technology. Energy steel refers to steels used for the mining, production, transportation, storage and processing for oil and gas. In a nutshell, energy steel serves as a crucial component that is necessary for transporting energy sources around the world. Formerly energy steel business was dominated by European and Japanese steel mills. However, POSCO has made efforts to bolster the collaboration of steelworks, research and marketing department in order to advance technologies to take on a fresh central role in the energy steel market. Through these efforts, POSCO has been able to create high-tech energy steel that is appropriate for extreme environments such as polar and deep sea mining.

POSCO ushers in energy technology 

At the 2014 OTC, POSCO was able to use Solution Marketing to promote its energy steel processing and application technology. POSCO first took part in the OTC in 2008 and since then, has been operating a booth at each conference and has steadily assessed demand in the energy industry. As a result, POSCO secured offshore projects with three domestic shipbuilding corporations, and made long term contracts with Shell and Petronas. In addition to product sales, POSCO has been able to develop steel materials based on needs of oil majors, EPC corporations and other clients. Technical partnerships for steel materials and engineering with companies such as Exxon Mobil, SINTEF, AMEC and Fugro were made possible as well.

Pictured here: The honorable guest Moon Seung-wook, chief of Ministry of trade, industry & energy of Korea, and Park Seong-bum, counsel general of Houston, viewing the exhibitions by Korean companies

Based on the results of Solution Marketing efforts, the POSCO booth at OTC this year garnered more visitors than in the past with about 1,050. This was a great opportunity to showcase the POSCO brand to the global energy market. Below are two greatest outcomes from the conference.

 Outcome 1. Sign and discuss steel material supply contracts  

Pictured here: Steel Solution Center Head, Kim Ji Yong, speaks with distinguished VIP guests

POSCO proactively marketed to energy companies such as IOC (International Oil Company), NOC (National Oil Company), and EPC by actively networking and opening business discussions. There were many opportunities to build relations with high-level personnel from about 71 major energy companies. The main purpose for marketing was to raise awareness of POSCO’s specialized advanced technology by promoting solutions for steel used in energy projects such as finished steel plates, STS, Titanium and wire rods.

Pictured here: OTC 2014 conference attendees touring the POSCO booth

Based on consideration of technology exhibition traits, POSCO set up experts to promote technologies for each field. Moreover, in addition to steel production, POSCO has capabilities for engineering, construction, equipment manufacturing and other differentiating value chain strengths which has helped POSCO distinguish itself to win energy projects. As a result, POSCO was able to sign agreements to supply steel to major energy businesses. Going forward, POSCO aims to continue to create new business opportunities in this way.

Outcome 2. Sign MOU and JDA, and discuss joint research opportunities

Pictured here: POSCO booth at OTC 2014

On this day, POSCO was able to showcase five special solutions including wear resistant steel, slurry pipes, welding, LNG tanks and other steel application technology on a global stage. It was a great opportunity to raise awareness and gather interest from major energy corporations for joint research on technology cooperation, polar region steel and welding materials. In addition, MOUs and JDAs were signed with major companies for more growth.

Prepare for the future with future growth engines!

As the weight of energy projects on the overall business grows, POSCO plans to strengthen collaboration between POSCO E&C, POSCO SPECIALTY STEEL and POSCO PLANTEC in order to develop its capabilities to meet various market changes and be a Total Solution Provider. By making meaningful relationships with some of the largest energy corporations in the world, POSCO can compete in the global top tier level by continuing to develop new projects and technologies that are appropriate to changing market and customer needs.

Between 6th and 9th May, POSCO joined the Offshore Technology Conference (OTC) in Houston, U.S.. During the conference, POSCO promoted energy steel products created by its own specialized technologies. Let’s find out how global players reacted to POSCO’s top-notch technologies, which would lead the future of steel industry in coming years.

POSCO participates in the world’s biggest Offshore Technology Conference

Established in 1969, OTC is the biggest international conference for offshore operation technology. For this year, 2,500 companies from 110 countries participated in the event. POSCO has been joining the conference for the last six consecutive years since 2008.

POSCO sets up a joint booth with five affiliates, emphasizing its ‘Value Chain’

During the event, a joint promotional booth was set for POSCO E&C, POSCO Specialty Steel, POSCO Plantec, Sungjin Geotec and POSCO Engineering. At the booth, POSCO’s energy steel plates, such as thick steel plates and API-X120, and a miniature model of offshore plant structure were exhibited to highlight the leading global steelmakers’ value chain.

POSCO catching the public eye with cutting-edge products

1,500 visitors, including Gwan-sub Lee, head of industry policies at the Ministry of Trade, Industry and Energy, major oil companies, EPC companies and energy equipment manufacturers called at the venue and showed great interests in POSCO’s competence in developing steel plates for energy uses.

POSCO also caught many eyes with its special reception for the major oil and EPC companies with a presentation illustrating the advantages of POSCO’s energy steel plates and POSCO subsidiary companies’ business competence, followed by a traditional Korean performance. POSCO also signed an MOU with Fugro, the world’s No.1 geotechnical company, as well as discussing cooperation methods and sales strategies for POSCO’s energy steel plates with Shell and the Korea National Oil Corporation.

During the reception ceremony, In-Hwan Oh, Head of Carbon Steel Business Division of POSCO, addressed “By participating in this conference, POSCO is aiming to maximize the synergy with Korea’s top 3 major shipbuilders and other equipment manufacturers through becoming a powerful supporter of oil and gas industries and a total solution provider.”

With the market data and contents of counseling collected from the conference, POSCO will strengthen the firm’s business and promotional activities in order to achieve the accompanied growth with other Korean corporates. In addition, POSCO will expand the sales of energy steel plates to the global top players of the energy industry by raising the brand awareness as well.