12 Years of Sustainable Excellence

In September, the Dow Jones Sustainability Indices (DJSI) once again recognized POSCO for excellence when it comes to sustainable management policies. With the award, POSCO has won DJSI recognition for 12 consecutive years, the only steel company in the world to be so honored.

In this year’s report, POSCO ranked tops among steel companies for risk management, biodiversity, social contribution and stakeholder management.

POSCO Completes Southeast Asia’s First Automotive Steel Plant

In Thailand at the end of August, POSCO held a ceremony to celebrate the completion of Thailand CGL (Continuous Galvanizing Line). POSCO CEO Ohjoon Kwon attended the ceremony, along with more than 250 VIPs and others, including Thailand’s Deputy Prime Minister and Minister for Foreign Affairs Tanasak Patimaprakorn, Minister of Industry Atchaka Sibunruang, Rayong Governor Somsak Suwansujarit, and the Korean Ambassador to Thailand Kwangil Noh.

With the annual production capacity of 450,000 tons, POSCO has expanded its product capacity for automotive steel sheets overseas to 2.25 million tons per year. POSCO next plans on establishing and extending CGL operations in Gwangyang, Korea, and China, bringing its total operations to seven lines in Korea and six lines overseas.

POSCO’s High Manganese Steel Floor Plate Wins Award for Vibration-Resistant Qualities

In August, POSCO won the Jang Young Sil Award in recognition of its special noise-proof floor plates, developed with POSCO E&C. Made with high manganese steel Z clips, PosCozy floor plating is four times more vibration-resistant than general steel, making it ideal for use in apartment buildings.

Around 150 people attended the award ceremony, including the First Vice Minister Namki Hong from the Ministry of Science, ICT and Future Planning. The award was accepted by POSCO Steel Solution Marketing Department’s Managing Director Deokrak Lee and principal researcher Youngdong Yoo.

POSCO’s Financial Picture Continues to Improve in Second Quarter

In July, POSCO announced its second-quarter financial results, with sales reaching 12.86 billion won and 678.5 billion won in operating profits. Construction and energy sales were down slightly, but steel, ICT and other materials showed improvements, with the steel sector’s operating profits up 33.1% from the previous quarter.

The company’s profit margin reached 11.1%, the highest in four years, thanks to the increased sale of high-quality steel, with 3.839 million tons of World Premium products in the quarter, up by 157,000 tons from the previous quarter.

14 Startups Nurtured at POSCO’s Latest Idea Marketplace

In July, POSCO held its 11^th Idea Marketplace, the company’s representative startup support program that helps a variety of startups develop their promising new ideas and find investors. At the latest Idea Marketplace, 14 startups were announced, joining a program where they develop their business plans and gain the help of mentors over a 10-week period.

Since 2011, POSCO has nurtured 122 startups, investing 8.5 billion won into 53 of them. The Idea Marketplace is part of POSCO’s dedication to developing a creative economy and developing jobs.

POSCO’s High Manganese Steel to Build the World Largest LNG-Powered Bulk Carrier

POSCO’s high manganese steel – independently developed for the first time in the world – is set to transform LNG-powered bulk carriers. Until now, the largest cargo capacity of Liquefied Natural Gas (LNG)-powered bulk carriers was 7,000 tons; but, due to the advantages of POSCO’s high manganese steel, these new bulk carriers being built by Hyundai Mipo Dockyard will be able to carry 50,000 tons of freight.

The high manganese steel developed by POSCO contains about 20% manganese, which allows for the construction of LNG tanks are much stronger than the previous tanks, which are usually nickel or aluminum alloys. POSCO officials say they plan on building the overseas market for high manganese steel together with shipbuilders like Daewoo Shipbuilding & Marine Engineering.

With 2016 already three-quarters done, the year is shaping up to be one of the strongest for POSCO. The world steel industry continues to try adjusting to a sometimes challenging global economic climate, but at POSCO, we remain dedicated to pursuing excellence and innovation.

Growth and Giving Back Highlight POSCO’s 2Q

POSCO Starts 2016 with Exciting News from Around the World

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Around 150 related parties attended the award ceremony held in the Maekyung Media Center, including First Vice Minister Namki Hong of the Ministry of Science, ICT and Future Planning. POSCO Steel Solution Marketing Department’s Managing Director Deokrak Lee and principal researcher Youngdong Yoo had the honor of receiving the awards as representatives of the company and associated developers.

POSCO won the Jang Young Sil Award for its noise-proof floor plate. Steel Solution Marketing Department’s Managing Director Deokrak Lee (on the right) and principal researcher Youngdong Yoo (second from right) are seen receiving the awards.

Unlike conventional flooring that uses non-steel materials such as Styrofoam insulators and rubber buffer materials, POSCO’s floor plate is developed by combining high manganese (Mn) steel Z clips – a material that is 4 times vibration-resistant than general steel – with POSCO’s hot-dip galvanized steel plate, making it capable of reducing noise between floors. The Z-shaped high manganese steel clips absorb the vibration energy applied to the floor, and thus preventing noise. Test results showed that POSCO’s high manganese steel floor plate revealed a noise level that is lower than other top grade floor plates (43㏈or lower for lightweight impact sound, and 40㏈ or lower for heavyweight impact sound).

The floor plate made of high manganese (Mn) steel was jointly developed by POSCO and POSCO E&C beginning in June 2014. After acquiring state-registered performance certification last November, POSCO is currently promoting its steel product for apartment buildings, and will increase its market share in premium housings with on-site pilot projects.

“We are currently developing technologies to apply the high manganese steel plate not only to floor plates, but also to ceilings and walls,” said Youngdong Yoo. “We plan to expand the application scope of this product to various industrial fields beyond the domestic and overseas construction markets, such as ships and home appliances as well.”

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The Korea Best Scientist Award, which was established by the MSIP and the Korean Federation of Science and Technology Societies in 2003, is given to scientists and engineers who have contributed to the advancement of the country and improvement of national welfare through their world-level achievements in research and development, and innovations in technology.

On July 13, POSCO CEO Ohjoon Kwon received the 2016 Korea Best Scientist Award from the Ministry of Science, ICT and Future Planning (MSIP). From left, Nam-ki Hong, 1st Vice-Minister of Science, ICT and Future Planning, CEO Kwon and his wife take a commemorative photograph at the award ceremony.

CEO Kwon was credited with improving Korea’s steel technology to one of the highest levels in the world

By introducing high value-added products and commercializing POSCO’s steelmaking technologies at home and abroad, Kwon received the award as recognition for spearheading these projects and establishing Korea as a major player in the global steel industry.

He led the development of new steel products (14 cases), manufacturing technologies (36 cases) and product quality forecasting models (11 cases). Additionally, he furthered research to secure advanced cutting-edge materials, such as the development of automotive high-strength steel.

CEO Kwon has also contributed to the development of domestic-related industries by providing a complete customer-oriented solution that includes assisting with product application technology, financial support and a personalized human solution.

He was highly recognized for providing POSCO with a competitive identity in the global market by leading the development of World Premium (WP) products and its own innovative technologies. He was also recognized for strengthening the foundation for overseas exports of its technologies, and for developing core technologies in new business areas, aiding in the development of future growth industries.

The entirety of the prize money is to be divided and donated, with 100 million won going to POSTECH, the Korea Engineering Academy and Seoul National University, each.

“I’m very pleased to receive Korea’s top science and engineering award as a representative of the steel industry, the traditional smokestack industry. I will strive to continuously improve the competitiveness of the steel industry that POSCO has been focusing on, and also enhance the selling performance of materials and energy sectors,” said CEO Kwon at the award ceremony.

“In order to revitalize the creative economy and help create more jobs, I’d like to donate the prize money, with 100 million won each going to POSTECH and the Korea Engineering Academy, where I am chairman, and my old school, Seoul National University,” he added.

Another recipient of this award is Professor Taek-hwan Hyeon of Seoul National University. He has contributed widely to the field of nanomaterials, establishing the world’s first method for large-scale synthesis of uniform nanoparticles. In 2008, He received the POSCO TJ Park Science prize from the POSCO TJ Park foundation for his contribution to the commercialization of nanotechnology.

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The new research facility is a huge and sophisticated project that enables researchers to probe the structure of matter at the smallest level, to observe minute substances by accelerating electrons to very high energies.

The fourth-generation Pohang Light Source is capable of generating light 10 billion times brighter than the third-generation Pohang Light Source and a quintillion times brighter than the sun. This in turn allows researchers to precisely capture movement as brief as a femtosecond (or ¹/_{1,000,000,000,000,000} of a second), which allows for examining chemical reactions and molecules in biological phenomena.

POSTECH and the Ministry of Science, ICT and Future Planning began construction on the fourth-generation Pohang Light Source in April 2011 and completed it at the end of last year. Comprehensive device testing began last October, and usage of the radiation generating facility was approved on April 12. On April 14, it succeeded in generating 6 MeV, the amount it had been designed for, equivalent to the energy generated by 4 million 1.5V batteries.

Notably, the fourth-generation light source has been able to localize approximately 70 percent of its core devices, including the electron gun (the device which generates and supplies electricity). Three-hundred Korean companies participated in constructing the Light Source—it was designed and produced by POSTECH, while small and medium-sized companies created the components.

Once the performance capabilities of the facility are confirmed by the phased testing operations by the end of this year, it will go into operations beginning in 2017. The fourth-generation light source is not only for basic research in such areas as atomic/molecular physics, surface studies, material science/chemistry and life sciences, but also applied research such as IT, new medicine development, semiconductors and medical energy.

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