POSCO continues the pursuit of global dominance in energy steel market by participating in the Offshore Technology Conference (OTC), the world’s top technology fair.

▲ POSCO exhibition booth at OTC in Houston, Texas – from May 6th to 9th, POSCO participated in the world’s top offshore tech conference showcasing the company’s World Top Premium (WTP) products.

The four-day conference kicked off on May 6 in Houston Texas. OTC draws over 2,000 companies and more than 60,000 visitors every year. For industry participants, it provides an excellent opportunity to showcase cutting-edge technology for offshore drilling, exploration, and environmental protection . The meeting also offers venues for industries to identify potential clients. POSCO has been attending the OTC for twelve straight years.

Taking forward the company’s ‘Business with POSCO’ principle, POSCO jointly hosted the exhibition booth with its client companies, who specialize in offshore resources. For the first time in the OTC 2019, POSCO is also organizing a customer-invitation seminar aimed to promote mutual growth with its customers. The seminar is scheduled to take place on May 8.

This unprecedented seminar is set to showcase POSCO’s World Top Premium (WTP) products and its technology and is open to engineers and all affiliated personnel from major energy and EPC (Engineering, Procurement & Construction) sectors. The forum expects active knowledge and technology sharing on POSCO’s WTP products that will help boost the competitiveness of POSCO and its customers.

Among POSCO’s many products, high value-added steel plate products such as cryogenic high manganese steel, wind tower steel, and extremely thick steel plates for offshore structure are expected to draw visitors’ interests.

One such product is POSCO’s cryogenic high manganese steel which received IOM (International Maritime Organization) approval in December last year. The demand for high manganese steel is likely to grow as the market for LNG carriers expects growth because LNG is being recognized as one of the eco-friendly energy sources. POSCO’s wind tower steel was used in Hornsea, the world’s largest offshore wind farm in which its excellent durability and corrosion-resistance were duly recognized.

POSCO will also showcase PosMC (POSCO Mega Caster), extremely thick steel plates for offshore structure – by far holding the world’s top spot for its thickness. Developed exclusively by POSCO, the PosMC is capable of producing slabs of up to 700 mm in thickness, which means the company can supply steel plates of up to 233 mm in thickness.

Furthermore, POSCO’s client companies –TK Corporation and Chang Won Bending Co., LTD.— will showcase heavy-wall welded pipes and pipe fitting , both produced using POSCO’s steel plates. The seminar attendees will have the firsthand experience to observe POSCO’s steel from materials to its final products.

▲ POSCO’s exhibition booth at OTC main conference hall

POSCO joins its partners in the energy industry at the Offshore Technology Conference held in Houston in May. The exhibition booth is prepared in collaboration with the high-profile offshore tool and material manufacturers in the energy industry.

Just as it did the previous year, POSCO presented a booth together with the offshore tool and material manufacturers in the energy industry. POSCO also consulted with various companies to expand new markets for its World Premium Products, including the high manganese steel for slurry pipes, steel for LNG terminals, and steel bars for tools and materials for energy mining.

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POSCO Named World’s Most Competitive Steelmaker for 7th Consecutive Year

In World Steel Dynamics (WSD) latest World-Class Steelmaker Rankings of 37 steelmakers around the world, POSCO once again topped the list. In the ranking, POSCO was recognized for reorganizing its corporate structure, making use of innovative technologies like FINEX and CEM, and increasing sales of high-end products like World Premium (WP) products. POSCO has led the WSD rankings for seven years in a row.

Two Automotive Steel Sheet Processing Centers in China Complete Construction

With the completion of two automotive steel sheet processing centers in Chongqing and Chengdu—the hub of China’s auto industry—POSCO is aiming at expanding sales of its high value steel products. The plant in Chongqing alone has an annual production capacity of 140,000 tons and can produce World Premium (WP) steel products. POSCO now operates 21 processing centers in 13 cities around China.

POSCO Global Volunteer Week 2016 Launches in 52 Countries

During POSCO Global Volunteer Week 2016 in the week of May 28 to June 3, 84,000 POSCO employees in 52 countries carried out a wide range of activities to help out their local communities. CEO Ohjoon Kwon participated, too, joining 40 employees to improve facilities at a rehabilitation center near the POSCO Center in Seoul. POSCO, through its seventh annual Global Volunteer Week, sought to actively spread its corporate culture of sharing and communicating with local communities worldwide.

CEO Ohjoon Kwon Receives the Korea Society’s 2016 Van Fleet Award

This year’s Van Fleet Award went to POSCO CEO Ohjoon Kwon in recognition of his efforts in promoting Korea-U.S. relations. The Van Fleet Award has been given by the Korea Society annually since 1995 to honor those that have contributed to improving the relationship between U.S. and Korea. Past recipients include UN Secretary-General Kimoon Ban, former U.S. President George H.W. Bush and former Korean President Daejung Kim. “If the U.S. had not come to the aid of the Korean people, or if we in the South had lost the war, I would not be standing here,” said CEO Kwon in his acceptance speech.

POSCO Develops High-Resolution Inkjet-Printed Steel

POSCO has developed a high-resolution inkjet-printed steel that integrates inkjet printing and steel, using the company’s own technology. The new inkjet-printed steel can be printed in full color with a resolution of more than 1,200 dots per inch—four times higher than existing materials. This new inkjet-printed steel also has high corrosion resistance, a shortened work process, and can be produced in more vivid colors.

POSCO Participates in Offshore Technology Conference 2016

This is the ninth consecutive year that POSCO has participated in the Offshore Technology Conference, the biggest international conference for offshore operation technology. For this year’s Offshore Technology Conference, POSCO set up an exhibition booth with domestic offshore equipment manufacturers, maximizing the company’s promotional effectiveness.

POSCO Announced First Quarter Earnings During IR Conference Call

POSCO announced in April that its first-quarter operating profit and net income have both increased from the previous quarter. Operating profit rose KRW 319.3 billion to reach KRW 659.8 billion while net income was KRW 352.5 billion, rising from KRW 243 billion. However, POSCO’s total revenue was down slightly on a consolidated basis, declining to KRW 12.46 trillion. POSCO credited the improved results to better performance from the steel and trading divisions.

These are exciting days for POSCO. With new technology, new processing centers, and new awards, POSCO is continuing to make its mark in the international steel industry. Expect the big news and major achievements to continue in the second half of 2016.

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POSCO partook in this year’s Offshore Technology Conference (OTC), held between May 2 and 5 in Houston.

OTC is the biggest international conference for offshore operation technology, and consists of technology seminars and exhibitions related to offshore plants and equipment.

POSCO has participated in the OTC for nine consecutive years, starting in 2008. This year, specifically, POSCO maximized its promotional effectiveness by setting up an exhibition booth with domestic offshore equipment manufacturers to promote finished solutions that ranged from World Premium (WP) products to equipment.

POSCO and offshore equipment manufacturers have actively and collectively sought new clients by holding technology meetings with engineering, procurement and construction (EPC) companies.

POSCO configured the OTC exhibition booth, which focused on technology solutions for thick plate and high manganese steel, and showcased various products and technologies to visitors, including four types of high manganese steel and 13 types of utilization technologies and component solutions.

In addition, POSCO promoted technology agreements and strengthened its network with material certificate authorities, ordering bodies, EPC companies and manufacturers in order to stimulate new orders for high manganese steel.

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Yet, the quality standards for advanced steel used for drilling, producing, transporting, conserving and handling energy resources for oil and gas are becoming stricter so that steel can better endure the harsh drilling environments of the deep sea and polar areas, two domains on the radars of oil exploration geologists.

At this year’s Offshore Technology Conference (OTC), the world’s largest marine technology exhibition, which was held from May 4 to 7 in Houston, Texas, POSCO showcased its efforts on such developments. Included were its lineup of high-grade steel products, as well as the firm’s cross-department collaboration system between steel plants, laboratories and marketing departments, among others, to improve the development of functional, advanced steel.

Considered the leading forum for gathering and sharing offshore oil and gas information (as well as unveiling some impressive machinery), the goal of the conference, according to its website, is to “advance scientific and technical knowledge for the safe, environmentally friendly and sustainable development of offshore oil and gas resources.”

Despite recent low oil prices, the 2015 OTC attracted over 94,000 attendees, making it the sixth largest in its 47-year history. Additionally, approximately 2,700 major oil and global EPC (Engineering, Procurement and Construction) companies from 37 countries participated.

Among these, POSCO represented South Korea, aiming to continue its solution marketing activities for advanced steel for energy, production and technology, as well as steel utilization techniques.

Introducing a variety of the company’s products and technologies, POSCO’s exhibition consisted of four zones: energy plants, energy pipes, shipbuilding, and manganese steel sectors. At the booth, a video on steel-making technology was presented to help attendees better understand steel products.

POSCO displayed its strength as a “total solution provider,” which has helped the firm to simultaneously strengthen its position in the steel market and discover new business opportunities.

Since it first participated in the OTC in 2008, POSCO has operated a booth annually as part of its demand development activities, which have led to the company’s increasing development of energy steel in a short period of time. Moreover, POSCO’s progressive product promotion and supplier certification activities have resulted in a successful long-term contract for the blanket supply of energy steel, and have solidified technical cooperation with clients.

As new advancements are made in offshore drilling technology, the utilization of steel in the industry will also evolve. POSCO will continue to adapt to such changes, and will work hard to manufacture sustainable, quality products to meet the demands of its clients.

Pictured here: POSCO booth at OTC 2014

Pictured here: Tape cutting ceremony in front of the Korean booth

‘Energy industry’ is a core part of POSCO’s future competitiveness strategy. As such, POSCO has dedicated efforts to develop energy steel technology. Energy steel refers to steels used for the mining, production, transportation, storage and processing for oil and gas. In a nutshell, energy steel serves as a crucial component that is necessary for transporting energy sources around the world. Formerly energy steel business was dominated by European and Japanese steel mills. However, POSCO has made efforts to bolster the collaboration of steelworks, research and marketing department in order to advance technologies to take on a fresh central role in the energy steel market. Through these efforts, POSCO has been able to create high-tech energy steel that is appropriate for extreme environments such as polar and deep sea mining.

POSCO ushers in energy technology 

At the 2014 OTC, POSCO was able to use Solution Marketing to promote its energy steel processing and application technology. POSCO first took part in the OTC in 2008 and since then, has been operating a booth at each conference and has steadily assessed demand in the energy industry. As a result, POSCO secured offshore projects with three domestic shipbuilding corporations, and made long term contracts with Shell and Petronas. In addition to product sales, POSCO has been able to develop steel materials based on needs of oil majors, EPC corporations and other clients. Technical partnerships for steel materials and engineering with companies such as Exxon Mobil, SINTEF, AMEC and Fugro were made possible as well.

Pictured here: The honorable guest Moon Seung-wook, chief of Ministry of trade, industry & energy of Korea, and Park Seong-bum, counsel general of Houston, viewing the exhibitions by Korean companies

Based on the results of Solution Marketing efforts, the POSCO booth at OTC this year garnered more visitors than in the past with about 1,050. This was a great opportunity to showcase the POSCO brand to the global energy market. Below are two greatest outcomes from the conference.

 Outcome 1. Sign and discuss steel material supply contracts  

Pictured here: Steel Solution Center Head, Kim Ji Yong, speaks with distinguished VIP guests

POSCO proactively marketed to energy companies such as IOC (International Oil Company), NOC (National Oil Company), and EPC by actively networking and opening business discussions. There were many opportunities to build relations with high-level personnel from about 71 major energy companies. The main purpose for marketing was to raise awareness of POSCO’s specialized advanced technology by promoting solutions for steel used in energy projects such as finished steel plates, STS, Titanium and wire rods.

Pictured here: OTC 2014 conference attendees touring the POSCO booth

Based on consideration of technology exhibition traits, POSCO set up experts to promote technologies for each field. Moreover, in addition to steel production, POSCO has capabilities for engineering, construction, equipment manufacturing and other differentiating value chain strengths which has helped POSCO distinguish itself to win energy projects. As a result, POSCO was able to sign agreements to supply steel to major energy businesses. Going forward, POSCO aims to continue to create new business opportunities in this way.

Outcome 2. Sign MOU and JDA, and discuss joint research opportunities

Pictured here: POSCO booth at OTC 2014

On this day, POSCO was able to showcase five special solutions including wear resistant steel, slurry pipes, welding, LNG tanks and other steel application technology on a global stage. It was a great opportunity to raise awareness and gather interest from major energy corporations for joint research on technology cooperation, polar region steel and welding materials. In addition, MOUs and JDAs were signed with major companies for more growth.

Prepare for the future with future growth engines!

As the weight of energy projects on the overall business grows, POSCO plans to strengthen collaboration between POSCO E&C, POSCO SPECIALTY STEEL and POSCO PLANTEC in order to develop its capabilities to meet various market changes and be a Total Solution Provider. By making meaningful relationships with some of the largest energy corporations in the world, POSCO can compete in the global top tier level by continuing to develop new projects and technologies that are appropriate to changing market and customer needs.

Between 6th and 9th May, POSCO joined the Offshore Technology Conference (OTC) in Houston, U.S.. During the conference, POSCO promoted energy steel products created by its own specialized technologies. Let’s find out how global players reacted to POSCO’s top-notch technologies, which would lead the future of steel industry in coming years.

POSCO participates in the world’s biggest Offshore Technology Conference

Established in 1969, OTC is the biggest international conference for offshore operation technology. For this year, 2,500 companies from 110 countries participated in the event. POSCO has been joining the conference for the last six consecutive years since 2008.

POSCO sets up a joint booth with five affiliates, emphasizing its ‘Value Chain’

During the event, a joint promotional booth was set for POSCO E&C, POSCO Specialty Steel, POSCO Plantec, Sungjin Geotec and POSCO Engineering. At the booth, POSCO’s energy steel plates, such as thick steel plates and API-X120, and a miniature model of offshore plant structure were exhibited to highlight the leading global steelmakers’ value chain.

POSCO catching the public eye with cutting-edge products

1,500 visitors, including Gwan-sub Lee, head of industry policies at the Ministry of Trade, Industry and Energy, major oil companies, EPC companies and energy equipment manufacturers called at the venue and showed great interests in POSCO’s competence in developing steel plates for energy uses.

POSCO also caught many eyes with its special reception for the major oil and EPC companies with a presentation illustrating the advantages of POSCO’s energy steel plates and POSCO subsidiary companies’ business competence, followed by a traditional Korean performance. POSCO also signed an MOU with Fugro, the world’s No.1 geotechnical company, as well as discussing cooperation methods and sales strategies for POSCO’s energy steel plates with Shell and the Korea National Oil Corporation.

During the reception ceremony, In-Hwan Oh, Head of Carbon Steel Business Division of POSCO, addressed “By participating in this conference, POSCO is aiming to maximize the synergy with Korea’s top 3 major shipbuilders and other equipment manufacturers through becoming a powerful supporter of oil and gas industries and a total solution provider.”

With the market data and contents of counseling collected from the conference, POSCO will strengthen the firm’s business and promotional activities in order to achieve the accompanied growth with other Korean corporates. In addition, POSCO will expand the sales of energy steel plates to the global top players of the energy industry by raising the brand awareness as well.