“Everyone said it’s impossible and yet, today, we stand here in front of you. As one of the leading global companies in the steel industry,” said POSCO’s CEO Jeong-Woo Choi in the keynote speech that kicked off the POSCO Global Early Vendor Investment Forum, a biannual Forum POSOCO has been organizing since 2010.

In his speech “Next 50 Years with POSCO,” commemorating the 50^th anniversary, the CEO shared POSCO’s vision for the future of the steel industry and extended the company’s appreciation to their devoted customers, promising yet another 50-year of commitment to excellence.

In this global Forum that attracted more than 1,400 attendees from all corners of the world, the Futurist CEO Glen Hiemstra, the Auto/Steel partnership Executive Director John K. Catterall and Edwin Basson of the World Steel Association also participated as the Forum’s main speakers.

In the separate events held in the afternoon, the participants further exchanged ideas on topics that will guide the industry future. While Michael Kervy, the Corporate Strategic Research Manager of the Exxon Mobil led the discussion on The Future of Global Gas Industry, Stefan Röthlin of Jansen AG talked about Smart Construction Methods for Steel-Frame and Glass Façade Systems. High-performance plate for eco-friendly energy and eco-friendly ships were also amongst many topics meant to embrace the environmentally sustainable future.

At “World Premium, a side-held event POSCO also organized, showcased more than 120 products corresponding with each sub-theme of the Forum, such as Hot Rolled Steel, Smart Construction, and Electrical Vehicle Material, among others. The products exhibited at the Premium applied steel technology invented by POSCO and presented differentiated solutions that could set that tone for the future trend in the steel industry.

POSCO Showcases the Next 50 Years of Steel at Korea’s Largest Steel Exhibition

Prior to the EVI Forum, POSCO participated in Steel & Metal Korea 2018 (SMK), Korea’s largest steel and nonferrous metal exhibition. The exhibition was held at the Korea International Exhibition Center (KINTEX) from October 31 to November 2 under the theme of “Technological Innovation in Steel & Metal Leading the Fourth Industrial Revolution.”

Over 130 steel and nonferrous metal companies from around the world gathered to showcase their latest industry trends. POSCO, a dedicated participant since SMK’s first launch back in 2010, presented an unparalleled portfolio of advanced products aimed to drive the company’s growth into a global centennial brand. In line with the effort to honor its 50^th anniversary, POSCO outlined the future vision that innovative steel technologies will help create.

POSCO’s mega-exhibit provides a mega-vision for the future

As Korea’s top steel producer, POSCO occupied the largest exhibit space and set up three mega-trend-themed zones: ‘Eco Energy’, ‘Mega City’ and ‘Neo Mobility’.

‘Eco Energy’ drew a sustainable picture of the future city landscape using eco-friendly energy, one of the key displays being PoSWIND, a wind turbine bearing that is more durable to corrosion and damages. While ‘Mega City’ illustrated future daily life, exhibiting a steel cable for mega-bridges, a lighter and faster car of the future was on display in the ‘Neo Mobility’ zone, with life-size electric vehicles.

Ribbon cutting ceremony at the 5th Steel & Metal Korea show, held at Exhibition Center II of KINTEX on October 31. Photo courtesy of Steel & Metal News.

In the event with over 30 stakeholders from Korea and abroad, POSCO presented a vision for the innovative technology as well as its commitment to a sustainable future.

POSCO knows that car manufacturers must deal with unexpected issues during the production process. So, POSCO has expanded its services with Solution Marketing 2.0 in order to provide the application technology and commercial support that customers need. From planning to production, POSCO works hand-in-hand to ensure shorter processing times that move customers to mass production more efficiently.

History of Solution Marketing

Early Vendor Involvement (EVI)

In 2007, POSCO introduced its early vendor involvement (EVI) program. EVI allowed POSCO to participate in the customer’s product development stages, providing support for application technologies needed during manufacturing as well as in performance evaluation of the steel material. In 2014, POSCO expanded its EVI program with the implementation of the more advanced Solution Marketing.

Solution Marketing

With Solution Marketing, POSCO goes one step beyond its steel production to provide customers with the technological, commercial, and human resources support they need. With a focus on developing better relationships with customers, CEO Ohjoon Kwon has emphasized that “Solution Marketing should evolve into human solutions in which customers benefit from the expertise and relationships of POSCO’s dedicated employees.” Since 2014, sales of products combined with Solution Marketing have tripled, and sales of POSCO’s World Premium Products have increased by 56%.

Solution Marketing 2.0

In 2017, POSCO is launching Solution Marketing 2.0 to provide even better support to its customers. Solution Marketing 2.0 is driven by 3 core strategies:

• Innovate – by improving production speed, value, and standards
• Digitize – by providing highly advanced information technology
• Customize – by tailoring each solution to the client’s specific needs

These three strategies are specifically designed to put the customer’s success first and to help them understand the balance between a product’s features, price, and long-term benefits. Through POSCO’s Solution Marketing 2.0, customers are provided the tools they need to maximize convenience and efficiency in utilizing high-quality steel.

“We see POSCO’s success through the customer’s success. And we do not stop working until the customer is satisfied.” In-hwan Oh, President of POSCO

With Solution Marketing 2.0, this level of commitment is guaranteed to each client in every industry (see how Solution Marketing helped a pipe plant in Russia). For automotive manufacturers, Solution Marketing 2.0 helps streamline the production process and shorten setup time. Combined with POSCO GIGA STEEL, Solution Marketing 2.0 can help automakers manufacture higher quality, complex products in less time.

Solution Marketing for the Auto Industry

Solution Marketing for the automotive industry offers specialized support to clients in their setup process. The development process for automakers is composed of four steps: planning, design, building, and evaluation. Through each step of the process, POSCO works with customers to provide customized solutions, resulting in higher quality products and shortened production times. At POSCO China, Solution Marketing 2.0 provided automotive customers with the speed, value, and quality they needed to maximize convenience and efficiency for their production lines.

Step 1 – Planning

In deciding the car’s concept, design, and material of the car, POSCO provides information regarding the initial concept design including material properties and tear down results (including parts analysis after disassembly).

Step 2 – Design

The objective of step 2 is to confirm the design of the parts and the types of steels to be used. POSCO provides numerical simulations regarding collision safety, structural integrity, and formability in order to suggest final design concepts and applicable steels to clients.

Step 3 – Build

In step 3 the car is built with an eye toward mass production. Based on these results, POSCO provides the customer with a variety of guidelines on how to reduce defects while improving weldability. This helps the automaker apply improvements to the process and minimize manufacturing errors.

Step 4 – Evaluation

In the final step, the manufactured car and its parts are evaluated and assessed.

Evaluations on the car’s durability, structural stiffness, and crash performance can be provided. Also, corrosion and coating performance are analyzed in order the car manufacturer to make further enhancements for long-term performance.

For today’s auto manufacturers facing stricter standards in fuel efficiency and safety, POSCO GIGA STEEL offers the best solution to meet their needs. It offers superior strength and formability for manufacturers while also being lightweight and fuel efficient for consumers.

But POSCO’s commitment to auto manufacturers goes beyond providing advanced steel solutions. With Solution Marketing 2.0, POSCO works with customers from planning to production to ensure success.  

 Subscribe to our newsletter today throughout April and May as we highlight POSCO GIGA STEEL and more of POSCO’s unique automotive steel solutions.

To better understand those dramatic developments, POSCO invited noted futurist Thomas Frey to address this year’s POSCO EVI Forum, held Oct. 31-Nov. 2 in Incheon, South Korea. Every two years, POSCO invites hundreds of its customers and partners to learn about POSCO’s unique approach to steel solutions and to talk about the future of the steel industry. So Frey’s presentation gave all the attendees plenty of food for thought.

Frey is the founder of the DaVinci Institute, a think tank and research firm dedicated to exploring the deep transformations that technology is bringing to our world. Frey pointed out that all industries have an arc, with a beginning, middle and an end, and at the moment most of the biggest and most-profitable industries are in the latter half of that curve. In other words, big changes are underway.

A Challenging New World

Frey pointed out that there are two major aspects to innovation: disruptive and catalytic. Disruptive innovation refers to industries that are hurt or eliminated by technology (like how cars took the place of horses and carriages). But catalytic innovation creates whole new fields and economies (like how the rise of electricity completely changed manufacturing and what industry produced).

So far, the modern digital revolution has had two big catalytic innovations – the internet and smart phones. But Frey sees eight more fields that could be just as transformative:

• Driverless vehicles
• The trillion sensor movement
• 3D printing
• The Internet of Things (IoT)
• Contour crafting
• Artificial Intelligence (AI)
• Virtual Reality (VR)
• Flying drones

Each mobile app has the potential to eliminate a few jobs, but with thousands of apps, those jobs begin to add up. Together, these innovations could see 2 billion jobs disappear, as machines take over for up to 47 percent of current jobs. And, Frey noted, some 8,000 startups received $12 billion last year, all looking to take a bite out of traditional industries. “There are no safe industries out there,” Frey said.

But Frey didn’t make this prediction in a “doom and gloom” sort of way – “It’s a wakeup call,” he said. While challenging, these changes could also lead to all new jobs and possibilities.

Cruisin’ Into a New World of Cars

To illustrate what these catalytic innovations might mean, Frey went in-depth about the implications of the rise of driverless vehicles. Most obviously, self-driving cars and trucks will eliminate a wide range of driving-related jobs, like taxi drivers and couriers.

But the changes caused by driverless vehicles to our world will go much deeper than that. Self-driving cars will change society from a buying model to an access economy, where people will just order a vehicle when they need one instead of owning their own. That eliminates the need for most parking lots, gas stations and other automotive fields.

The improved safety potential of driverless vehicles could greatly reduce repair-related work. And, because nearly 10 percent of retail sales are car-related, this could result in major changes for our economy as a whole. Some parts will change from B2C to B2B, while other aspects of the industry will just disappear.

Steel and the New Era of Megaprojects

All businesses have an arc, and steel will, too, noted Frey. “How long before we reach peak steel? Don’t know yet, but we think there’s a long run here still.”

So, with the rise of new substances and manufacturing, as well as the digitizing of much of the economy, what does that mean for steel?

“The future of steel will be defined by megaprojects,” Frey asserted. Indeed, megaprojects represent 8 percent of the global GDP, so the changing infrastructure needs caused by rising digitization will transform economies and the steel industry. “By 2030, we’ll see more changes to our core infrastructure than in the combined total of human history.”

These megaprojects include huge new bridge and tunnel projects, often linking countries across great bodies of water, as well as new high-speed transportation options, like hyperloops and ET3s. With hyperloops promising speeds of 1,100km/hour and ET3s theoretically able to go 6,000km/hour, the ability to go halfway around the world in a couple of hours could once more revolutionize how our societies work. But building the tracks and systems needed for these technologies would require massive amounts of spending – and massive quantities of steel.

“We are entering into an era of unprecedented opportunity,” summarized Frey, talking about both the steel industry and society as a whole. Thanks to Thomas Frey, the EVI Forum attendees gained many valuable insights to think about and discuss during this year’s event.

POSCO EVI Forum Impresses With Solution Marketing

Solution Marketing Revs Up POSCO’s Steel Business

2014 POSCO Global EVI Forum #1 ‘From Steel Supplier to Solution Partner’

2014 POSCO Global EVI Forum #2 Program Details and Client Interview

Be sure you never miss any of the exciting steel stories from The Steel Wire by subscribing to our blog.

He was one of more than 1,000 attendees at this year’s POSCO Global Early Vendor Involvement (EVI) Forum, held Oct. 31 to Nov. 2 in Incheon, South Korea. Every two years, POSCO invites hundreds of its customers and partners, to learn about solution marketing, POSCO’s unique approach to building proactive steel solutions for its customers.

“Since I’m from an Australian electrical steel company, I appreciate the chance to learn meaningful information regarding advance manufacturing and relevant industries,” added Andonovski.

Three Days of In-Depth Presentations

The Forum kicked off with a signing ceremony for more than 100 agreements with global clients in the field of joint technology research and sales. And throughout the three-day event, a variety of speakers kept the audience engaged with a series of presentations.

“POSCO’s future-oriented solution marketing focuses on three solutions,” said Ohjoon Kwon, president of POSCO, in his keynote speech. “Technical solutions that providing steel utilization technology, commercial solutions that support the sales of clients’ products, and human solutions that value connecting with our clients at heart. Using these three solutions, we strive to become a reliable partner that helps our clients find success.”

In addition to a presentation by President Kwon, some of the featured speakers included GM Korea Vice President Greg Tyus, ExxonMobil CTO Douglas Fairchild, the Minister of Trade from Indonesia Thomas Trikasih Lembong and futurist Thomas Frey.

Trends and Demonstrations

Once again, the theme of the forum was “From Steel Supplier to Solution Partner,” and explored three years of solution marketing and the company’s latest products. Additionally, talks examined future trends for the steel industry, including “Eco-Friendly Vehicles,” “Upheavals in Energy,” “Mega Cities” and “Premium Living Infrastructure.”

For example, POSCO had a model car on display made from Giga Steel – an ultra-high strength steel that can withstand a load of 100kg per 1mm². Another type of high-strength steel, HSA800, is twice as strong as ordinary steel and is considered to have very good seismic resistance. And “Inkjet printing steel sheets” are designed for the application of high-resolution images, and is expected to find many uses in home appliances.

The company also introduced high-manganese steel, made from 3%-27% manganese. High-manganese steel has a range of properties – such as abrasion resistance, being non-magnetic, high strength and high formability – making it useful for the energy industry, including LNG tanks.

The Power of Solution Marketing

After the keynote address and general sessions, the attendees were divided into nine industry-specific themes, to allow more detailed discussions and presentations relevant to each field.

“The general session has provided such a great opportunity to expand my knowledge about the different areas of steel,” said Teguh Sarwono, general manager of PT KRAKATAU Steel in Indonesia. “The special lecture about Indonesia’s steel industry was especially insightful for me as a foreign vendor of POSCO.”

In addition to talking about new products, there were also presentations about outstanding examples of POSCO’s solution marketing. For example, POSCO has worked with Volkswagen to make stronger steel and reduce the weight of vehicles, and it worked with Daewoo Shipbuilding & Marine Engineering to create high-strength wire products.

“I feel honored to have been invited to the POSCO EVI Forum, and happy to have gotten the chance to meet clients from all over the world,” said Christiawaty Kasger, general manager of POSCO Indonesia Inti. “By taking part of this kind of event, I have gotten a greater sense of connection with POSCO and look forward to working together more in the future.”

Smart Factory, Smart Company

POSCO has already involved the IoT to develop improved safety measures, but now with the Smart Factory, the entire production process has advanced for the sake of creating better products in the future.

The Smart Factory transforms the conventional idea of a steel mill into an intuitive operating system, promising faster production, higher-quality goods and safer work environments.

Matching its position as a leading global steelmaker, POSCO’s Smart Factory gives evidence of the company’s optimized facilities for creating the most reliable steel products available worldwide.

Solution Marketing Revs Up POSCO’s Steel Business

2014 POSCO Global EVI Forum #1 ‘From Steel Supplier to Solution Partner’

2014 POSCO Global EVI Forum #2 Program Details and Client Interview

Be sure you never miss any of the exciting steel stories from The Steel Wire by subscribing to our blog.

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.

Introducing POSCO’s Global EVI Forum

EVI (Early Vendor Involvement) is an activity, initiated by finished vehicle companies, brings the key auto parts companies to participate in new model development projects. The POSCO EVI Forum, which started as a domestic auto market target event, has been developing into a global event where various industry fields and global client companies participate in; also expanding the contact points with POSCO’s clients in the meantime. Currently, the event is positioning as client-oriented marketing festival to strengthen business partnerships with customers, while facilitating interaction and exchange with potential global clients.

Presentations and Discussions of Six Major Industrial Programs

During the general session which also includes the opening ceremony on the 28^th, Remi Bastian, Renault’s head of research, advanced studies and materials, Sungho Park, POSCO’s Director of Research Center and Raghavan Ayer, SK innovation’s Science Advisor and Senior VP made presentations on industrial topics. Except for the opening ceremony and the general session, the discussions were arranged into six major industrial programs, including automobile, energy, shipbuilding, electricity, electronic, construction, stainless, and wire rod.

Each session’s presentation and discussion on ‘Steel Solution for Eco-friendly Vehicle of Now and Future’, and ‘Energy·Shipbuilding Solution for Client’s Best Value’ intensified the concentration and communication among clients and participants at the event. There were hosted discussions about industrial technology trends, followed by topic-based presentations. Noteworthy examples included a presentation on technology development designed to lighten the weight of automobiles that was undertaken by Volkswagen in Germany; the development of Hadfield steel LNG tanks from Daewoo Shipbuilding & Marine Engineering and the usage of wire rods in the marine industry by KISWIRE.

Also, the forum provided a special location to global clients of each session for technology consultation and purchase agreement, presentation and discussions. In fact, POSCO successfully established positive relationships with global clients through the technology consultation and sales agreement were proceeded for two days from the 27^th to the 28^th.

Focus on Renault’s ‘EOLAB’ of POSCO Chassis

As a rapid adaptation to the trend of European auto industry, Renault has recently introduced its hybrid concept car ‘EOLAB’ (a compound of the Greek god of wind ‘Aeolus’ and the English word ‘laboratory’) which contains POSCO’s steel products. Therefore, the unique technologies of POSCO were praised, including its lightweight· high strength products, which were used in the ‘EOLAB’ prototype. Other noteworthy additions included POSCO’s magnesium plating and PosM Steel, which received much attention from global client companies.

As a result, POSCO was able to sign various technology agreements and sales contracts during the automobile session which is one of the six industrial programs at the forum. Also, POSCO pursued a long-term cooperation with domestic and global companies of the finished vehicle and key auto parts at the same session of the forum. Moreover, POSCO agreed on technology cooperation and joint marketing activities with key domestic and global client companies for shipbuilding, construction, electronic appliance and wire rod.

Creating Successful Partnership through POSCO’s Solution Marketing

Also, this year’s forum has acquired a favorable comment by creating a special counter for POSCO’s solution business introduction and registration for the clients’ request on solution development. Even after the 2014 Global EVI Forum, POSCO promises to continue to seek for practical approaches to the customer value creation. Also, POSCO will further reinforce its growth foundation with clients by amplifying the solution marketing not only to domestic clients but also to distinguished global client companies.

In the next episode of our global blog’s Global EVI Forum series, we will introduce the in-depth explanations of each forum session and interviews with our client companies. So, please stay tuned with us!

Do you remember Renault’s concept car, ‘EOLAB’ which was showcased at the 2014 Paris Motor Show and introduced in the previous series of our global blog? Running 100km with only 1L of fuel, this amazing car ‘EOLAB’ contains POSCO’s light vehicle steel plate. POSCO and Renault collaborated in the ‘EOLAB’ development project in order to lead the way of vehicle weight reduction throughout the automobile industry. Let’s take a look at an interview with the two key contributors of the ‘EOLAB’ project, Shin, Seung-jun, the Manager of Steel Solution Center and Dr. Lee, Hong-woo, the Principal Researcher of POSCO.

How Do You Feel About Promoting ‘EOLAB’ At The Paris Motor Show As A Partner Of Renault?

Dr. Lee: This year’s Paris Motor Show was a great opportunity to show the excellence of POSCO’s technology to the world. I believe that it was exceptionally special because the collaboration represented Renault’s firm trust in POSCO. Also, through this project, POSCO and Renault signed additional agreement to co-develop light vehicle body and automobile chassis solution for the next generation. Therefore, we are looking forward to establish the full range of EVI network in the upcoming future.

△(Left) Kim, Ji-yong, the head of POSCO Steel Solution Center, (Right) Remi Bastien, the head of research, advanced studies and materials at Renault

Manager Shin: As I participate in the project, I was able to experience the power of POSCO’s solution marketing. It seems that POSCO was able to create the positive results with its exceptional behavior to bestow devotion even to small components while supplying materials and application technology. I hope that this project could set an example for POSCO EVI activity and solution marketing so that it could contribute to the expansion of POSCO’s prospective relationships with client companies.

We Heard That The Worldwide Media Had Shown Their Strong Interests At The POSCO Booth. How Was The Overall Response Of The Press?

Manager Shin: During the promotion period, 103 journalists from 26 different countries had visited our booth and showed their fervent interests. They were especially interested in POSCO’s weight reduction materials. So, we displayed several cylinders of same volume but with each different steel materials so that they could take a closer look at our weight reduction materials. The journalist at our booth displayed interest in the weight difference of each cylinders. It was definitely an important opportunity to draw spectators’ attention to POSCO’s steel materials.

Could You Describe The Development Process Of The Spotlighted ‘EOLAB’?

The relationship between POSCO and Renault goes far back. In 2012, POSCO had signed a joint development agreement with Renault-Samsung. This year, POSCO participated in the ‘EOLAB’ production project with the French automaker, Renault. To be honest, there were quite many differences working with the local staffs of Renault due to the language and geographical difference between France and Korea.

However, these problems were easily solved as Dr. Lee flew to Paris for long-term stay during the project. Although Dr. Lee and I were far apart, our teamwork was more than excellent. As Dr. Lee collect VOC of Renault and send it to Korea, our research team and I would build upon the given data and suggest a solution to Renault. As you might know, there is a seven-hour time difference between Korea and France. I used to call Dr. Lee in Paris 4PM every day to check our work process and put plans into practice.

We Heard That There Was A Special Tip To Improve Job Performance. Could You Share The Tip With Us?
Dr. Lee: The cooperation with Manager Shin could be defined with two keywords: ‘Trust’ and ‘Conservation’. Manager Shin trusted me in terms of technical aspect and I trusted him with specific process management in return. I believe that this mutual trust contributed to ‘speed-up’ aspect which was one of the expectations and demands of Renault.

In fact, one of the aspects that I am proud of, is the ‘One-day feedback’ system. As Renault passed the VOC and other related issues to Manager Shin in the morning (afternoon in Korea), the Korean staff held an urgent meeting and were able to receive POSCO’s official response in less than 24 hours. I am sure that this timely reaction had a big part in the POSCO-Renault trust-building process.

Did you enjoy the stories of the key members of POSCO automotive steel plate EVI activity? The duo of Manager Shin and Dr. Lee really showed us a great harmony despite of distance and time difference. Until POSCO’s automotive steel plate is applied to every global automobile companies, POSCO markers will continue their efforts to expand POSCO’s presence in the worldwide spectrum.

]]> https://newsroom.posco.com/en/2014-paris-motor-show-posco-last-episode-posco-participates-malaysias-proton-technology-day/ Thu, 16 Oct 2014 19:56:17 +0000

As 2014 Paris Motor Show is still on the show, car fanatics around the world are continuing to devote their attentions to the automobile industry. For today’s last episode of our globalblog’s 2014 Paris Motor Show series, we would like to share another context of POSCO’s engagement in the automobile industry. Recently, POSCO participated in an automobile event in Malaysia. Let’s find out about POSCO’s activity in the event!

POSCO’s Participation in Malaysia’s ‘PROTON Technology Day’
Over the course of 2 days in Malaysia from September 27^th to 28^th, POSCO participated in the PROTON Technology Day for the first time in Southeast Asia. PROTON, headquartered in Kuala Lumpur, Malaysia renowned for its strong automobile manufacturing business in Southeast Asia, hosted this technological event and invited a number of world-famous technology giants, including Bosch and 3M, and over 25 other automobile-related electronic components manufacturers of the automobile industry. Despite the fact that POSCO was the only company invited globally from the steel industry, it was highly praised for its technological breakthroughs,  super strength steel such as PosM Steel or Aluminum Plated HPF, and a wide range of various automobile parts from the audience.

POSCO, the ‘Solution Provider’ powered by EVI Program and PROTON Automobiles
Through this opportunity, POSCO emphasized its competitiveness as the world-leading steel manufacturer and actively promoted itself as the ‘Solution Provider’ by introducing the EVI program that supports developments of new cars and relevant technologies for its clients. Regards to POSCO’s presentation at the PROTON Technology Day, PROTON’s CTO Mr. Rashid stated that, “I was deeply intrigued by POSCO’s effort to support technological breakthroughs in automobile industry through the EVI program and I hope we can build a stronger corporate relationship with POSCO concerning joint technological development for the new cars”.

At the PROTON Technology Day, board members of POSCO held a business meeting with the CEO Mr. Harith from PROTON to discuss how both parties could mutually enhance the corporate relationship. Furthermore, both corporates held an in-depth discussion session on the 26^th to review potential technical exchange gathering programs for board members of the two companies to achieve joint technological development in more effective and efficient manner.

POSCO in Malaysia
POSCO saw a big potential in the local steel market for automobiles and appliances in Malaysia and has been aggressively investing in Malaysia for the past years. Accordingly, POSCO currently operates POSCO-Malaysia that manufactures electronic galvanized steel sheet, POSCO-MKPC that acts as a processing center for steel products, and POSCO-South Asia Kuala Lumpur Office in Malaysia.

To briefly introduce, POSCO-MKPC is a steel-processing center located in Selangor, Malaysia that operates 2 separate processing factories that account for processing 100 and 120 thousand tons of steel per year respectively; POSCO-Malaysia is responsible for operating manufacturing factory that produces approximately 18 thousand tons of steel products per annum. By operating these facilities, POSCO aims to expand supply and clients by providing high-quality steel products to the Malaysian market.

Though 2014 Paris Motor Show will be closing on the 19^th this month, we hope all of our POSCO fans to maintain the interests in POSCO in the automobile industry. We will continue to post more content on POSCO’s technology in various fields of industries, so stay tuned for our next series!