POSCO started supporting the team last year after CEO Ohjoon Kwon watched the team take the bronze medal at the 2017 World Championships. As shown in the documentary, the athletes were playing on insufficient sledges that would often break down and cause injuries. Some players were fixing their own sledges between matches, others made do with what they had. CEO Kwon knew POSCO had the solutions for the team and started a project with sledge-maker Massive Blade to revamp the sledges for the team. Now, ahead of the 2018 PyeongChang Winter Paralympics, the team is equipped and ready with the world’s leading technology.

SEE ALSO: How POSCO’s Advanced Technology Gives Speed to Korea’s Para Ice Hockey Team

Parallel: A Documentary

Parallel was directed by Kyungman Kim in 2012. He wanted to make the movie to document the para ice hockey players’ endurance and grit in overcoming their physical limitations through the sport. “However, as I started editing the footage and putting it all together, I noticed how happy the players looked on the ice. That’s when I decided the documentary was going to be about happiness – what it really means to be happy. That’s what I want to share with viewers,” said director Kim.

Director Kim couldn’t help but notice the smile on the players’ faces. (Source: Taehung Pictures Naver Post)

That’s exactly what the movie delivers. Of course, the players face challenges every day due to their injuries and physical conditions, but the interviews in the documentary reveal the players to be genuinely happy and grateful for their sport. Seunghwan Jung, one of the players, says, “I used to wish I had legs all the time, but when I started playing hockey, the thought just never crossed my mind. In a way, the sport has allowed me to accept myself… understand myself.”

One of the players take break from intense training. (Source: Taehung Pictures Naver Post)

For many of the players, playing para ice hockey has been a healing process, but it doesn’t end there. The team is as competitive as any other Olympic team, and even with a lack of spectators and interest in the sport, the national team has produced impressive results. In the 2010 Vancouver Winter Paralympics, the team placed 6th, and then 7th in Sochi in 2014. This is even more remarkable given the poor equipment, especially the sledges, they were using at the time.

POSCO Gives Ice Sledges a Technological Makeover

In order to qualify as a para ice hockey player, a person must have a physical impairment in the lower part of their body, but this can come in many different forms. As a result, one of the biggest challenges teams face is finding sledges that fit, protect and enhance each player. Before POSCO signed on as a sponsor, the Korean National Team relied on expensive imported sledges from Canada that were heavy and susceptible to structural damage from harsh contact. On average, 5 to 7 sledges required repair work during a single game. In an attempt to produce the first domestic sledge, POSCO’s researchers jumped on board to provide sledge-producer Massive Blade the materials for a lightweight, strong and corrosion resistant sledge.

Researchers at POSCO’s Research Institute of Industrial Science & Technology (RIST), came up with a way to use magnesium as the main material for the sledge frame. Magnesium is one of the lightest materials available as it is one third lighter than aluminum, but it is extremely hard to treat and bend into shape. RIST not only developed the technology to treat magnesium, but also applied it to sledges for the first time in history. POSCO also provided its advanced high-manganese anti-vibration steel and stainless steel to finish off the new sledges, fit for a national team.

RIST researchers developed a processing technology to increase the moldability of magnesium.

Outfitted with the new sledges, the team beat out strong European teams in the 2017 World Championships to place 3rd, and just last month, they won a four-nation friendly tournament in Japan. Now, they have their eyes on an Olympic medal in PyeongChang.

Regardless of the results, POSCO will continue to support the Korean National Para Ice Hockey Team so they can continue doing what makes them and others around them happy.

Cover photo courtesy of Hello PyeongChang.

EVs will make up 54 percent of new car sales in 2040. (Source: Electrek)

Even though EVs make up about 1 percent of total new car sales in the U.S., EVs are on a steady, steep path upwards. According to a report by Bloomberg New Energy Finance, EVs will make up 54 percent of new car sales by 2040, and by 2029, EVs will be cheaper to buy than gasoline and diesel-fueled cars.

The figures are significant and will translate into a sharp increase in demand for rechargeable batteries and their materials.

SEE ALSO: Ask an Expert: Electric Vehicles and the Future of the Automotive Market

The Evolution of EV Batteries

Before diving into the juicy details, it’s always helpful to cover the basics. Batteries are made up of 3 main components. The anode, or negative electrodes, the cathode, or positive electrodes and some type of electrolyte through which the electrodes travel to release chemical energy.

A simple battery can be made out of a potato, copper penny and galvanized nail. (Source: Tested)

The first rechargeable battery, lead-acid battery, was invented in 1859 by a physicist named Gaston Plante. Lead dioxide was the cathode material used, and lead was the anode material with a liquid solution of sulphuric acid and water as the electrolyte. The materials were affordable and the battery was applied to many early models of EVs, including early models of the Tesla Model S.

Another widely used battery that came after the lead-acid battery is the nickel-metal hydride (NiMH) battery developed at the Battelle-Geneva Research Center in 1967. Nickel hydroxide was used as the cathode material while a hydrogen-absorbing alloy was used as the anode material. A liquid solution served as electrolytes. The research for NiMH batteries was extensive, and funded jointly by Daimler-Benz and Volkswagen AG. The batteries were also applied to many EV models such as the Toyota Prius, prior to 2015.

The Advent of Lithium-Ion Batteries

The introduction of lithium-ion batteries was a game-changer. Sony first introduced them in 1991, and today, most EVs have them, including the Tesla Model 3. The batteries consist of lithium-cobalt oxide cathodes, graphite anodes and the electrolyte is usually a solution of lithium salt and an organic solvent, though some automakers are experimenting with solid-state electrolytes.

The Tesla Model 3 has a lithium-ion battery. (Source: Green Car Reports)

Compared to its predecessors, lithium-ion batteries have the highest amount of stored energy and specific power, which is kind of like horsepower for electric cars. As a result of improved technology and lower costs, lithium-ion batteries are projected to make up 70 percent of the total rechargeable battery market by 2025, which will be worth roughly USD 112 billion.

Good as Gold

It is estimated that every 1 percent increase of EVs in the auto market will result in an additional 70,000 tons of lithium demand LCE per year.

In 2016, Australia topped the list for the most lithium produced with 14,300 metric tons. China and Zimbabwe are also top contenders producing 2000 and 900 metric tons in 2016, respectively. Then, there are the South American countries of Argentina, Chile, and Bolivia, also referred to as the “lithium triangle,” and home to 75 percent of the world’s lithium supply.

Workers at a brine pool at the Rockwood Lithium Plant on the Atacama salt flat. (Source: Reuters)

Does that mean the world has enough lithium to fuel the cars of tomorrow? The answer is yes, but there aren’t enough mines to produce them. In order to prevent environmental damage and the exploitation of unprotected workers, lithium producers have to get smart about lithium mining and production.

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POSCO’s Lithium Production  

Starting in 2010, POSCO and the Research Institute of Industrial Science & Technology (RIST) teamed up to develop a chemically based lithium extraction technology. The innovation cut down extraction time from up to 18 months down to between 8 hours and 1 month, delivering a purity rate of 99.9 percent. The recovery rate of lithium also increased to over 80 percent. POSCO is the world’s first corporation to commercialize the technology.

SEE ALSO: Lithium Rocks: POSCO at Forefront of a Green Energy Future

POSCO CEO Kwon Ohjoon holds lithium on his visit to PosLX, POSCO’s battery production factory in Korea.

It’s also at the heart of the lithium triangle. POSCO currently operates facilities in Chile’s Maricunga Salt Lake, Argentina’s Cauchari Salt Lake and Argentina’s Pozuelos Salt Lake, which alone will boost POSCO’s annual lithium production to 2,500 tons. POSCO also opened its first battery production plant in Korea earlier this year.  

The future of EVs is promising thanks to advancements being made in electric batteries, and there’s a lot at stake for the health and well being of future generations. Increasingly, the availability and costs of EV battery materials will play a vital role in market outcomes and widespread EV adoption. It is vital for companies like POSCO to provide abundant, sustainable and cost-friendly EV battery materials so automakers can continue to enhance the batteries of tomorrow’s cars.

Cover photo courtesy of Quartz.

It is also the most common material found in medical supplies that contribute to people’s health and safety on a daily basis.  

Surgical Steel

“Surgical steel” is a term used to describe stainless steels for medical applications, and are generally made up of 316, 440 and 420 stainless steels. Surgical stainless steels are corrosion resistant, have a shiny, aesthetically pleasing exterior and are extremely hygienic. Plus, they have a long life cycle and require minimal maintenance.

Surgical steel is also used for screws and joints that hold bones together. (Source: National Geographic)

Due to these properties, surgical steel is the material found in medical equipment such as syringes, scalpels and gauges. Moreover, screws used to hold broken bones together and other parts for application inside the body are made of surgical stainless steel.

For the same reasons, surgical steel is also used to make jewelry.

Know anyone who is allergic to certain types of jewelry? Often times people think they are allergic to gold or silver, but chances are, they are allergic to other alloying elements, the most common one being nickel. In the United States, up to 17 percent of women and 3 percent of men are allergic to nickel, and the number is rising. Surgical steel with zero nickel content is a safe and cost-friendly alternative, and demand for the hypoallergenic material is growing.

Surgical steel is commonly applied to piercing jewelry. (Source: Elixa)

Surgical steel was a part of the 45.8 million metric tons of stainless steel produced globally in 2016, almost double the 24.5 million metric tons produced in 2005. The growing demand and application of stainless steel are playing a positive role in the economy, but it has also been the cause of environmental pollution.

POSCO’s Surgical Steel

One of POSCO’s surgical stainless steels is the PossRB1. It is comparable to the 420J2 stainless steel that is often applied to kitchen blades, however, it has a much higher level of hardness, and thus can be applied to surgical scalpels and razor blades.

Surgical scalpels come in direct contact with the body and need to be especially clean and non-corrosive. (Source: NY Times)

Another example is POSCO’s 304i stainless steel used to make syringe needles. It is an upgraded version of 304 stainless steel with a 9 percent nickel content, traditionally applied to syringe needles. The production process of syringe needles is demanding and require multiple steps to process into the desired thinness and diameter. To add, the materials need to be especially clean, or else the needle can fracture or not reach the desired thinness. POSCO’s 304i stainless steel is manufactured using POSCO’s strip casting technology and can be processed into the thinnest diameter requirements for 32 gauge needles (dental needles).

Syringe needles require a demanding production process. (Source: Tangent Industries)

POSCO’s poStrip Technology for Stainless Steel Production

In order to reduce the harmful environmental effects of steelmaking on the environment, POSCO partnered with the Research Institute of Industrial Science & Technology (RIST) in 1989, to come up with an innovative technology for stainless steel production called poStrip, or POSCO’s strip casting technology.   

The poStrip technology is an innovative way to make steel production more sustainable. (Source: POSCO E&C)

For more than 13 years, POSCO and RIST experimented with a twin-roll strip casting system where thin strips of steel can be produced in a single, continuous process. Hot molten steel passes through two cylindrical rollers that rotate and cool the hot steel sheets immediately, thus eliminating the need for hot rolling. In conventional casting processes, molten iron is poured into molding frames to produce steel slabs that are then rolled into sheets.

The new technology vastly reduced the cost of production, delivery time as well as the amount of harmful emissions created in the steelmaking process. In the end, POSCO’s poStrip technology was perfected and applied to various types and grades of POSCO’s stainless steels.

Not only is the innovative technology cost-effective and sustainable, it produces better quality steels.

In 2015, POSCO received the Steelie Award for Innovation of the year from the World Steel Association. POSCO was recognized for its high-quality stainless steel products that were produced with the innovative strip-casting production technology. POSCO will continue to research and improve the production and overall quality of stainless steels so that its partners can manufacture world-premium supplies, machines and architecture.   

There is a shocking amount of garbage and waste in the world’s oceans, and it has gone unchecked for far too long. Ocean currents have drawn these floating garbage patches together into distinct regions, and, according to the National Geographic, one in the Pacific covers an area larger than Mexico.

The world’s largest garbage dump is found in the world’s oceans. (Source: Stem Jobs)

Individuals, governments, and companies are heeding the call of oceanographers and other scientists and realizing more and more that a healthy ocean is vital to humanity’s survival. Many organizations are working to protect this natural resource by implementing sustainable, responsible practices to help clean up the oceans.

The State of the Ocean Today

Plastic is a major problem for the ocean. It breaks down into microparticles, which are nearly impossible to clean up. Places like Henderson Island, in the South Pacific region, are covered in tens of millions of pieces of trash.

Animals like seabirds consume the plastic at alarming rates: it is found in 90 percent of seabirds, according to Australia’s Commonwealth Scientific and Industrial Research Organization. The study also says that plastic production is rapidly increasing, and so are the rates of ingestion by seabirds.

A bird eating plastic on the beach. (Source: Science Mag)

Plastic is not the only problem. Oil, fertilizers, sewage disposal, and chemical usage on land is affecting the oceans and killing marine ecosystems. The US National Research Council says 36 percent of the oil in the oceans come from city and industry waste and runoff.

Fertilizers are entering the ocean in much the same way. Even though there are many global restrictions on sewage and chemical dumping, it still happens. The oceans are in rough shape, and these issues are only going to get worse if people, companies, organizations and governments do not take action.

However, there are factors to consider before plunging in.

Cleaning Up Done Right

If ocean cleanup is not done properly, it can negatively impact marine ecosystems. The Bureau of Safety and Environmental Enforcement’s (BSEE) Rigs to Reef program found that fish and marine life were using oil and gas platforms as habitat, and when these rigs were decommissioned and removed, it harmed and disrupted the ecosystem.

Rigs to Reefs helped to transform oil and gas platforms so that they could actually offer a benefit to marine ecosystems. It now encourages the use of obsolete platforms as artificial reef material – as long as they meet strict requirements. With BSEE’s program, various marine species can adapt to and enjoy the artificial reefs as shelters and breeding grounds.

An artificial reef made of old industrial infrastructure. (Source: Rigs to Reef)

Other companies and groups are also taking action. For example, The Ocean Cleanup is a group focused on using the ocean’s natural currents for cleanup, and financing the project through philanthropic, commercial, and governmental donations and sponsorships.

POSCO’s Triton Project

POSCO is another company committed to sustainable, responsible practices when it comes to the environment, including the oceans. One of their major innovations, the Triton project has a direct, positive impact on the marine ecosystem of Korea’s South Sea and East Sea.

In conjunction with the Research Institute of Science and Technology (RIST) and the Korean government, POSCO has installed 510 artificial fish reefs made of “Triton” steel slag, made of  by-products of the iron and steelmaking processes. Triton is eco-friendly and low in carbon, and adds additional value to the steel manufacturing process by using up its wastes.

POSCO uses by-products from steel production to make Triton. (Source: Diproinduca)

Even better, Triton is naturally made with high percentages of iron and calcium, which work to create the ideal conditions for seaweed and algae spore growth, and purifies contaminated sediment. These reefs can also help reef populations migrate to cooler waters.

Triton reefs create a very healthy environment for marine life, and have helped to restore sea forests wherever they are installed. The sea plants that are thriving with Triton are decreasing carbon dioxide and creating a healthier ocean. Aside from the environment, the economies of surrounding countries are reaping the benefits. The commercial fishing industry is one of the first industries to benefit from a more robust local fish population.

An example of an artificial reef used to support plant growth

POSCO intends to continue building on the success of Triton, forging cooperative relationships to construct fishery resources. The next coral reef forest restoration is planned for Indonesia, and POSCO will continue to protect marine life globally.

Cleaning up the oceans is one of the greatest global environmental responsibilities of humanity. POSCO is one company leading the efforts to restore the environment through transformative technologies that take what was once considered waste and using it to create spaces that nurture life.

Cover photo courtesy of Rigs to Reef.

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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.

Earlier this month POSCO opened its first lithium extraction plant, PosLX, in Korea that is expected to produce 2,500 tons of lithium carbonate per year – enough to produce about 70 million laptop batteries. While most lithium carbonate is extracted from salt deposits, POSCO was the first to develop a way to extract it from wasted batteries.

Lithium Demand to Continue Rising

Demand for lithium-ion batteries is expected to rise exponentially in the coming years. Tesla, Chevrolet, Nissan, Toyota, and other upstarts are all expecting increased demand as their electric vehicles begin rolling off production lines. Overall, worldwide demand for lithium carbonate is expected to rise from 66,000 tons in 2015 to over 180,000 tons by 2025.

“With the supply of electric cars and the development of smart grid technology, the market is expected to result in massive growth.” – Ohjoon Kwon, CEO

POSCO Reduced Extraction Time to 8 hours

Starting in 2010 when CEO Ohjoon Kwon was the Director at the Research Institute of Industrial Science & Technology (RIST), POSCO began working on developing a high-efficiency technique for extracting lithium from water.

In 2010, POSCO began development of a new chemically based lithium extraction technology that is able to reduce extraction time while also improving efficiency and reliance on overseas imports. The first pilot program began in 2013 and POSCO recently became the world’s first corporation to commercialize chemically based lithium extraction technology.

Lithium extraction traditionally takes anywhere from 12-18 months using a slow evaporation technique. However, POSCO’s new extraction method takes from 8 hours up to one month while also offering a purity rate of 99.9% and increasing the lithium recovery rate to over 80%.

Furthering POSCO’s work in lithium extraction, in 2011 POSCO partnered with RIST to further establish pilot production facilities with an annual capacity of two tons. Since then, POSCO has successfully completed more pilot production facilities overseas at Chile’s Maricunga Salt Lake (2013), Argentina’s Pozuelos Salt Lake (2014), and Argentina’s Cauchari Salt Lake (2015). The lithium processing plant at the Pozuelos Salt Lake in Argentina will have an annual processing capacity of 2,500 tons of high-purity lithium that can be used in rechargeable car batteries.

Pozuelos Salt Lake in Argentina

Eco-friendly Extraction Using Recycled Batteries

POSCO has also commercialized a new eco-friendly technology used to produce lithium carbonate. While lithium is typically extracted from salt, for the first time ever, POSCO developed a way to extract lithium from recycled batteries.

The lithium carbonate produced from these recycled secondary batteries was tested in January 2017 and found to be of equal quality in terms of purity, charge, discharge efficiency, and capacity. This technology is used at POSCO’s PosLX plant with an annual capacity of 2,500 tons, and will help supply POSCO’s battery making partners such as LG Chem, Samsung SDI, and POSCO ESM, a subsidiary that produces cathodes for secondary batteries.

With POSCO’s unique technologies in place, POSCO is planning to increase production capacities to over 40,000 tons of lithium – both at home and abroad.

From left to right: Jae-chun Song, chairman of Gwangyang City Council, Hyun-bok Jeong, mayor of Gwangyang, Gi-jong Woo, deputy governor of South Jeolla Province, POSCO CEO Ohjoon Kwon, Ung-beom Lee, president of LG Chem and Nam-seong Cho, president of Samsung SDI who can be seen pressing symbolic buzzers to show that the plant is now online.

CEO Ohjoon Kwon’s Commitment to Grow POSCO’s Non-Steel Business

Since 2010 when he was a director at RIST, POSCO CEO Ohjoon Kwon has worked to promote the advancement of lithium extraction technology. His work can be seen in POSCO’s recent efforts to significantly cut extraction time while also finding new and eco-friendly sources of lithium carbonate.

POSCO Chairman Ohjoon Kwon gives a celebratory speech at a newly built lithium extract plant in Gwangyang, South Jeolla Province, on Feb. 7.

When Kwon was appointed as POSCO’s CEO in 2014, he focused on strengthening POSCO’s steel businesses. However, as he begins his second term, he has emphasized the need for POSCO to search for profitable growth engines in order to strengthen its global competitiveness.

“Our vision is what propelled us to keep going in spite of many difficulties and limitations.” – Ohjoon Kwon, CEO

In the world’s growing lithium market, POSCO is determined to become a leading supplier. While strengthening its non-steel business segments, POSCO will continue working to provide innovative technologies that are efficient, effective, and eco-friendly.

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This new steel can be printed in full-color and its resolution is more than 1200 dpi (dots per inch)—four times higher than that of the existing material. It delivers meticulous design, allowing for the printing of repeating patterns or a split image of a massive work of art.

Making the best of these improvements, the newly developed steel is expected to replace the existing product in the market of household appliances, including refrigerators and washing machines, as well as interior and furniture materials.

The existing steel is used with roll printing or silk-screen printing. It boasts a lower resolution and can only be printed in a maximum of five colors. Its vulnerability to air and humidity facilitates discoloration, while its poor adhesion causes coating to peel and flake prematurely.

This has led POSCO to develop a new steel sheet that can be printed with inkjet technology using an ink solution that has high corrosion resistance and workability. This steel sheet presents more vivid colors compared to the previous one and the shortened work process largely reduces the production cost.

Pictured in the circle above is POSCO’s inkjet-printed steel applied to the outer wall of the parking garage of the RIST office. The color and texture of marble has been perfectly reproduced to the point that it is difficult to differentiate the sheet from real marble. It also completely resolves the corrosion of marble caused by wind and rain.

Recently, the Research Institute of Industrial Science and Technology (RIST), a research affiliate of POSCO, applied the inkjet-printed steel to the outer wall of its parking garage, creating a genuine marbleized effect in color and texture. It replaced the real marble wall that had been corroded by wind and rain, giving the building a beautiful, elegant look.

POSCO expects the inkjet printing technology will be widely used in the markets of household appliances and construction materials, both in Korea and internationally, resulting in increased sales of the company’s World Premium (WP) products.

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Today, we are living in a world of amazing products and technologies that go beyond our wildest imaginations. New things that alarm us pop up every other day, and it’s really a difficult task to keep up with all the latest trends. To help our readers out, Hello, POSCO prepared some of today’s most promising trends from secondary batteries to unmeltable steel. How about taking a glance into tomorrow’s technology together? 

A look into today’s leading trends in the advanced materials and energy industry

Thanks to the high enthusiasm and active investment on the part of POSCO and various companies in developing new business opportunities, Korea’s technology is making its way to the top.

Shall we take a closer look into Korea’s globally recognized advanced materials and energy sector?

#1. Secondary Batteries

Secondary batteries are known as one of the three most significant electronics of the 21st century, along with semiconductors and digital displays. Secondary batteries can be recharged and reused unlike the generic disposable kind. Corresponding to the rising interest in eco-friendly energy such as electric cars, the lithium secondary battery market soared 20% annually over the past five years.

According to a report by B3, a Japanese market research company, this year’s lithium ion secondary battery market is expected to increase 24% compared to last year.

Secondary batteries are classified by the material used; there are Nickel, lithium ion, lithium polymer, and nickel zinc batteries. Among these, the most promising is the lithium ion secondary battery which is widely used in various appliances including mobile electronic devices.

The Advantages of Environment-Friendly Secondary Batteries

 The most important reason secondary batteries are so influential in today’s energy industry is that its impact on the environment is minimal. Unlike fossil fuel, secondary batteries do not produce harmful emissions, making it an attractive energy source for cars. Also, because it does not require an internal combustion engine, there is no need to worry about making too much noise. Isn’t that wonderful?

From Automobiles to IT: The Various Applications of Secondary Batteries

Secondary batteries are thrown into the spotlight as the key to eco-friendly growth in various fields such as the automobile, IT and energy industries.

 From various IT devices to electric cars, secondary batteries are being used more and more frequently. Recently, secondary batteries are mostly used in mobile phones because they are light and suitable for storing high amounts of power.

In the automobile industry, the development and implementation of next-generation secondary batteries for electric cars will be a truly significant feat that will change the industry forever.

Game Changer: POSCO develops revolutionary lithium extraction technology

Korea is the world’s largest manufacturer of secondary batteries, but it has also been 100% dependent on imports for the core material lithium. To solve this problem, POSCO and the Research Institute of Industrial Science & Technology (RIST) jointly developed a revolutionary lithium extraction technology.

(POSCO’s Pilot Plant (Phase 2) located at the Maricunga project near the city of Copiapó, Chile)

The lithium extraction technology was developed after the successful installment of a pilot plant (phase 2) located at the Maricunga project near the city of Copiapó, Chile.

The chemical lithium extraction technology, which was developed by POSCO’s own research unit, reduces recovery time from around 12 months to just eight hours! It also increases the lithium recovery rate from a maximum of 30% using traditional evaporation ponds to more than 80%.

In a time when secondary batteries are in the limelight, POSCO’s new technology could possibly be a game changer in various next-generation industries such as electric cars and smart grids. We hope to lead the global green industry with this awesome technology!

#2. PosMAC, the Unmeltable Steel

(The demand for highly durable and cost-efficient PosMAC is on the rise in the solar panel industry)

We usually consider steel as vulnerable to rust and corrosion over time. However, Korea’s leading steelmaker POSCO has developed a revolutionary steel by the name PosMAC. PosMAC is free from rust and corrosion for 10 to even 50 years!

The researchers at POSCO felt the need to develop a highly durable steel suitable for use in sites vulnerable to corrosion such as livestock handling facilities or coastal structures. The result was a futuristic multi-purpose steel that not only ensured long-term stability, but also added to the cleanliness and aesthetic of structures.

PosMAC is highly durable to moisture, heat and various chemicals while being affordable. PosMAC is also highly resistant to alkali and ammonia, which makes it highly suitable for use in livestock handling facilities or in situations where components are in contact with concrete tar.

We expect the corrosion-free PosMAC to be a significant contribution to the steel market in areas struggling with rusty steel!

More information on PosMAC at Hello, POSCO Blog

• PosMAC: The Revolutionary Steel 

#3. Substituting Fossil Fuel with Marine Bioenergy

Last but not least is the marine bioenergy industry. Marine bioenergy is an alternative energy produced through the refinement and fermentation of marine biomass such as seaweed. By substituting fossil fuel, bioenergy aims to narrow the gap between energy supply and demand!

Korea is currently heavily dependent on imports for energy, with 97% of the country’s energy being imported. Thus, it is crucial to reduce the dependency while finding out a way to produce energy independently. Marine bioenergy has been thrown into the spotlight as a promising new alternative energy due to Korea’s geography being suitable for development.

The advantages of marine bioenergy is that there is no need to worry about depletion. Also, it can be used continuously once developed, and large-scale development is possible. Lastly, its impact on the environment is minimal. It will be great if Korea would be able to utilize its geographical advantage as a peninsula and develop the environment-friendly alternative energy in the future!

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.

Reorganize POSCO’s Overseas Business to Focus on Steel Business

Pictured here: Chairman Kwon speaking to reporters on March 14

Do you think entering international markets is still valid today considering the delay of establishing an integrated steel plant in India, launching FINEX business in China, and beginning phase 2 construction in Indonesia?

It is true that some of the businesses are delayed. First of all, because India tends to have many decentralized policies, we have had to negotiate with many different bodies regarding business implementation and also had communication difficulties due to the cultural differences. However, the visit of President Geun-hye Park made a lot of improvement in terms of obtaining mineral rights and adjustment of land. Based on this, I think there will be acceleration in administrative implementation.

In China, they are planning to launch FINEX business. FINEX is the unique technology of POSCO and I think it is the core business that needs to be implemented continuously when considering the trend of future technology and ore processes. Therefore, we should continue to take the lead in this area.

In the case of Indonesia, regular operation has been delayed for about 2 months due to the unexpected accident, but it has stabilized again with the last month. It will be difficult to achieve surplus due to the loss of approximate 0.6 million tons of production caused by the accident, but we will do our best to make a gain next year.

Pictured here: Chairman Kwon discussing the future of POSCO at the media session on March 14

Synergy of POSCO’s Technology Buttressed by Marketing

POSCO has been emphasizing improvement of the competitiveness of steel which is its core business. Please elaborate on the improvements in more detail and also explain what the role of the Steel Solution Center will play in the future.

Pictured here: Chairman Kwon holding his first executive meeting on March 18

The core of POSCO is its steel business. Therefore, for POSCO to increase its competitiveness, it should strengthen its role as a leading steelmaker. To achieve this, I am planning to integrate marketing strategies to POSCO’s latest technology to create a synergy effect. The Steel Solution Center was also founded with this purpose in mind. Providing customers with integrated marketing and technology solutions will transform the company into a more customer-oriented company. By combining POSCO’s superior technology with the proper marketing strategies will allow us to fulfill customer demands by offering not only the products and techniques that customers want but a total solution.

Researchers must Understand the Field to Provide Customer-Oriented Solutions

According to the researchers at RIST, Chairman Kwon considers marketing side first when developing technology. What is your philosophy behind technology development and marketing? 

Pictured here: Chairman Kwon visiting Pohang Works to greet  employees right after his inauguration

RIST, as well as, POSCO’s subsidiary technology research centers, all carry out research for POSCO. Basically, I think any research center that belongs to a company should commercialize whatever technology they have to contribute to profit making. The series of EVI activities that POSCO does are an example of this. In order to achieve more practical and value-oriented research, researchers should find answers and be close to the actual sites. Furthermore, a system which allows engineers who are working on site to be able to create and apply their technology should be established. Moreover, communication with marketing staff and customers is very important. No matter how good a product is, if it is not aligned with customer needs, it won’t be sold. Therefore, POSCO is putting researchers in marketing departments to produce solutions that address customer needs.

Evaluation of Internal Competitiveness, Market Attractiveness, Entry Barriers and More

Are there specific plans for improving financial structure against the decline of steel demand and an oversupply caused by the global economic depression?

Pictured here: Chairman Kwon delivering his speech at the 46^th Shareholder’s Meeting on March 14

Presently, the biggest challenge for POSCO is improving financial structure. First of all, some businesses we think have little correlation will be listed on the stock exchange and restructured. Going forward we will try get our business direction aligned with shareholders in order to get more investments and improve debt ratios. We also have plans to re-examine existing businesses. We will consider internal competitiveness, market attractiveness, entry barriers and more to assess the businesses we should focus on and continue.

As the 8^th CEO of POSCO, how will you ensure equality for POSCO’s election & succession process?

Starting this year, a more fair system for CEO succession was performed. Outside directors were the core members of the Succession Council and only one internal director was involved. Chosen outside directors were not influenced by any external stakeholders. In addition, the candidate selection committee was composed of only outside directors to ensure fairness. I also went through a fairly rigorous interview process which made me feel like I was doing college admissions interviews again (laughs).

What are POSCO’s views on the changing domestic steel industry?

Until now, POSCO has been sort of the elder brother of the domestic steel industry. However competition has increased in the domestic market now. While there is no longer a monopoly, the increase in competition has helped Korean steel business become more advanced. Through healthy competition, the domestic steel industry has been able to grow. Cooperation and healthy domestic competition will help Korean companies become more globally competitive. Furthermore, cooperation and involvement in Steel Associations is integral to addressing environmental issues such as carbon emissions.