POSCO GIGA STEEL –  For Automakers

POSCO GIGA STEEL is like the iPhone X or the latest Xbox or PlayStation for automakers. It’s the newest, hottest must-have item for any type of car. Automakers are constantly working to lightweight their vehicles without compromising strength to meet increasingly stringent safety and environmental regulations. In order to offer its auto partners the ultimate solution, POSCO developed POSCO GIGA STEEL, an advanced high-strength steel (AHSS) that comes in 6 different types for a variety of applications in vehicles.

POSCO GIGA STEEL can be applied to different parts of a vehicle chassis. (Source: Renault Samsung)

Applying AHSS, including POSCO GIGA STEEL, resulted in a 26 percent reduction in the total weight of a vehicle. Not only that, POSCO GIGA STEEL emits about 10 kg less carbon emissions than aluminum from a life cycle analysis (LCA) viewpoint. Plus, POSCO GIGA STEEL is about 2.1 to 3.5 times less expensive than alternative options like aluminum. It’s no surprise that leading automakers like Renault Samsung, Ssangyong Motors and GM Korea use POSCO GIGA STEEL, proving it to be the all-time favorite gift for automakers.

PosMAC- For Photovoltaic Structure Manufacturers

Solar energy is the fastest growing source of renewable energy in the world, according to the International Energy Agency (IEA). In India, solar electricity generation capacity quadrupled from 2014 to 2017 as it is the cheapest form of alternative fuel in the country. The government also plans to back the industry with USD 100 billion in investments. India is one of many countries looking to solar energy to meet their country’s environmental goals and stimulate the economy.

As a result, photovoltaic (PV) structure manufacturers around the world are working to keep up with the growing demand and gain a competitive edge with high-quality products. PosMAC is ideal for PV structures because it is highly corrosion resistant and cost-effective. Not only is the material itself lower in costs compared to other materials, PosMAC ensures a long lifecycle, decreasing maintenance costs to give manufacturers an added competitive edge. For such manufacturers, POSCO PosMAC steel is the perfect gift.

Magnesium- For Electronics Manufacturers

Magnesium is a common material in electronic devices such as laptops and smartphones. Magnesium is the perfect gift for electronics manufacturers such as LG and Samsung, as their competitiveness lies in delivering the most versatile, lightweight and convenient devices to their customers.

The Samsung Notebook 9 is one of the lightest laptops available. (Source: CNET)

Magnesium is also increasingly finding its way into the automotive industry, especially for electric vehicles (EVs), as magnesium plates and other parts allow automakers to further reduce the weight of the car. Magnesium will likely be the perfect gift for that manufacturer who is thinking ahead and always experimenting new ways to improve future models of their cars.

Hyper NO- EV Manufacturers

The market for EVs is one of the fastest growing, expected to expand from USD 27.84 billion in 2016 to USD 38.98 billion by 2021, at a compound annual growth rate (CAGR) of 7 percent. Much of the success of EVs lies in its motors that will determine the EV’s efficiency, performance and feasibility for wide-spread use. As such, POSCO came up with the perfect gift for EV manufacturers – the Hyper NO.

Hyper NO is a type of electrical steel used to make electric motors. POSCO’s new technology increases the magnetic flux density and reduces core loss of electric motors, making it the perfect gift for electric motor manufacturers looking for ultimate efficiency.

Stainless Steel Products- For Everyone

There are some gifts that satisfy just about everyone, like a gift card for the movies or the nearest cafe. It’s not super special, but it’s a safe and sure choice for anyone as it is practical and functional.

Stainless steel is the ultimate gift for manufacturers as it’s one of the most widely-used materials in the world for a variety of products including surgical tools, watches, kitchenware, buildings, pipes, artistic sculptures and plenty more. It’s literally the foundation of cities and communities all over the world, and without it, the world would not have the most basic systems in place today. Moreover, stainless steel’s non-corrosive and 100 percent recyclable characteristics make it one of the best gifts for every kind of manufacturer.

No matter the type, there is a perfect gift for every manufacturer with steel. POSCO will make sure to provide even more customized and innovative solutions for its partners and continue to “keep on giving” in the new year.

In the ten years since Apple launched its first iPhone, mobile devices have gotten bigger screens, more features, and more powerful processors – all of which translates into bigger batteries.

For consumers, battery life remains a top priority. A quick search online brings up thousands of articles written on how users can improve the battery life of their phones, tablets, and wearables, even though most of these articles offer tips and tricks that only are marginally beneficial at best.

The rechargeable batteries used in smartphones, laptops, and now electric vehicles, are made from lithium. Traditionally, lithium carbonate is extracted from brines gathered in salt-rich lakes. This method is extremely time consuming, taking anywhere from 12-18 months, and also inefficient with a low extraction rate. Since 2010, POSCO has been working to develop new technologies for more efficient, more eco-friendly lithium extraction methods. Earlier this month POSCO announced the opening of its lithium extraction plant, PosLX, in Korea that is able to extract lithium from recycled batteries. In addition, while working on the traditional extraction methods from saline lake water, POSCO has also found a way to reduce extraction time from 12 months to less than one day.

If MWC is any indication, mobile device manufacturers are going to continue to need more lithium-ion batteries, and POSCO is now well positioned to be a leader in providing lithium carbonate. In the gallery below, we take a look at some of the improvements made by the leading mobile device manufacturers.

Samsung Galaxy Tab S3

Even though Samsung is waiting until March to unpack its new Galaxy S8 smartphone, they used the opportunity at MWC to unveil the update to their popular Galaxy Tab series. The new Galaxy Tab S3 improves upon many of the features in the S2 and now comes equipped with Samsung’s S Pen Stylus. However, the 10” model includes just a 6000mAh battery. While this is a modest improvement over the Galaxy Tab S2’s 5870mAh, it pales in comparison to some other tablets like the 9243mAh battery included in Google’s Pixel C.

LG G6

LG announced its new flagship device, the LG G6, in Barcelona on Sunday. Having ditched the rather unpopular design of the G5, LG went in a completely new direction with the G6. It features a large, nearly bezel-free display, water & dust proofing, and three cameras. Last year, LG was one of few remaining manufacturers to still include a removeable battery when it launched the G5, but this year’s device drops that distinction and sees LG follow suit with a non-removable battery. To do this, LG increased the battery size from 2,800mAh to 3,200mAh, includes quick charge capabilities, and wireless charging (US models only).

Huawei P10

In 2015, Huawei’s P9 was released to generally favorable reviews. It included powerful specs with an elegant, minimalist design – and it was placed at a price range that was more affordable than many of its competitors. This year, Huawei has launched its P10 model that carries over many of the same features found on its P9. Huawei’s P9came in two sizes, one that included a 3000mAh cell and a larger one with a 3200mAh. The P10 also comes in two sizes but Huawei has decided to upgrade the size of both batteries to 3200mAh and 3750mAh respectively.

BlackBerry KeyOne

Blackberry continues to stand out as the one major manufacturer still using a physical keyboard with its new KeyOne. In efforts to extend the phone’s running time, BlackBerry included a power-efficient Snapdragon 625 processor in addition to a fairly large 3505mAh battery. Both of these together should see the KeyOne hold up against BlackBerry’s first Android phone, the Priv which included a 3410mAh battery and was listed at 22.5 hours of mixed usage.

Nokia 3310

Nokia brought some nostalgia to its announcement by releasing an update of the wildly popular 3310 phone that first debuted in September 2000. As a basic feature phone, it comes with an Opera browser, but not much else. With limited resources being used by apps and operating systems, the battery on the Nokia 3310 gives it a standby time of 31 days with a talk time listing of 22 hours.

Consumers expect to be able to go a full day without worrying about charging their phone. However, advancements in mobile technology also require more resources – forcing manufacturers to constantly find a balance between slimmer phones and an increasing drain on batteries.

As seen at MWC, the demand for lithium continues to increase, and it is expected to skyrocket as other industries, such as electric vehicles, grow. POSCO’s work on lithium extraction technology is important because we have found a way to extract lithium in an eco-friendly way that also significantly reduces time. These improvements will create a notable impact moving forward as global consumer needs for lithium-ion batteries continue to rise.

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The bottom of the Gram 15-inch – made with POSCO’s ‘E-Form’ magnesium alloy sheet

In 2015, POSCO developed the ‘E-Form’ magnesium alloy, which significantly increases magnesium’s ability to be molded at room temperature (magnesium is known to have poor forming ability at low temperatures). The alloy was applied to the bottom of the Gram 14-inch and 15-inch.

Instead of stopping with the ‘E-Form’ alloy, POSCO continued to make further improvements and rolled out its ‘E-Form Plus’ alloy which demonstrated improved formability. LG Electronics incorporated the use of the alloy into the 13, 14, and 15-inch Gram in 2017, further solidifying their partnership.

The 2017 version of Gram features a battery life of up to 24 hours, a 40% larger cooling fan against heat, a backlit keyboard for enhanced ease of use and dual-channel memory slots for more convenient memory upgrading. In addition to these improvements, the 2017 Gram laptops recorded a lower or equivalent weight compared to the existing models [940g (13.3-inch model), 970g (14.0-inch model) and 1,090g (15.6-inch model)]. The Gram 15-inch won the 2016 iF Design Awards’ Gold Award and a Red Dot Design prize, and was also named the world’s lightest 15.6-inch laptop in the Guinness World Records.

The 2017 LG “All Day Gram” (courtesy of LG Electronics’ official blog)

The growth of the entire laptop market is slowing down due to the emergence of smartphones and tablets but ultra-light and slim laptops are enjoying growth at a rate of 15% to 20%, respectively, each year. According to market research firm, Juniper Research, when Intel announced its ultra-light laptop concept in 2011, shipments of ultra-light laptops throughout the world amounted to only 3.7 million units in 2011; but in 2016, they soared to 178 million units. And in 2017, ultra-light laptops are expected to account for 42.7% of the entire laptop market.

By steadily developing customized materials and processing solutions for its customers, POSCO is working to position magnesium alloy sheets as a valuable material for a variety of mobile products.

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The event was sponsored by the CSR Research Center of the Chinese Academy of Social Science – China’s most authoritative CSR evaluation agency. They evaluate corporate social responsibility and social contribution activities, releasing a corporate public interest development index and a CSR development index each year.

In addition, on January 6, POSCO China picked up the Educational Public Service Medal from the Chinese Enterprise Development Institute, the largest public interest group in China. A total of 31 domestic and international companies were selected as winners including Panasonic, Intel, and LG. POSCO was given the award in recognition for its affiliates’ scholarship programs and contribution to the preservation of traditional cultures in China.

With news of these awards, POSCO remains more committed than ever to working with the communities near its plants and offices in China. POSCO China plans to be even more active with CSR activities in 2017.

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On February 9^th, POSCO CEO Ohjoon Kwon hosted an Investor Relations (IR) meeting in New York, United States. This meeting was the very first international IR conference held overseas ever since his inauguration. “By following POSCO’s 3-year intermediate management plan, we will ensure internal stability,” CEO Kwon said at the POSCO’s international IR conference, held in Four Seasons Hotel in New York. Also, he added, “We will do our best to return all shareholders’ trust and support”.

Upon the completion of the IR meeting, CEO Kwon rang the Closing Bell of the New York Stock Exchange (NYSE) to notify that markets have been closed. The NYSE offered an opportunity for CEO Kwon to ring the NYSE Closing Bell to celebrate the 20^th anniversary of POSCO’s listing.

In October 14^th 1994, POSCO became the first-ever Korean company to list on the NYSE and the second steel company to be listed after UK’s British Steel. As the company successfully fulfilled NYSE’s strict listing requirements such as shareholder distribution, accounting, and management capability at the time, POSCO has established a reputation as a major global company. Upon POSCO’s NYSE listing, other Korean companies started to deviate from domestic stock market and reached out to secure funds from international market; Domestic companies such as Korea Electric Power Corporation, LG, SK and more followed to be listed on the NYSE.

Continuing from its NYSE listing, POSCO was listed on the London Stock Exchange (LSE) on October 27^th, 1995 and on the Tokyo Stock Exchange on November 22^nd, 2005. The company now stands as the one and only Korean company that has been listed on the global top 3 stock markets.

Meanwhile, POSCO announced its 2014 consolidated revenue and operating profit as KRW 65.984 trillion and 3.2135 trillion respectively. Moreover, POSCO has proposed KRW 67.4 trillion in consolidated revenue and 29.3 trillion in independent revenue as performance objectives in 2015.

 Pictured here: The first production using eco-friendly FINEX method at POSCO’s plant

For the 11^th consecutive year, POSCO has been named one of the ‘Most Respected Companies in Korea’ by the Korean Management Association Consultants (KMAC).  POSCO topped the list in the steel industry category for its 11^th straight year. In addition, POSCO ranked second in the overall ‘All Star Company’ category for 8 straight years. The ‘Most Respected Companies in Korea’ ranking is the only comprehensive survey model in Korea and was developed in 2004 by KMAC to evaluate and publish the value of Korean companies.

Lessons from one of Korea’s most respected companies

The importance of corporate reputation has achieved all-time highs nowadays. POSCO was recognized on this year’s Interbrand’s Best Korean Brands list for its second consecutive year. It must be doing something right.  A great company does not just excel because of its products, but because of its values and other initiatives. Fortune annually publishes its World’s Most Admired Companies list  and 100 Best Companies to Work For list to distinguish the best from the rest. What lessons can be learned from Korea’s leading steelmaker?

POSCO was highly rated for its CSR activities, reliability, values, talent fostering, employee welfare, and eco-friendly management in addition to ethical management. It also gained recognition as Korea`s leading company in fulfilling social responsibilities through internal activities, resulting in increased profitability and decreased production costs, volunteer activities with all employees participating, 1% sharing activities for the socially disadvantaged, and support for multi-cultural families.

Pictured here: POSCO’s women employees participating in Women’s Mentoring Day, held since 2011

 Pictured here: Joint effort between POSCO’s global volunteering program, Beyond, and Habitat for Humanity

Methodology

The ‘All Star Companies’ category includes the 30 most respected Korean companies regardless of industry and is based on a survey of 5,920 industry officers, 230 securities company analysts, and 4,560 general consumers between  October 2^nd, 2013 through January 6^th, 2014. Companies are surveyed based on the following six factors:

1)     Innovation capability

2)     Shareholder value

3)     Employee value

4)     Customer value

5)     Social value

6)     Image value

See below for the 2014 top 10 ‘All Star Companies’ list:

1.     Samsung Electronics

2.     POSCO

3.     Yuhan-Kimberly

4.     Yuhan Corporation

5.     Hyundai Motors

6.     Incheon International Airport

7.     SK Telecom

8.     LG Electronics

9.     Samsung C&T

10.  Samsung Life