POSCO’s cultural complex Park1538, first introduced in Pohang in 2021, has now officially opened in Gwangyang — this time under the name “Park1538 Gwangyang.” The facility officially opened on April 3 and began welcoming the general public on April 14. Park1538 Gwangyang consists of a promotion hall, art museum, and education center. Today, we explore the key highlights of the Art Museum and Education Center at Park1538 Gwangyang.

The POSCO Art Museum Gwangyang is located on the first and second floors of Park1538 Gwangyang. It is a space planned to bring a wave of culture and art to the city of light, Gwangyang. POSCO aims to expand the region’s cultural infrastructure through high-level art exhibitions in the future.

The museum’s inaugural exhibition is titled “Journey of the LIGHT.” To mark the 33rd anniversary of the full completion of Gwangyang Works, 33 selected pieces from the POSCO Group art collection are on display.

The exhibition is divided into two parts: Part 1, themed “The Light Within,” showcases representative works of Korean abstract painting. Part 2, themed “The Light of Nature,” features bright, warm landscapes filled with natural beauty.

The final stop is the education center. The education center is themed around POSCO’s innovation journey, titled “Innovation Wave.” Approximately 1,430 tons of POSCO steel, including PosMAC, were used in the construction materials. The building’s design was inspired by the bamboo groves of Gwangyang’s Maehwa Village, creating a warm and open space for creativity and communication.

Inside, the center is divided into two main areas: the Leadership Education Center, focused on theoretical learning, and the Technical Training Center, centered on practical skills. Spanning from the basement level to the third floor, the facility houses 26 classrooms and can accommodate up to 1,155 trainees. Additional facilities include a staff cafeteria with 150 seats and a Paul Bassett café.

One of the most eye-catching features of Park1538 Gwangyang is the bold architecture of its promotional hall and education center. Beyond the buildings lies another highlight—the landscaping. Designed to harmonize with the architecture, the surrounding landscape was planned to offer a variety of colors throughout the seasons.

Let’s take a look at the large tree in front of the education center. This is a silver osmanthus, which serves as a symbolic centerpiece of Park1538. A tree species commonly found in Korea’s southern regions, the silver osmanthus blooms with silvery flowers in autumn and spreads its fragrance far and wide. This particular tree was transplanted from the grounds of an old school in Jeollanam-do. Estimated to be over 50 years old, it shares a parallel history with POSCO’s long-standing growth. Once a guardian of a place of learning, the silver osmanthus will now continue to grow at the heart of POSCO’s new foundation for nurturing talent.

Another key feature is the Steel Planter Box. Created in collaboration with the Gwangyang Works Maintenance Technology Department, it looks like a massive stone but is actually a repurposed steel block. It was dropped from a 25-meter height over several years in the steel yard to crush industrial sludge, gradually forming its current shape. Its rugged yet resilient form reflects POSCO’s own spirit—one of challenge, persistence, and transformation through adversity.

POSCO’s cultural complex Park1538, first introduced in Pohang in 2021, has now officially opened in Gwangyang — this time under the name “Park1538 Gwangyang.” The facility officially opened on April 3 and began welcoming the general public on April 14. Park1538 Gwangyang consists of a promotional hall, art museum, and education center. Among them, the promotional hall is designed to fill the city of light, Gwangyang, with a wave of culture. Shall we explore the main highlights of Park1538 Gwangyang’s promotional hall together with the POSCO group Newsroom?

Now, let’s officially begin our tour! As you enter the first floor of the promotional hall, you’re welcomed by a massive media wall measuring 10 meters tall and 4 meters wide. Beyond this Welcome Wall, visitors step into the Immersive Theater, where they experience POSCO’s story of sustainable steel.

Inside the Immersive Theater, visitors experience the transformation of iron ore through a powerful four-sided projection mapping show. The journey begins as iron ore, the source of steel, combines with the four classical elements and is ultimately forged into steel. Steel continuously builds the world and returns to nature, completing an endless cycle. Through interactive video that responds to visitor movement, viewers feel as if they are directly participating in steel’s journey.

In the Theme Hall on the first floor, visitors can view the artwork “STAR” by artist Jeong-hwa Choi. Inspired by the dynamic boiling of iron at its melting point of 1,538°C, the sculpture is composed of 1,538 stainless steel spheres. Like the “Smart Light” sculpture outside the promotional hall, this piece is also made of POSCO STS316 stainless steel.

As you head up to the third floor of the promotional hall, you are greeted by the “Memory of Steel” History Zone. Here, visitors can explore POSCO’s bold challenge of building a steelworks from barren, undeveloped land—told through historical photographs, videos, and archival materials. From the early construction of the Pohang and Gwangyang Works to the present day, this exhibit highlights the strength and perseverance of POSCO’s journey.

While walking through the History Zone, visitors will also encounter “The People Who Make POSCO.” This interactive space allows visitors to search for current POSCO employees who are actively contributing to the company’s history. By entering the name of a current employee, their photo and department will appear on a large screen. It’s a fun and meaningful way to look up family members, friends, or colleagues who currently work at POSCO. In addition, a POSCO Hall of Honor is located within the same zone, where visitors can learn about individuals who have made significant contributions to the company’s growth and legacy.

Next, you enter the “Present of Steel” Steelmaking Process Zone. Here, working models of each production stage, along with synchronized video displays, offer a vivid and realistic experience of how steel is made. After passing through the vivid Steelmaking Process Zone that feels like stepping into a real steel plant, you enter the Transition Area, where ships loaded with POSCO’s steel cut through the sea and head out into the world.

You then continue to the “World of Steel” Product Display Zone. In the Product Display Zone, visitors can explore POSCO’s products and technologies applied in everyday life. In the first area, visitors encounter steel applied in various fields such as renewable energy, shipbuilding, energy terminals, and future smart cities.

In the second area, visitors can experience POSCO’s innovative steel up close. Visitors can watch a robot-arm performance that presents POSCO’s development of eco-friendly automotive steel and solutions—flagship products of Gwangyang Works.

The third area presents the uses of steel in everyday life—including home appliances, furniture, and objects made from PosART, stainless steel, and other specialty materials.

After completing the tour from the Beginning of Steel on the first floor to the Product Display Zones on the third floor, visitors are guided to the final destination—the “Vision of Steel” Vision Theater, where they can watch POSCO’s brand film. In this space, a panoramic wide screen measuring 15 meters in width and 3.93 meters in height delivers a vivid and immersive experience of the passion of POSCO employees, the birth of steel, and the convenient world made possible through steel. It also offers a glimpse into POSCO’s future, moving forward together with its stakeholders.

In the next article, Part 2, we’ll introduce the key highlights of the art museum and education center at Park1538 Gwangyang—so stay tuned!

▼Park1538 Gwangyang X Lia Kim Watch the video (click)

Gwangyang, once an industrial city, transforms into a tourist destination through Park1538 Gwangyang and the Gubongsan Mountain experiential sculpture

POSCO Group Chairman In-hwa Chang : “An open cultural space that envisions the future together with the local community”

The second Park1538, following Pohang — an immersive journey through the world of steel guided by the light wave

Gwangyang, the city of steel and light, is being reborn as a premium cultural city.

On June 3, POSCO opened Park1538 Gwangyang and embarked on a journey of light, where culture and industry coexist with the citizens of Gwangyang.

Park1538 first made its appearance in Pohang four years ago. The name Park1538 is made by combining Park, a space that embraces people, and 1538, the Celsius melting point of iron. It symbolizes the beautiful moment right before iron becomes something else and the passion of POSCO employees.

The blazing flame that was ignited in Pohang has now continued in Gwangyang as a new light wave. Park1538 Gwangyang consists of a promotional hall and an education center. To allow visitors to enjoy high-quality culture and art, the POSCO Art Museum Gwangyang has also been introduced within the promotional hall. As the opening exhibition, “Journey of the LIGHT” is being held, and to commemorate the 33 years since the full completion of POSCO’s integrated steelworks a quarter-century ago, 33 artworks have been carefully selected from the POSCO Group’s collection for display.

▲A group photo was taken at the Park1538 Gwangyang opening ceremony (From left: Hee-min Jeong, President of POSCO E&C; Kyeong-geun Lee, Head of Yeosu Employment and Labor Office; Dae-won Choi, Chairperson of the Gwangyang City Council; Seong-ho Kim, Chairman of the POSCO Labor Union; In-hwa Jeong, Mayor of Gwangyang; In-hwa Chang, Chairman of POSCO Group; Hyang-yeop Kwon, Member of the National Assembly; Chang-hwan Park, Vice Governor of Jeollanam-do for Economic Affairs; Hee-geun Lee, President of POSCO; Tae-kyun Kim, Chairperson of the Jeollanam-do Provincial Council; Jin-man Park, Director of the Korea Industrial Complex Corporation; Chul-geun Kim, Representative of the POSCO Labor-Management Council).

The opening ceremony was attended not only by POSCO Group Chairman In-hwa Chang, POSCO President Hee-geun Lee, POSCO E&C President Hee-min Jeong, POSCO Labor Union Chairman Seong-ho Kim, and POSCO Labor-Management Council Representative Chul-geun Kim, but also by key regional figures such as National Assembly Member Hyang-yeop Kwon, Vice Governor of Jeollanam-do for Economic Affairs Chang-hwan Park, and Gwangyang Mayor In-hwa Jeong.

In his commemorative speech, Chairman In-hwa Chang said, “To realize the tomorrow we dream of, it is more important than anything else to gain support from stakeholders including the local community.” He added, “I hope this will become an open, premium cultural space that reflects the past, present, and future that POSCO and the local community have built together.”

POSCO plans to link Park1538 Gwangyang with the experiential sculpture currently under construction on Gubongsan Mountain, tentatively named “Beacon of Eternity,” and develop it into a landmark of the Gwangyang region. In addition, the company will continue close cooperation with Gwangyang City to attract more visitors by connecting Park1538 Gwangyang with the city’s main tourist destinations such as Maehwa Village and the Okryongsa Temple Site Camellia Forest.

In 2021, POSCO enhanced Pohang’s standing as a tourist city by establishing Park1538 and the experiential sculpture “Space Walk.” Based on that experience, POSCO now aims to transform Gwangyang—a city of steel and logistics—into a sophisticated city where culture and industry coexist, through collaboration with the local government and residents.

Park1538 Gwangyang operates on a reservation basis. Starting April 14, anyone can visit free of charge via the official website (http://park1538.posco.com). A visit takes approximately 60 minutes. The art museum offers docent-led programs twice daily at 11:00 AM and 3:00 PM, and general admission is available without a reservation.

▲Park1538 Gwangyang promotional hall exterior.

▲Park1538 Gwangyang promotional hall exterior(front).

▲Night view of Park1538 Gwangyang promotional hall.

Achieved a self-sufficient system spanning ‘raw materials, semi-finished products, and cathode materials’ amid global policy changes

Secured POSCO Group’s supply chain for high-purity nickel sulfate, a key precursor raw material, following lithium

POSCO Future M has completed its Gwangyang precursor plant with an annual production capacity of 45,000 tons.

Through this achievement, the company has secured the in-house capability to produce precursors, a key raw materials for cathode materials, thereby strengthening its supply chain competitiveness.

POSCO Future M held the completion ceremony for its precursor plant at the Yulchon Industrial Complex in Gwangyang, Jeollanam-do Province, on the 10th.

The event was attended by approximately 70 officials, including POSCO Future M President Gi-chen Eom, POSCO Holdings Business Synergy Division Head Seong-rae Cheon, Gwangyang Mayor In-hwa Jeong, Gwangyang City Council Chairman Dae-won Choi, and Gwangyang Bay Area Free Economic Zone Authority Commissioner Chung-gon Koo.

In his commemorative address, POSCO Future M President Gi-chen Eom stated, “Following the establishment of POSCO Group’s nickel supply chain, the completion of this precursor plant has achieved a self-sufficient system spanning ‘raw materials, semi-finished products, and cathode materials.’ Amid global supply chain policy fluctuations, the Gwangyang precursor plant will contribute to strengthening the competitiveness and growth of Korea’s battery industry.”

POSCO Future M’s Gwangyang precursor plant was constructed on a total area of 22,400㎡ (approximately 6,800 pyeong) within the existing Gwangyang cathode material plant site, with an annual production capacity of 45,000 tons of precursors. This represents sufficient volume to manufacture batteries for 500,000 electric vehicles. All precursors produced here will be used for cathode material manufacturing for Ultium Cells.

A precursor is a general term for the stage before a substance becomes the desired structure; in the battery industry, it refers to the material stage before becoming cathode material. Precursors consist of nickel (Ni), cobalt (Co), manganese (Mn), and other elements, and are sent to cathode material plants where they combine with lithium (Li) to become cathode materials.

With this plant completion, POSCO Future M can now directly produce large quantities of precursors, enabling more rigorous cathode material quality control. Precursors are considered a critical factor determining cathode material performance, as their characteristics change according to raw material composition and production methods, with impurity management being crucial.

Through precursor self-sufficiency, POSCO Future M has strengthened its supply chain competitiveness even amid global policy changes. According to energy market research firm SNE Research, Korea’s dependence on Chinese imports for precursors exceeded 90% as of March this year. Using Chinese precursors means that batteries sold in the U.S. market starting this year are subject to Foreign Entity of Concern (FEOC) regulations and cannot receive IRA tax credits. While recent U.S. House tax reduction bill initiatives have created significant policy uncertainty regarding IRA tax credits, regulations on Chinese supply chains are strengthening with the addition of prohibited foreign entity requirements, making precursor supply chain independence essential.

In this context, POSCO Future M has further enhanced its supply chain competitiveness by receiving nickel, a key precursor raw material, from within the POSCO Group. Specifically, POSCO processes non-Chinese nickel raw materials into high-purity nickel sulfate, supplying it to POSCO Future M’s precursor plant. Additionally, POSCO HY Clean Metal supplies nickel sulfate recovered through recycling to POSCO Future M.

Previously, the POSCO Group achieved independence in its lithium supply chain. POSCO Future M is expected to gain advantages over competitors through stable lithium supply from POSCO Pilbara Lithium Solution using Australian ore, POSCO Lithium Solution utilizing Argentine brine, and POSCO HY Clean Metal extracting raw materials from waste batteries.

Meanwhile, POSCO Future M is actively pursuing regional job creation through expanded investment in Gwangyang. The company operates both its Gwangyang cathode material plant and precursor plant, employing approximately 700 employees. Construction is also underway on a dedicated high-nickel NCA single-crystal cathode material plant with an annual capacity of 52,500 tons on nearby land, contributing to employment creation in the local construction industry, with additional hiring planned for plant operation personnel after completion.

In the future, POSCO Future M plans to accelerate its leap toward becoming a global top-tier secondary battery materials company by further strengthening its supply chain competitiveness in response to market changes and customer demands, while concentrating its capabilities on research and development and product portfolio expansion.

▲Ceremony participants lighting a sphere representing precursors at the POSCO Future M Gwangyang precursor plant completion ceremony (from fourth from left: Gwangyang Mayor In-hwa Jeong, POSCO Future M President Gi-chen Eom, POSCO Holdings Business Synergy Division Head Seong-rae Cheon, POSCO Future M Labor-Management Council Representative Young-hwa Kim).

▲POSCO Future M President Gi-chen Eom delivering his commemorative address at the Gwangyang precursor plant completion ceremony.

1. #Winning – competitiveness and sustainability

POSCO was recently named the world’s most competitive steelmaker for the eighth consecutive year by World Steel Dynamics (WSD). POSCO again took home the gold with the highest scores in five categories including innovative technology, cost reduction, skill level of labor, restructuring and investment environment.

POSCO is the world’s most competitive steelmaker.

Not only did POSCO come out on top for competitiveness, the company was ranked 35th among the “Global 100 Most Sustainable Corporations in the World in 2017,” by Toronto-based magazine and research firm Corporate Knights. The list was announced in early 2017 at the World Economic Forum in Davos, Switzerland. This is the third consecutive year POSCO made the list with outstanding scores in safety, environment and the salary levels of employees.

2. Joining the trillion club

POSCO entered the trillion club twice in 2017 as it recorded USD 1.283 billion (KRW 1.365 trillion) of operating profits in the first quarter, and USD 1.0581 billion (KRW 1.1257 trillion) in the third quarter based on its consolidated operating profit. Even in the midst of global oversupply and governments opting for protectionist policies, POSCO’s profits were unscathed. Much of the credit is owed to the company’s steel and non-steel affiliates overseas with strong sales performances. The consolidated debt-to-equity ratio was the lowest since 2010 and the non-consolidated debt-to-equity ratio was at its lowest ever.

POSCO recorded an operating profit over KRW 1 trillion in the first and third quarter of 2017.

To add, international credit rating agency S&P upgraded POSCO’s BBB-plus credit rating outlook to “stable” last February, and Moody’s also upgraded POSCO’s long-term corporate credit rating outlook to “positive” on October 26.

3. Everything’s bigger in…POSCO

Last June, after 102 days of repair, Pohang Blast Furnace No.3 became the world’s fifth-largest blast furnace. Its internal volume expanded from 4350㎥ to 5600㎥, allowing the super-sized blast furnace to put out 15,000 tons of molten metal daily. POSCO currently operates five super-sized blast furnaces, or blast furnaces sized 5500㎥ or larger.

Pohang Blast Furnace No. 3 under construction.

POSCO further upgraded Pohang Blast Furnace No.3 by adding in AI capabilities. It is now equipped with smart technology that can control the internal state of the blast furnace automatically, and smart sensors can now predict accidents before they happen, extending the lifespan of the furnace. Furthermore, POSCO plans to collect big data from the blast furnace and use it to develop fully smart blast furnaces in the future.

4. The smarter the better

Since his taking up the CEO position in 2014, POSCO CEO Ohjoon Kwon has repeatedly expressed his vision for securing future competitiveness through smart solutions. The company even started a smartization training course for employees and held the Smart POSCO Forum 2017 last July to share its insights and progress with clients and affiliates.

POSCO is gaining a competitive edge through smart solutions. (Source: Global Trade Magazine)

Moreover, POSCO also supported a smart talent training project customized for SMEs. The program included job training for AI and big data application technologies. Going forward, POSCO plans to build a “Smart Industry” to increase steel competitiveness and create new business opportunities with new, smart technologies.

SEE ALSO: How Factories Produce Steel- the Smart Way

5. Getting in on electric vehicles

The market for electric vehicles (EVs) is an exciting one with so many companies investing in new technologies. POSCO also hopes to extend its customized material and technology solutions to EV manufacturers. Last October, the company held the Global EV Materials Forum to showcase four of its core business areas: lightweight bodies, batteries, motors and charging infrastructure. More than 380 clients took part in the forum to learn about emerging trends and POSCO’s products and services including POSCO GIGA STEEL and commercially produced lithium batteries for EVs.

POSCO is a solutions provider for EV manufacturers. (Source: Bloomberg)

6. POSCO’s new marketing approach

For the first time ever, POSCO created and aired a TV commercial highlighting a specific product, instead of its corporate brand. This marks POSCO’s first B2C marketing effort and features the company’s innovative auto steel, POSCO GIGA STEEL. The commercial compares POSCO GIGA STEEL to aluminum, another widely-used lightweight material in a visual demonstration so that everyday drivers can better understand the benefits of a stronger yet lighter material.

7. Going for 10 million tons of automotive steel

On April 26, POSCO completed 7CGL, a new steel production facility in Gwangyang, Korea, designed exclusively for the production of POSCO GIGA STEEL. 7CGL has an annual capacity of 500,000 tons and is the world’s first plant capable of producing both 1.5 giga-level galva-annealed (GA) and galvanized (GI) steel sheets.

POSCO Completed 7CGL on April 26, 2017. (Source: Business Korea)

In addition, POSCO managed to reduce investment funds and secure cost competitiveness by designing and constructing 7CGL’s core facilities based on accumulated facility technologies and operating know-how. The 7CGL is POSCO’s 12th plant exclusively for automotive steel sheets, and POSCO aims to sell 10 million tons of automotive steel in 2018 globally.  

8. Setting new records with high manganese

POSCO became the first company in the world to commercialize the technology for producing high manganese using fusible ferroalloys. The technology took KRW 5.5 billion of research and development costs and four years to complete.

POSCO is the first company in the world to commercialize its high manganese production technology. (Source: Eramet)

The core part of POSCO’s high manganese production process is PosLM (POSCO Liquid Manganese), a special holding furnace that stores manganese ferroalloys in a fusible state. POSCO’s technology reduces the production time for high manganese steel by more than 50 percent as well as increases slab production efficiency. PosLM was jointly researched and developed by the Institute of Technology and POSCO M-tech.

9. Bringing home the lithium

On February 7, POSCO opened its PosLX (POSCO Lithium Extraction) plant with an annual capacity of 2,500 tons. The plant is the first plant in Korea capable of commercial lithium production. The technology took 7 years to perfect, but it was well worth it. The production process for high purity lithium now takes just 3 months, compared to the previous 12 to 18 months.

POSCO is making lithium extraction more efficient and sustainable. (Source: Mining)

In the past, Korean manufacturers imported the entire quantity of lithium they needed. With POSCO’s PosLX plant, partners now have access to a local supply of lithium. Moreover, POSCO plans to use lithium phosphate extracted from wasted secondary batteries as raw materials, in keeping with the company’s sustainability standards.

POSCO will continue building on a successful 2017 in the new year, by tackling new challenges and continuing to provide its partners with customized and optimal solutions in all business areas.

Cover photo courtesy of Hitech Building Solutions.

POSCO invested a total of KRW 255.4 billion and the 7CGL is expected to have an annual production capacity of 500,000 tons. By designing and constructing the plant with its own proprietary technology, POSCO was able to reduce construction costs, thereby securing cost competitiveness for its customers as well.

POSCO CEO Ohjoon Kwon and executives came together on April 26 to officially bring 7CGL online. From left to right: Seong Yu, head of the Technology and Investment Division; Shohei Yamazaki, purchasing organizing director of Renault-Nissan; Kiyoshi Kamishima, general manager of the Materials & Facilities Purchasing Division of Toyota; Jae-cheon Song, chairman of the Gwangyang City Council; In-hwa Jeong, a national assembly member; CEO Kwon; Nak-yeon Lee, governor of Jeollanam-do; Hyun-bok Jeong, mayor of Gwangyang; and Myeong-jin Seo, executive director of Hyundai & Kia.

CEO Kwon remarked, “POSCO opens up a new horizon in automotive steel with the completion of the 7CGL. This new line will allow POSCO to continue to provide differentiated products and customized solutions through smart technology.”

The 7CGL is attracting attention as one of the first plants to produce both hot-dip galvannealed (GA) and hot-dip galvanized steel (GI) at 1.5GPa  steel for automobiles. GA steel is preferred by Korean and Japanese automakers because it has excellent coatability and weldability as the coating layer is made of iron and zinc alloy, while GI steel is preferred by European automakers due to its excellent resistance to corrosion.

Previously, GA and GI steel sheets could only be produced at 1.2GPa due to surface and quality problems that occur before and after plating. POSCO resolved these problems by developing the “high hydrogen rapid cooling technology,” which forms high-intensity tissues in steel sheets before plating, and a “rapid cooling system,” which uses rapid cooling to smooth out the plated surface.

With the completion of 7CGL, POSCO now has seven operating CGLs  in Gwangyang, two CGLs in Mexico, and five CGLs in Thailand, India, and China. Through these CGLs, POSCO plans to produce 10 million tons of steel by 2018 and further solidify its status as a global automotive steel maker.

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It all started 49 years ago in a small fishing village on the East coast of Korea and has grown to be the fourth-largest steel producer in the world.

A Small Fishing Village with 39 Employees

To help rebuild the country after the end of the Korean War, President Park Chung-hee made steel production and heavy industry the centerpiece of his Second Five Year Plan (1967-1971). Despite there being no steel industry in Korea, President Park wanted to be able to manufacture steel domestically without relying on imports and foreign technology.

Opening of POSCO in April 1968

In 1965, President Park visited Pittsburgh, PA, where he gained insight into the steel industry and what would be required if Korea were to develop its own independent production facilities. One year later, Korea International Steel Associates (KISA) was formed. KISA included a consortium of eight companies from five different countries whose goal was to help Korea start its own integrated steelmaking facility. By 1967, the government approved a plan from KISA that included a basic agreement on technology & funding.

Pohang, a small fishing village on Korea’s eastern coast, was chosen as the official site of the steel mill. POSCO was officially incorporated on April 1, 1968, as a joint public-private venture with just 39 employees. Park Tae-joon came on board to serve as CEO and by May 1968, construction of POSCO’s headquarters had begun.

In May 1968 the POSCO headquarters construction had begun

Setbacks to Success  

Despite the steps taken to move Korea’s steel industry forward, there were many setbacks along the way. First, overshadowing each step of its development was the skepticism coming from both foreign and domestic fronts. Foreign investors could not understand why Korea would expand into industries it had no history with. And local leaders doubted their ability to overcome all of the technological, economic, and infrastructural hurdles facing them. To make matters worse, KISA was disbanded in September 1969 – leaving plans for POSCO up in the air.

Korean President Park Chung-hee was instrumental in getting POSCO off of the ground. Here he is at one of the blast furnaces at Pohang Works. (1976)

Determined to complete the project, President Park began negotiations with Japan who later provided the grants, loans, and technology for the construction of the initial plant. Construction of the steel mill started in 1970 and on June 9, 1973, at 7:30 am, the first steel came off of the line. By April 1974, they had decided to expand the capacity of the third furnace at Pohang Words to 5.5 million tons and the fourth furnace capacity was increased to 8.5 million tons.

Expansion

Because of POSCO’s early successes, the Korean government decided to build a second facility on the peninsula’s southern coast in Gwangyang. After the completion of the fourth phase of construction at Gwangyang, POSCO had a total of 20.8 million tons of crude steel production capacity. Of that total, Pohang was producing 9.4 million tons with Gwangyang producing 11.4 million tons. It earned the distinction of being the world’s largest steel mill and POSCO become one of the main driving forces behind the industrialization of Korea’s economy.

After its completion, Gwangyang Works was the largest integrated steel mill in the world. (1992)

In 1986, POSCO entered into a 50/50 joint venture with US Steel (UPI). Their partnership was set to develop a comprehensive modernization program that would upgrade the processes and equipment of the facility. Since the establishment of USS-POSCO Industries (UPI), POSCO has continued to branch out all over the globe. It has set up STS production plants at Zhangjiagang Pohang Stainless Steel (China) and POSCO Tai Knox (Thailand), and automotive steel plate production lines (CGL) in Mexico, India, and China. PT Krakatau POSCO was built in 2013 and was the first integrated steel mill in Southeast Asia.

POSCO Becomes the Most Competitive Steelmaker in the World

By 2014, production capacity had increased to 37.7 million tons. Pohang now has three heavy plate mills, four cold rolling mills, five blast furnaces, heavy plate mills, and four hot rolling mills. Beyond its scope and production capacities, POSCO is committed to developing advanced, high-quality World Premium Products. In addition, POSCO’s innovations in other industries, integration of smart factory technologies into the production process, and its commitment to local communities continue to push POSCO forward.

Advanced World Premium Products

With a focus on advanced steel solutions, POSCO has developed a wide range of products that can be customized to fit a customer’s unique needs. These World Premium Products are the reason POSCO has been listed as the most competitive steelmaker for seven years in a row. For example, PosMAC has been utilized in many different ways from floating solar cells to durable public art pieces. Also, POSCO’s award winning PosCozy floor plates provide soundproofing and heat insulation.

The hot rolling process at Gwangyang produces 3,400,000 tons per year

Lithium Extraction & Other Ventures

POSCO has also strengthened its global competitiveness by accelerating new businesses in the materials and energy industries. POSCO has developed a fuel cell plant that was completed in 2008, a Myanmar gas field that produces 500 million cubic feet of gas each day, and lithium extraction technology that is 10 times faster than previous methods.

Solution Marketing

In addition to manufacturing advanced, high-quality steel, POSCO’s Solution Marketing provides customers with added technology solutions and commercial support. Instead of just supplying products and stepping away from the customer, POSCO works with its customers to create customized solutions that ensure successful implementation. Partnering with manufacturers early on in the production process, POSCO has stepped beyond its role as a steel supplier and now serves as a solutions provider.

Smart Factory Technology

POSCO also incorporates cutting edge technology and innovations into its production processes. At its automotive steel plate factory in Gwangyang, POSCO introduced AI technology into its coating weight control system, improving quality and reducing waste. Also, POSCO CEO Ohjoon Kwon remains committed to developing more smart factory solutions and has been meeting with executives of other companies, such as GE and Siemens, to explore partnerships and best practices.

President Park Chung-hee comes to POSCO to celebrate the opening of Pohang Works

Someone seeing the successes of POSCO today might have a hard time understanding how it even started, much less how it was able to overcome the immense barriers it faced. POSCO continues to be a leader in the steel industry with its advanced, high-quality World Premium Products. Also, POSCO’s successes in its non-steel ventures show its commitment to remaining on the cutting edge of technological trends and industrial innovation. Watch the video below to see for yourself.

https://www.youtube.com/watch?v=nq574Ivp7c0

Since the publication of Jules Verne’s 20,000 Leagues Under the Sea in 1869 up until the dawn of today’s sci-fi thrillers such as Stargate Atlantis, the concept of underwater exploration and civilization has captured the imagination of the public. Now, facing problems like overpopulation, rising sea levels and increasing natural disasters, humanity is seeking alternative living environments, and with ever-progressing technology, life under the sea no longer seems all that unrealistic.

In fact, some small underwater habitats already exist, and we have the technology to create and maintain larger ones that could easily support human sustenance. Might it be possible that one day there will be an entire network of undersea cities, brimming with futuristic technology and advanced ways of living? And if it is, how would these sub-aquatic societies be connected? 

Undersea Tunnels, a Brief History

Undersea tunnels, the most likely method of transportation in a world submerged by water, are not a new concept. In fact, the earliest example of such engineering endeavors dates back to around 2100 BCE, when the Babylonians used a tunnel to divert the Euphrates River. It wasn’t until the 19^th century that the world saw a succession of more challenging tunnel projects, made possible by vast improvements in surveying and ventilation techniques.

The first notion of the Channel Tunnel, which connects England and France, was proposed to Napoleon Bonaparte in 1802 by a French engineer named Mathieu-Favier, but it wasn’t until the 1960s that it became a reality. Instead, London’s Thames Tunnel became the first modern undersea tunnel in 1843, taking almost 20 years to complete. The tunnel was originally designed for, but never used by, horse-drawn carriages.

Noting the comparable advantages undersea tunnels have over bridges, such as their ability to divert traffic and not be affected by external factors such as wind or rain, city planners began incorporating them into city layouts in the late 1800s. But, at the time, the methods used to construct these tunnels consisted mainly of excavating in painstakingly small increments, and were incredibly time consuming.

The game changed in 1903 with a construction project beneath the Detroit River in America when engineers used a method that involved anchoring premade sections of steel tube into a pre-dug trench on the river floor. Then, in 1971, a new era of underwater tunneling began with the construction of the Seikan Railroad Tunnel, which currently stretches 53.85 kilometers beneath the Tsugaru Strait in Japan. Instead of using the antiquated tunneling techniques of the past, tunnel builders began to utilize giant tunnel boring machines to make the process go faster. Since then, tunneling projects that could once only be conceptualized have become a reality.

The Eurasia Tunnel Project, for example, is a 14.6 kilometer-long road tunnel that will link Europe and Asia via the Bosporus Strait, and is currently in the last stages of construction. It is a project that has long been discussed and aims to reduce traffic in Istanbul, the second-worst European city in terms of traffic congestion.

Tunneling to the Future

Of course transportation tunnels like these would be vital in aquatic lands, but a sustainable undersea city would also need gas, oil, electricity and, most importantly, oxygen. Yet, some of these types of undersea tunnels exist, and are constantly being positioned across the waters of the world.

In the most recent tunnel developments, POSCO, in coordination with GS Caltex and Jeonnam Development Coorporation, has made plans to construct a 3.98 kilometer-long undersea tunnel connecting Gwangyang Port and Yeosu Industrial Complex by the first half of 2019.

POSCO Green Gas Technology will use the undersea pipe network to supply syngas produced at the Gwangyang SNG Plant to GS Caltex, which will then use the syngas for petroleum refining and enhancing processes. Furthermore, the undersea tunnel will minimize risks associated with transport and establish an efficient undersea logistics infrastructure by reducing production and logistical costs.

POSCO’s gas pipeline tunnel is indicative of what is to come. Perhaps the undersea tunnels of the future will allow for the transportation of fresh drinking water, alternative energy resources or even food sources from faraway lands. But with real-life projects concerning tunnels between Morocco and Spain, Japan and South Korea and the mainland of Canada and Prince Edward Island on the table, it is clear that such possibilities are not only realistic, but also limitless.

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I’m under a lot of pressure at the moment to make multiple big decisions that will have a deep impact in the company’s future. POSCO’s current financial structure is faced with various issues, to say the least. In order to break through this critical moment, we must manufacture and sell a lot of steel and generate a lot of profit. This need led us to our new initiative that is “Solution Marketing.” Solution marketing, in our terms, is bringing our unique hardware – steel products – and software – insights on how to use a given technology to the greatest effect – together. The idea is to secure customer loyalty by forming a sound solution with these two elements. 

Next in the line of focus is new business. I keep a look out for important new projects which seem promising for the company, and put concentrated investment on them. In addition, I focus on employees as well as new business. I always care about employees and their needs. I also think of what I can do to make my employees become happier. I do not agree that a higher income is the only thing that employees care about and want from the company. I always try to make POSCO become the best company, and that all employees are happy.

The team of Innovative POSCO 1.0, established on January 29, 2014, has been working under the new vision POSCO the Great on discovering 380 new business projects until March 14. POSCO employees engage in short term “Quick-Win” projects in stages. By cutting down the number of senior management and introducing project specialists named POSCO Certified Professionals (PCP) or an executive-level project manager, we were able to radically boost decision making speed by trimming down the organization and establish a project-based management infrastructure. In addition, a revamp in the organizational structure brought the number of divisions down from six to four, which are: Steel Business Division, Steel Production Division, Finance and Investment Division, and Corporate Infrastructure Division. We also installed the Value Management Department under CEO supervision to support the successful implementation of Innovative POSCO 1.0.

On May 16, we transferred all discovered new projects to each division, and the head of each division organized the team in charge and established detailed kick off plan to implement and discover Quick-Win assignments. The ‘Great Work Place Commission’ is taking steps to elicit real and tangible improvement in the workplace by merging and discarding certain administrative processes and education policies. Setting EVA (Economic Value Added) as a core performance indicator of POSCO and POSCO group affiliates, efforts are being made to lay the foundation for upholding company values and bolster work engagement by increasing the influence of evaluation.

Revolutionary projects that will change the future of POSCO will soon be implemented in full swing. I hope all of you will regard yourselves as the owner of POSCO and participate enthusiastically and voluntarily.

Although we have been making significant investments both domestically and internationally, sluggish return from large investments during the past few years took a toll on company value and credit ratings. Therefore, I have concentrated on ‘Innovative POSCO 1.0’ to overcome the current problematic situation and prepare the next 50 years of POSCO under ‘POSCO the Great’ since I have taken CEO position. I will change the POSCO’s management paradigm, and it is going to be the big transform from the external growth to internal growth.

Utilizing cash generated from the Chinese super-cycle, POSCO has made aggressive investments for a revival of economic growth for the past few years. Despite massive investments, however, sales and profitability in the steel business dwindled due to deteriorating management conditions. I expect the new projects will take time to be settled because all new projects are at an early stage. Under unfavorable circumstances, all employees and executives should work together to improve internal stability and secure profitability. In light of this, I am planning a full re-evaluation and revamp of POSCO group’s investment businesses.

Firstly, steel investment will prioritize on boosting core steel competitiveness by developing high value-added products, enhancing solution marketing, and establishing a global customer service infrastructure. As for global investment, businesses that are currently under review will be subject to a full-scale re-evaluation, with the main priority being the early stabilization of international production sites which had been adding a burden to the group’s financial structure. In addition, new growth business will promote future mega growth engine through select and concentration. I believe in ‘source material’ and ‘clean energy’ will be the future growth engine for POSCO under the evaluation of technology competitiveness and business fitness of what we have been working on. As POSCO has been leading national economic development with steel business which is the ‘rice for industry’, source material and clean energy business is expected to be a new engine to lead POSCO’s mega growth in the future.

For the “POSCO the Great” ideal to work, we need creative people. There are two types of the creative individual I have in mind: the Expert and the Molder. The Expert creates novel complex technology by utilizing his/her experience and knowledge accumulated throughout a long and focused devotion to a certain field. The Molder fuses professional knowledge from multiple fields to form new values. Because it is difficult for a single individual to have both qualities, we plan to select and support the growth and development of promising individuals for each type.

New employees are trained to become the Expert through the PCP (POSCO Certified Professional) program. A PCP is a talented individual who is knowledgeable of key operations/installations/control technology and is responsible for carrying out strategic tasks and solving technical issues that may emerge in the field. We plan to select experts in commerce, taxation, technical support and overseas as PCP and actively support them as key figures. Meanwhile, we are training the Molders by circulating them in various fields. The Molders are talented individuals who have work experience in various fields including operations and maintenance engineering. Additionally, we are providing education opportunities including MBA/study abroad programs, e-learning, and humanities classes for leaders. We believe that individual effort and an enthusiastic attitude are as important as organizational support. My philosophy in the development of human resources is to establish a virtuous cycle of employees becoming creative experts by utilizing their company’s programs, and their excellent work contributing to the overall increase in the company’s competitiveness.

The most rewarding work was doing focused research on automobile steel, the kind of steel which became POSCO’s lifeline since the 2000’s. I think that period was when we began to conduct “real” research which allowed us to develop unique products and improve POSCO’s competitiveness and productivity. The person who made all this possible was the RIST director Kang Chang-oh. When he was the manager of the steelworks, director Kang used to complain that “researchers are goofs who do nothing but spend money on going to overseas exhibitions.” I seriously considered changing my job when he came over as director of the research center, but he turned out to be a man with an extraordinary sense of responsibility. When he was at the field, he complained about the research center because it did not contribute much to improving the field. When he came to the research center, however, he actively sought for ways to improve the role of the research center. Director Kang and I had many conversations, and the result of our debates on which technology to develop for the future of POSCO was that we should focus on automobile steel. I believe that behind POSCO’s world-class steel today lies director Kang’s automobile steel-focused research policy.

Located at Gwangyang is the Automobile Rolled Steel Research Center, constructed in January 21, 2003. There used to be a heliport for VIPs at the façade of the research center. The problem used to be that we needed a place for an experiment lab facility to develop automobile rolled steel. While sharing ideas in a corridor with director Kang on where would be a good place to install the facility, I looked at the heliport outside the corridor and said, “That heliport would be nice.” Director Kang responded with a silent nod. The next day, he gave me a call from Seoul ordering me to get the automobile rolled steel research center built on the heliport. He had submitted a proposal and gotten approval from the president as soon as he arrived at Seoul. This is how the Automobile Rolled Steel Research Center at Gwangyang was born, and the center became the seed for POSCO’s competitiveness in the field of automobile steel today. It is indeed very rewarding.

POSCO’s technological levels have changed since the year 2000. Prior to 2000, we simply borrowed new technology from Nippon Steel or Thyssen-Krupp. Afterwards, however, we began to develop unique POSCO technology that no other company had. Unique technology is POSCO’s biggest asset in shaping future competitiveness. Products like automobile steel and electrical steel were developed after continuous research. In short, it was POSCO’s competitiveness was spearheaded by its unique technology. The pride of the researcher is to develop a unique product through single-handed research instead of simply borrowing technology. Of course, R&D alone cannot lead to the development of new technology. Mutual cooperation between the engineer at the field and the researcher is needed for a new product to actually be produced, and for that product to be sold cooperation with the marketing team is also necessary. I think such mutually cooperating system is the source behind shaping the future. POSCO’s competitiveness is the integrated and close cooperation of R&D, Manufacture and Sales.

First of all, I thank them with all my heart when I meet them at the field. They all sweat profusely while dealing with melted iron in extreme heat (1,500~1,600℃) with many unexpected risks around, and also sacrifice themselves by working in the cold weather depending on the location. If I am asked as to what I want from them the most, I always answer that I really hope every single employee to work safely. Even a trivial finger injury can make daily activities difficult. Losing one’s life is the disaster of disasters. An entire family may be affected with despair. That said, safety is the most important element. It is my hope to make a work environment that every employee can work safely. I repeat this idea over in my head whenever I go to the field and see my employees’ faces and shake their hands.

It might be an overstatement to say this is my life philosophy, but there are two guidelines that make me behave in a certain way. First of all, I always make an effort to make things better. So, I always keep the phrase ‘No pain, no gain’ in my mind. One cannot see the joy of pleasure without making an effort and experiencing how bitter it was to go through hard times. The saying always keeps me from getting lazy. In terms of personal relationship, I always keep the saying ‘People in glass houses shouldn’t throw stones.’ Everyone is different. Therefore, it always causes trouble when trying to understand others in one’s own perspective. This is the saying that I have in mind when I try to understand others in their own perspectives. Also, I aspire to be like ‘water.’ Water always changes shape depending on its container. Water is life’s fundamental element and exerts great force when focused on a singular point. This is how I want to be.

My dream is to make POSCO competitive and also a company that is much prosperous for the next generation. This might be the same to all the CEOs and also to employees. Speaking of the corporations, people tell to ‘manage the company for making the profit of stakeholders as high as possible.’ To me, I consider the role of CEO to make employees inspired and motivated to work. When employees are happy and satisfied with what they do, it automatically brings the profit to stakeholders. If every single employee at POSCO is happy and satisfied with what they do at work, POSCO will definitely be grown. In this sense, ‘the company with employees that are happy with work’ is the most elements for POSCO to be the outstanding company. I would be the CEO to make such a company.

POSCO is different from most of other corporations since our company was made by funds from a claim to Japan as a sacrifice of our ancestors. Therefore, we have to be responsible and in charge of making the way out for POSCO. I would say about three spirits to make such dreams come true. The first is the *Right Turn Spirit as the foundation of our company. *Saemaeul spirit that encouraged us to be well off when we were poor back in the days is the second one. Lastly, the phrase of POSCO ‘Resources are limited, Creativity is unlimited’ is what we should have in mind. Company only grows when something new is accomplished by creativity. Making new technology and methodology based on creativity along with new marketing strategies are specifically needed. Hereupon, everyone at POSCO shall make the greatest effort to build competitiveness of POSCO. POSCO will be developed and grown further if right turn spirit, Saemaeul spirit, and creativity are added. I sincerely hope employees of POSCO to actively participate in ‘POSCO the Great’.

*Right Turn Spirit: The ‘right turn spirit’ comes back to the time when POSCO founder Park Tae Jun was working to construct the first iron and steel mill. The name comes from his legendary saying, “It is the matter of life and death. If we fail, we’ll come out of our offices, turn right, and drown ourselves into the East Sea. We never fail. Never.”

*Saemaeul Sprit (Saemaeul Undong Movement): The new community movement for rural development in South Korea in the 1970s led by the government.