“Second Avenue Subway Project Causes 50% Rise in Prices” – New York Times, September 2, 1929

The idea for a Second Avenue line was first brought up in 1920 when NYC’s public transit was at maximum capacity moving around 1.3 billion riders per year having doubled since the pre-war years. When an official plan was introduced in September 1929, home prices increased 50% almost overnight. However, because of the Great Depression, WWII, and then the Korean War; the city did not break ground until 1972. But then in 1975 the project was abruptly stopped when the city ran out of money. Revived again in the mid-nineties, construction on the current line started in 2007.

Proposed Second Avenue line in June 1950. (Courtesy of New York Transit Museum)

“But it is highly improbable that the Second Avenue subway… will ever materialize.” – New York Times, January 17, 1957

Aside from the financial and political reasons that delayed the train for a century, the fact is that it is much more difficult to construct a new subway line in today’s New York than it was in the 1920s. When New York’s first subway line opened in 1904 there were less people, less buildings, and less regulations. At that time, crews would use the “cut and cover” method where they would close the road, dig up the street, and then cover it back up when finished – a feat that would be nearly impossible in today’s bustling Manhattan.

“Ground was broken yesterday for the Second Avenue subway.” – New York Times, October 28, 1972

In today’s New York, the city must use explosions (video) to help make way for the huge boring machines, reinforced with high-strength steel, that are able to cut underneath the foundation while cars and people are left undisturbed on the surface. Running 24 hours per day, these tunnel boring machines can dig around 50-60 feet per day leaving a huge underground path for the trains.

Second Avenue subway tunnel, May 21, 2015. (Photo courtesy of MTA)

While it is obvious that steel would be used in these projects, the sheer amount is astounding. From the tunnel boring machine to the steel wheels that ride on the steel tracks to the stainless steel subway cars — steel is everywhere. In fact, it was the advances made in steel technology in the 1880s that made New York’s first subway a reality. After the great blizzard of 1888 shut down city streets and brought down the electric power grid, the city started to make efforts to put things underground. In addition, the same advances in steel provided for taller and taller buildings that brought more and more people; so, the city needed a new form of transportation that could move everyone from their homes to their jobs. The NYC subway system started in 1904 with just 28 stations – it now has 468 stations running a total distance of 1,055 km (656 mi).

From the steel beams to the steel tracks to the escalators carrying passengers – steel is everywhere. (Photo courtesy of MTA)

Subways have redefined urban life in the modern era. This feat of engineering, like so many other urban wonders, is only possible because of the steel used to dig, build, and operate the subways. Watch the short film below (11:31) to see how the Second Avenue line began – and how it ended 97 years later.

*Cover photo courtesy of MTA

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Pictured here: POSCO steel mill employee juxtaposed with steel production

Let’s take a look back at how POSCO came to be the foundation of the nation’s steel industry as well as one of the most respected companies!

 Founding Period: 1965~1969

Pictured here: 1965.12 – Four countries including U.S. & U.K. convene to establish KISA / 1967.7 – Pohang is selected as site for steel mill / 1967.11 – Steel Industry Committee is established

The growth of POSCO happened at the same time as the growth of Korea. The 1960s was a period when poverty and chaos plagued the nation. However, through steadfast hard work and perseverance, steel became the foundation of a strong economy. Just three years after the launch of Korea International Steel Association (KISA), POSCO was born in 1968.

Establishing Pohang: 1970~1981

Pictured here: 1976.5 – Pohang Works under construction / 1978.12 – Phase 3 of Pohang Works construction completed / 1981.2 – Phase 4 of Pohang Works construction completed

Building steel mills was a daunting task but that did not deter POSCO from finishing it. Through four stages of construction, Pohang Works was completed. For more information on Pohang Works check out our previous post

Establishing Gwangyang: 1982~1992

Pictured here: 1985.3 – Beginning of Gwangyang phase 1 construction / 1978.12 – Establishment of Pohang University of Science & Technology / 1987.5 – Phase 1of Gwangyang Works construction completed

Despite the global economic depression of the 1970s, Korea’s economy flourished and steel business boomed. With experience in building Pohang Works, POSCO had the capabilities and know-how to establish Gwangyang Works.

Building on Great History: 1993~

Pictured here: 1994.10 – POSCO listed on the NY stock exchange / 1995.9 – POSCO Center in Seoul Opens / 2000.10 – Privatization of the company

Since its early beginnings, POSCO has come long ways. In efforts to become number one, POSCO has been contributing monumental achievements to the global steel industry.

Pictured here: Molten iron being transformed into high-quality steel

It has been recognized among the Top 100 Davos Forum Global Companies, #1 by Forbes Magazine as the Most Respected Korean Company and #1 Most Competitive Steel Manufacturer by World Steel Dynamics.

Pictured here: Still shots from the POSCO film which portrays steel which surrounds us in everyday products

In celebration of POSCO’s foundation day, we’d like to share a video about the roots of POSCO.

POSCO has made monumental achievements to the global steel industry by creating world’s best, world’s first technologies. Its products are recognized as one of the most competitive in the global market. As the first to develop Automobile PosM Steel technology, POSCO has made advancements in safety and weight reductions in automobiles.

Beyond being the number one steel company, POSCO is also looking towards the future for transformation and growth. POSCO is strategically pursuing opportunities in the energy and integrated materials business. It is also exerting efforts to increase competitiveness and efficiency in the renewable energy sector. POSCO is also gaining ground in the energy market with applicable high-quality products that can withstand extreme environments.

Pictured here: Finished high-quality steel products inside one of POSCO’s steel mills

POSCO’s Focus on Mutual Growth & Coexistence

POSCO understands that we live in an era where sharing and mutual understanding is essential. POSCO’s goal is to flourish with those who have been working with us to create a better world. To do this it has set improving the earth’s environment and giving back to the community as key goals.

We ask for your support as POSCO continues to build upon its rich history. Celebrating POSCO’s 46 years and recent inauguration of CEO Ohjoon Kwon, we are excited to bring “POSCO the Great” to life.