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.

 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