Upon completion, the Green Iris will transport limestones from the port of Donghae in Gangwon-do to Gwangyang Works from the beginning of 2018.

POSCO’s high manganese steel allows the fuel tank to withstand temperatures as low as -196℃, so that it can store and transfer LNG. Moreover, it is highly weldable and cost-efficient compared to other common materials for LNG fuel tanks such as nickel steel or aluminum alloys.

POSCO developed the technology for its high manganese steel after 10 years of research since the late 2000s. Now, it is one of POSCO’s leading World Premium Products (WPP). Due to strengthening environmental regulations worldwide on emissions of sulfur oxides, nitrogen oxides and carbon dioxide from vessels, demand for high manganese steel for LNG tanks are expected to increase dramatically.

Cover photo courtesy of Gas Asia Summit.

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.

The Korean National Para Ice Hockey Team playing against the U.S. national team in 2014 (Source: Aljazeera)

Para ice hockey, previously called ice sledge hockey, may not be common to everyone, but many consider it the highlight of para-athletic events. A team is composed of athletes who have a physical impairment in the lower part of their body, so instead of wearing skates, they glide through the rink on ice sledges (also known as sleds).

Watch any para ice hockey match, and it will be surprising to see that there is as much, if not more physical contact than regular ice hockey. Although these athletes may be limited in their everyday movement, on ice, they appear to be flying on their sledges.

The thrill and intensity of the sport are just some of the reasons why steel-company POSCO continually supports the Korean national team and para-athletics in general. It is also why POSCO joined the mission to create specially-made sledges for the Korean National Para Ice Hockey Team.

Ice Sledges Make or Break the Match

Due to the nature of the sport, the sledges have to withstand various forms of physical contact such as body checking. They also have to move in complete unison with the players, almost like an additional limb, because it determines the player’s’ steering and control of direction.

So, the sledges have a direct impact on performance.

Some members of the Korean national team have been playing for over 18 years, and they know better than anyone the importance of their sledges in relationship to performance and results. Ideally, a sledge has to be light yet strong, able to absorb shock from external contact and fit the athlete’s body perfectly.

A Korean National Para Ice Hockey Team player fights for the puck during a game against Japan.

All of the sledges the Korean ice hockey team used were previously imported from Canada. The sledges were heavier and often could not withstand harsh contact. On average, 5 to 7 sledges were damaged during a game and required repair work.

That’s why Massive Blade, a company that specializes in ice sports equipment, decided to make the sledges domestically in Korea. When POSCO heard that Massive Blade was looking for a light and strong material to build the sledges out of, researchers jumped on board the mission to produce these new and improved sledges.

The First Domestic Sledge, Built with POSCO’s Technology

This first-of-its-kind sledge was made with POSCO’s new high-strength magnesium alloy, high-manganese anti-vibration steel and stainless steel. Meaning, they replaced the heavy aluminum alloys that made up the previous sledges with POSCO’s advanced materials.

Magnesium

Magnesium has a high specific strength (also known as the strength-to-weight ratio) and is about two-thirds lighter than aluminum. The downside is that it is challenging to mold, so it is not widely used despite its phenomenal lightweight and specific strength qualities. This is where POSCO’s Research Institute of Industrial Science & Technology (RIST) stepped in to provide a solution

RIST has been researching magnesium and its production technology for application in mountain bike frames and car frames for 3 years. As a result, RIST also owns the necessary equipment and machinery for processing and producing magnesium parts. In order to develop their technology for processing magnesium, RIST researcher Lee Mok-Young said they had to first identify the characteristics of the material, maintain the proper heat treatment temperature and optimize the accompanying tools for molding magnesium. The molding tool is a new, innovative technology that ultimately decides whether magnesium can be shaped into the necessary parts.

RIST researchers came up with a processing technology to increase the moldability of magnesium

When the processing technology is applied to magnesium, it results in a material that is approximately twice as moldable as regular magnesium. As a result, magnesium was able to be applied to sledges for the first time ever.

High-Manganese Anti-Vibration Steel

High-manganese anti-vibration steel is another material that helped enhance the sledges. They applied it to the parts of the sledge with the most exposure to contact such as the front bar and bucket brackets to prevent injuries as well as to minimize structural deformities. High-manganese anti-vibration steel is widely used in buildings for shock absorption, and according to Kim Sung-Gyu, director of the Gwangyang Steel Commercialization Promotion Team, the anti-vibration properties of the steel make it possible to contain vibrations from external force within the metal. This means less shock is transferred to the players, minimizing the risk of injury.

A technician applies high-manganese anti-vibration steel to the front bar

Stainless Steel

Finally, POSCO’s stainless steel was applied to the sledge blades. There are two blades at the bottom of every sledge, and each blade is 3mm thick. It is important to use high-strength steel so that the thin blades can stay sharp and carry the weight of the sledge and player throughout the whole game. Plus, the blades have to hold the frame 8.5cm to 9.5cm above the ice so that the puck can pass through freely under the sledge. The length of the blade also cannot exceed one-third of the total length of the sledge.

Stainless steel blades are sharpened and reattached

That’s a lot of work for just two blades, and that’s why POSCO’s stainless steel was applied. Besides the fact that it has optimal high-strength, hardness and ductility qualities, stainless steel is corrosion resistant, an important factor for blades constantly exposed to water and ice.

Korea’s National Para Ice Hockey Team Gets Wings

Aside from choosing the right materials, POSCO’s RIST researchers spent the most time trying to understand the difficulties and discomfort the para-athletes face on the sledges. It is true the sledges have to be light and strong, but there are further limitations to gauge precise movement and direction during an intense and dynamic game.

That’s why the researchers scrapped the project in its final stages multiple times to start over. During the process, they made numerous models and constantly talked with the players, coaches and the director. Not only that, the RIST researchers also consulted POSCO’s engineers about technical issues related to the materials. The finished product is really the accumulation of intensive research and running back and forth between the rink, the RIST research lab and POSCO offices.

National team members are adjusting to the new, upgraded sledges

The result of their collaboration is a sledge that is 34 percent lighter and capable of absorbing greater shock than the previous sledges.

The players are already adjusting to their new equipment and it won’t be long until they can test them out in an actual match. POSCO will continue to support para-athletes and the Korean National Para Ice Hockey Team so they can focus on their intensive training without worrying about sledge malfunctions and injuries.

TO (a safe) VICTORY!

Cover photo courtesy of Team USA Hockey.

POSCO began research & development for this technology in 2013 and invested a total of KRW 55 billion. After POSCO Technical Research Laboratories completed the initial testing, the equipment was transferred over to the Plate Rolling Department at Gwangyang Works for production.

Normally, high manganese is produced by melting solid manganese iron. When the solid manganese alloy iron is injected into a converter (a large container for storing molten iron), the temperature of the molten iron is lowered and then increased again. This leads to additional energy costs and extends the process time. In addition, with this process, refractories in the converter start to wear away as manganese oxide is generated in the process of melting.

To make this process more efficient, POSCO built PosLM (POSCO Liquid Manganese), its own special facility that is capable of storing molten manganese iron.

POSCO has already applied its own high-manganese steel in the oil sand slurry pipes for ExxonMobil, the world’s largest oil company. Also, because of its excellent durability, POSCO also plans to apply its high manganese steel to the inner parts of industrial power transformers and liquefied natural gas (LNG) tanks.

From planning to production, the successful development of the high manganese steel production technology came about as a joint collaboration between POSCO Technical Research Laboratories, steel mills, and POSCO M-tech, the company’s material development unit. This technology received the Innovation Award at the 2016 POSCO Family Technology Awards.

Don’t miss any of the exciting stories from The Steel Wire – subscribe via email today. 

POSCO CEO Ohjoon Kwon (left) shakes hands with Tom Schuessler, president of ExxonMobil Upstream Research Company, at the signing ceremony between ExxonMobil and POSCO.

ExxonMobil, the world’s largest oil company, upholds strict standards when choosing materials, and for the last five years has been working with POSCO to manufacture and test slurry pipes at worksites. Last year, a 1.2 m long slurry pipe – made with POSCO’s high manganese steel – was installed at ExxonMobil’s Kearl Oil Sands Project in Canada. It demonstrated a resistance to wear five times higher than conventional materials.

With its abrasion-resistant properties, POSCO’s high manganese steel can greatly reduce overall operating costs and increase oil production. “Seamless collaboration has led to the quick commercialization of this new high manganese steel technology, which will set a new standard for oil sands mining operations,” said Tom Schuessler, president of the ExxonMobil Upstream Research Company, who attended the ceremony.

POSCO and ExxonMobil employees pose for a commemorative photo shoot after inking a high manganese steel supply contract at the POSCO Center.

In response to president Schuessler, CEO Kwon suggested furthering their partnership by utilizing high manganese steel in various other businesses within the oil sands industry.

POSCO also plans to use its high manganese steel in the making of heavy construction and bulletproof military equipment as well as steel pipes and facilities to move various minerals including oil sand slurry.

Don’t miss any of the exciting stories from The Steel Wire – subscribe via email today. 

As cities around the world grow ever more crowded and city planners try to rein in urban sprawl, people are increasingly turning to apartment buildings for their homes. But while apartment complexes have many conveniences and advantages, one drawback is often noise, as everyone needs to deal with the footsteps and other sounds of life going on in the apartment above. Or, rather, that was a drawback.

POSCO has now introduced PosCoZy, a unique flooring system to combines manganese Z-clips with continuous galvanized steel plates to create floors that greatly reduce impact noise, save space and lower costs.

Leading Noise Reduction

Manganese Z-clips have four times higher resistance to vibrations than general steel. Combined with POSCO’s continuous galvanized steel plates, the PosCoZy flooring is able to significantly reduce the impact noise between floors in apartment buildings.

PosCoZy is the first floor system to receive a First Class silence rating from Korea’s industrial rating agency. This vibration-dampening reduces the sound of typical walking from 50 decibels to just 40dB, while impact sounds are lowered from 58dB to 38dB. In other words, PosCoZy is able to turn the noise levels produced by running children into something more akin to the quiet you’d expect in a library.

This manganese steel floor plating is also good for remodeling old structures, even those more than 15 years old with thin flooring, producing 4^th Class Noise Absorption Performance.

Space Savings for Improved Efficiency

In apartments, space is usually at a premium – not sure floor space, but vertical space as well. Thicker floors mean less spacing for living in. However, PosCoZy is thinner than typical flooring, reducing floor thickness by 15 millimeters.

In addition, the manganese Z-clips that support the galvanized steel plating create open spaces under the floor, creating room for piping, LAN cables or other wiring to run. Furthermore, the strength of the steel plates as flooring increases the floor’s capability to hold heavy loads, lasting longer without deformation.

More Economical, to Save Money

A third important advantage of PosCoZy is that it’s economical. The air layer formed in PosCoZy, along with heat insulation, prevents thermal loss and improves heating speed, improving the thermal capabilities. All together, that translates into savings in heating costs, which saves people money.

Silent, efficient and economical – those are the remarkable advantages that POSCO’s exciting new innovation in steel flooring offers builders and consumers. For more information about all the advantages of PosCoZy and high manganese steel flooring, check out the full video below:

POSCO’s High Manganese Steel Floor Plate Wins the Jang Young Sil Award for Its Vibration-Resistant Qualities

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