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		<title>smartization &#8211; Official POSCO Group Newsroom</title>
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		<link>https://newsroom.posco.com/en</link>
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            <title>smartization &#8211; Official POSCO Group Newsroom</title>
            <link>https://newsroom.posco.com/en</link>
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        <currentYear>2018</currentYear>
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		<description>What's New on POSCO Newsroom</description>
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					<item>
				<title>POSCO&#8217;s Another Innovation, &#8216;Steel Gallery&#8217;</title>
				<link>https://newsroom.posco.com/en/poscos-another-innovation-steel-gallery/</link>
				<pubDate>Thu, 19 Apr 2018 21:00:44 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[Steel Matters]]></category>
		<category><![CDATA[50th anniversary]]></category>
		<category><![CDATA[artistic]]></category>
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		<category><![CDATA[inspiration]]></category>
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		<category><![CDATA[smartization]]></category>
		<category><![CDATA[Steel Gallery]]></category>
		<category><![CDATA[style]]></category>
		<category><![CDATA[VR]]></category>
									<description><![CDATA[In celebration of the 50th anniversary, POSCO has renovated the exhibition hall with the style of smartization named as ‘Steel Gallery’. &#160; Future of steel]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">In celebration of the 50th anniversary, POSCO has renovated the exhibition hall with the style of smartization named as ‘Steel Gallery’.</span></p>
<div id="attachment_13896" style="width: 710px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_4.png" target="_blank" rel="noopener"><img class="wp-image-13896" src="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_4.png" alt="lightweightvehiclelifebetterlifeeastier" width="700" height="411" /></a><p class="wp-caption-text">POSCO will make your life better and easier</p></div>
<p>&nbsp;</p>
<h2><b>Future of steel is still bright</b></h2>
<p><span style="font-weight: 400;">The main theme of the new Steel Gallery is ‘Harmony’ which represents that steel will be together with humanity for the next generation. The gallery is mainly composed with future advanced technology that gives incredible experiences of high class technology in POSCO’s world premium products.</span></p>
<p><span style="font-weight: 400;">One of the technologies we can proudly recommend to feel in our gallery is electric vehicle section. POSCO recognized that future vehicle trend will be dramatically changed with renewable energy such as electrically fueled vehicles. In the Gallery, POSCO introduced its own technology that plays a crucial part for future generation of vehicles such as <a href="http://pulsenews.co.kr/view.php?year=2016&amp;no=896754" target="_blank" rel="noopener">lightweight frame</a> and various solutions.</span></p>
<div id="attachment_13896" style="width: 710px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_1.png" target="_blank" rel="noopener"><img class="wp-image-13896" src="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_1.png" alt="advancedtechnologyVRvirtualrealitysteel" width="700" height="411" /></a><p class="wp-caption-text">VR technology allows giving vivid experience about steel</p></div>
<p>&nbsp;</p>
<h2><b>Steel will be still with us</b></h2>
<p><span style="font-weight: 400;">Another theme of the gallery is close to human life. One specific feature that the gallery makes so impressive is smart system, an interactive wall that helps better understanding of steel to the people who are not familiar with steel. Animated images of steel processing and VR Virtual Reality) are the good examples of smart POSCO. These advanced elements describes important role of steel for our future life.</span></p>
<div id="attachment_13896" style="width: 710px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_6.png" target="_blank" rel="noopener"><img class="wp-image-13896" src="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_6.png" alt="kineticartssteelcollabration" width="700" height="411" /></a><p class="wp-caption-text">Collaboration of visual art and steel expressing the steel in our life</p></div>
<p>&nbsp;</p>
<h2><b>‘Kinetic Steel’, Harmony with kinetic art</b></h2>
<p><span style="font-weight: 400;">Finally, Steel Gallery shows fabulous collaborations of art work and steel in terms of kinetic art (also may refer to kinetic steel). For instance, shattered pieces of steel gathered and shape several objects that we can easily see in our life, such as vehicles, buildings and so on. POSCO expects that this incredible artistic feature may bring positive inspiration about steel.</span></p>
<div id="attachment_13896" style="width: 710px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_3.png" target="_blank" rel="noopener"><img class="wp-image-13896" src="https://newsroom.posco.com/en/wp-content/uploads/2018/05/000418_3.png" alt="convenientPOSCOpremiumproductsteelgallery" width="700" height="411" /></a><p class="wp-caption-text">Convenient access to POSCO’s premium products at Steel Gallery on the 2nd floor</p></div>
<p><span style="font-weight: 400;">As it mentioned above, the ultimate purpose of the Steel Gallery is to get closer to all generations by showing diverse technologies and visual impacts so that general population understand that steel is one of the fundamental elements of our current and even for the future life. POSCO will continue to make efforts for ‘better life for humanity’. The clips below represents that we also hope our achievements bring positive inspiration in global scale.<br />
</span></p>
<div class="video_wrap" style="text-align: center;"><iframe src="https://www.youtube.com/embed/5A2Uu8T0QGw?rel=0" width="600" height="300" allowfullscreen="allowfullscreen"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span></span></iframe></div>
]]></content:encoded>
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				<title>POSCO CEO Ohjoon Kwon Visits CES 2018</title>
				<link>https://newsroom.posco.com/en/posco-ceo-ohjoon-kwon-visits-ces-2018/</link>
				<pubDate>Fri, 12 Jan 2018 21:01:16 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
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									<description><![CDATA[POSCO CEO Ohjoon Kwon attended CES 2018, the world’s largest home appliance and IT Expo, held in Las Vegas. This was CEO Kwon’s first time attending CES and he]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">POSCO CEO Ohjoon Kwon attended CES 2018, the world’s largest home appliance and IT Expo, held in Las Vegas. This was CEO Kwon’s first time attending CES and he was accompanied by Doo-hwan Choi, CEO of POSCO ICT, and Mi-hwa Park, head of POSCO Information Planning Department. </span></p>
<p><span style="font-weight: 400;">Since last February, CEO Kwon has visited Siemens, GE and other businesses in Silicon Valley to explore new technologies and expand POSCO Group’s smartization plan. At CES 2018, CEO Kwon saw first-hand the latest smart technologies and plans to implement them to all of POSCO’s core businesses including steel, construction, IT and energy. He also met officials from leading smart companies such as GE and DPR Construction, and examined possibilities for cooperation over commercializing POSCO’s smart solutions.</span></p>
<p><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon.jpg" target="_blank"><img class="aligncenter wp-image-13557 size-full" src="https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon.jpg" alt="CEO Kwon explores CES 2018" width="800" height="600" srcset="https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon-768x576.jpg 768w" sizes="(max-width: 800px) 100vw, 800px" /></a></p>
<p><span style="font-weight: 400;">POSCO Kwon met Heilmann Matthias, President and CEO of Digital Solutions at Baker Hughes General Electric (BHGE). Matthias oversees the digital solution business of GE Group, and the two discussed the development of PosFrame, POSCO’s proprietary smart platform, its compatibility with Predix, GE’s smart platform, as well as the possibility for joint commercialization.</span></p>
<p><span style="font-weight: 400;">In particular, POSCO ICT is planning to sign an MOU with DPR Construction, the world leader in Smart Construction, to collaborate on smart projects and find opportunities to apply new ICT technologies to construction. Through this MOU, the two companies will cooperate on projects such as constructing and operating highly-efficient, low-cost data centers and smart factories controlled by PosFrame.</span></p>
<p><span style="font-weight: 400;">CEO Kwon also visited the automobiles, home appliances, smart city and smart home exhibition booths. He examined the latest tech trends of IT utilization in steel-consuming industries to develop compatible materials and steel solutions. </span></p>
<p><span style="font-weight: 400;">He also made sure to explore electric vehicle (EV) batteries and new IT technologies surrounding EVs, as lithium materials are the new growth engine of the company. CEO Kwon also evaluated the possibility of securing new markets for the group’s construction business at home and abroad.</span></p>
<p><span style="font-weight: 400;">POSCO Group plans to continue searching for new, innovative solutions to apply to its smartization efforts and actively develop domestic and overseas data centers and smart factory markets.</span></p>
<p><span style="font-weight: 400;">Cover photo courtesy of </span><a href="http://bgr.com/2018/01/10/best-of-ces-2018-top-10-new-products-final/" target="_blank"><span style="font-weight: 400;">BGR</span></a><span style="font-weight: 400;">.</span></p>
]]></content:encoded>
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					<item>
				<title>Building on a Year of Success: POSCO’s Top 9 News of 2017</title>
				<link>https://newsroom.posco.com/en/building-year-success-poscos-top-9-news-2017/</link>
				<pubDate>Thu, 04 Jan 2018 16:51:33 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
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									<description><![CDATA[Happy new year from the Steel Wire! It’s a new year and new chance to accomplish those new year’s resolutions, but success is often built on past achievements.]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">Happy new year from the Steel Wire! It’s a new year and new chance to accomplish those new year’s resolutions, but success is often built on past achievements. POSCO plans to build on all of its achievements in the past year to continue growing in 2018. Check out some of the most successful moments of 2017. </span></p>
<h2><b>1. #Winning &#8211; competitiveness and sustainability</b></h2>
<p><span style="font-weight: 400;">POSCO was recently named the world&#8217;s</span><a href="https://newsroom.posco.com/en/named-worlds-competitive-steelmaker-wsd/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;"> most competitive steelmaker</span></a><span style="font-weight: 400;"> for the eighth consecutive year by </span><a href="http://www.worldsteeldynamics.com/" target="_blank" rel="noopener"><span style="font-weight: 400;">World Steel Dynamics</span></a><span style="font-weight: 400;"> (WSD). POSCO again took home the gold with the highest scores in five categories including innovative technology, cost reduction, skill level of labor, restructuring and investment environment. </span></p>
<div id="attachment_13502" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Fireworks.jpg" target="_blank" rel="noopener"><img class="wp-image-13502" src="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Fireworks-1024x433.jpg" alt="Fireworks light up the night sky." width="600" height="254" srcset="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Fireworks-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Fireworks-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Fireworks-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Fireworks.jpg 1300w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">POSCO is the world’s most competitive steelmaker.</p></div>
<p><span style="font-weight: 400;">Not only did POSCO come out on top for competitiveness, the company was ranked 35th among the “Global 100 Most Sustainable Corporations in the World in 2017,” by Toronto-based magazine and research firm </span><a href="http://www.corporateknights.com/" target="_blank" rel="noopener"><span style="font-weight: 400;">Corporate Knights</span></a><span style="font-weight: 400;">. The list was announced in early 2017 at the World Economic Forum in Davos, Switzerland. This is the third consecutive year POSCO made the list with outstanding scores in safety, environment and the salary levels of employees. </span></p>
<h2><b>2. Joining the trillion club</b></h2>
<p><span style="font-weight: 400;">POSCO entered the trillion club twice in 2017 as it recorded USD 1.283 billion (KRW 1.365 trillion) of operating profits in the first quarter, and USD 1.0581 billion (KRW 1.1257 trillion) in the third quarter based on its consolidated operating profit. Even in the midst of global oversupply and governments opting for protectionist policies, POSCO’s profits were unscathed. Much of the credit is owed to the company’s steel and non-steel affiliates overseas with strong sales performances. The consolidated debt-to-equity ratio was the lowest since 2010 and the non-consolidated debt-to-equity ratio was at its lowest ever. </span></p>
<div id="attachment_13503" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Operating-Profit.jpg" target="_blank" rel="noopener"><img class="wp-image-13503" src="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Operating-Profit-1024x433.jpg" alt="Image representative of graphs and stock prices." width="600" height="254" srcset="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Operating-Profit-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Operating-Profit-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Operating-Profit-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Operating-Profit.jpg 1300w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">POSCO recorded an operating profit over KRW 1 trillion in the first and third quarter of 2017.</p></div>
<p><span style="font-weight: 400;">To add, international credit rating agency </span><a href="https://www.standardandpoors.com/en_US/web/guest/home" target="_blank" rel="noopener"><span style="font-weight: 400;">S&amp;P</span></a><span style="font-weight: 400;"> upgraded </span><a href="https://newsroom.posco.com/en/sp-upgrades-poscos-outlook-stable/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">POSCO&#8217;s BBB-plus credit rating outlook to “stable” </span></a><span style="font-weight: 400;">last February, and </span><a href="https://www.moodys.com/" target="_blank" rel="noopener"><span style="font-weight: 400;">Moody&#8217;s</span></a><span style="font-weight: 400;"> also upgraded POSCO’s long-term corporate credit rating outlook to </span><a href="https://newsroom.posco.com/en/moodys-upgrades-poscos-credit-rating-outlook-positive/ ?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">“positive” on October 26</span></a><span style="font-weight: 400;">. </span></p>
<h2><b>3. Everything’s bigger in&#8230;POSCO</b></h2>
<p><span style="font-weight: 400;">Last June, after 102 days of repair, <a href="https://newsroom.posco.com/en/posco-gets-smart-pohang-blast-furnace-no-3/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">Pohang Blast Furnace No.3</a> became the world’s fifth-largest blast furnace. Its internal volume expanded from 4350㎥ to 5600㎥, allowing the super-sized blast furnace to put out 15,000 tons of molten metal daily. POSCO currently operates five super-sized blast furnaces, or blast furnaces sized 5500㎥ or larger. </span></p>
<div id="attachment_13504" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Pohang-Blast-Furnace-No.-3.jpg" target="_blank" rel="noopener"><img class="wp-image-13504" src="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Pohang-Blast-Furnace-No.-3-1024x433.jpg" alt="Pohang Blast Furnace No. 3 under construction." width="600" height="254" srcset="https://newsroom.posco.com/en/wp-content/uploads/2018/01/Pohang-Blast-Furnace-No.-3-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Pohang-Blast-Furnace-No.-3-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Pohang-Blast-Furnace-No.-3-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/Pohang-Blast-Furnace-No.-3.jpg 1300w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">Pohang Blast Furnace No. 3 under construction.</p></div>
<p><span style="font-weight: 400;">POSCO further upgraded Pohang Blast Furnace No.3 by adding in AI capabilities. It is now equipped with smart technology that can control the internal state of the blast furnace automatically, and smart sensors can now predict accidents before they happen, extending the lifespan of the furnace. Furthermore, POSCO plans to collect big data from the blast furnace and use it to develop fully smart blast furnaces in the future. </span></p>
<h2><b>4. The smarter the better</b></h2>
<p><span style="font-weight: 400;">Since his taking up the CEO position in 2014, POSCO CEO Ohjoon Kwon has repeatedly expressed his vision for securing future competitiveness through smart solutions. The company even started a smartization training course for employees and held the <a href="https://newsroom.posco.com/en/posco-expands-smartization-clients-affiliates/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">Smart POSCO Forum 2017</a> last July to share its insights and progress with clients and affiliates.</span></p>
<div id="attachment_13498" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Smart-Manufacturing.jpg" target="_blank" rel="noopener"><img class="wp-image-13498" src="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Smart-Manufacturing.jpg" alt="A worker in a smart factory controlling robots with a smart tablet." width="600" height="244" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Smart-Manufacturing.jpg 970w, https://newsroom.posco.com/en/wp-content/uploads/2017/12/Smart-Manufacturing-800x326.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/12/Smart-Manufacturing-768x313.jpg 768w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">POSCO is gaining a competitive edge through smart solutions. (Source: <a href="http://www.globaltrademag.com/global-trade-daily/policymakers-need-bolster-smart-manufacturing" target="_blank" rel="noopener">Global Trade Magazine</a>)</p></div>
<p><span style="font-weight: 400;">Moreover, POSCO also supported a smart talent training project customized for SMEs. The program included job training for AI and big data application technologies. Going forward, POSCO plans to build a “Smart Industry” to increase steel competitiveness and create new business opportunities with new, smart technologies.</span></p>
<p><strong>SEE ALSO: <a href="https://newsroom.posco.com/en/factories-produce-steel-smart-way/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">How Factories Produce Steel- the Smart Way</a></strong></p>
<h2><b>5. Getting in on electric vehicles</b></h2>
<p><span style="font-weight: 400;">The market for electric vehicles (EVs) is an exciting one with so many companies investing in new technologies. POSCO also hopes to extend its customized material and technology solutions to EV manufacturers. Last October, the company held the </span><a href="https://newsroom.posco.com/en/posco-automakers-solution-partner-age-electric-vehicles/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">Global EV Materials Forum</span></a><span style="font-weight: 400;"> to showcase four of its core business areas: lightweight bodies, batteries, motors and charging infrastructure. More than 380 clients took part in the forum to learn about emerging trends and POSCO’s products and services including POSCO GIGA STEEL and commercially produced lithium batteries for EVs. </span></p>
<div id="attachment_13492" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Electric-Vehicle.jpg" target="_blank" rel="noopener"><img class="wp-image-13492" src="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Electric-Vehicle.jpg" alt="An electric vehicle being charged." width="600" height="387" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Electric-Vehicle.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/12/Electric-Vehicle-768x495.jpg 768w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">POSCO is a solutions provider for EV manufacturers. (Source: <a href="https://www.bloomberg.com/gadfly/articles/2017-07-13/electric-vehicle-takeover-think-different" target="_blank" rel="noopener">Bloomberg</a>)</p></div>
<p>&nbsp;</p>
<h2><b>6. POSCO’s new marketing approach</b></h2>
<p><span style="font-weight: 400;">For the first time ever, POSCO created and aired a TV commercial highlighting a specific product, instead of its corporate brand. This marks POSCO’s first B2C marketing effort and features the company’s innovative auto steel, POSCO GIGA STEEL. The commercial compares POSCO GIGA STEEL to aluminum, another widely-used lightweight material in a visual demonstration so that everyday drivers can better understand the benefits of a stronger yet lighter material. </span></p>
<div class="video_wrap"><iframe src="https://www.youtube.com/embed/AuibHcF8Jjs?rel=0" width="300" height="150" allowfullscreen="allowfullscreen"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"><span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start">﻿</span></span></iframe></div>
<p>&nbsp;</p>
<h2><b>7. Going for 10 million tons of automotive steel</b></h2>
<p><span style="font-weight: 400;">On April 26, </span><a href="https://newsroom.posco.com/en/posco-completes-automotive-steel-plant-exclusively-posco-giga-steel/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">POSCO completed 7CGL</span></a><span style="font-weight: 400;">, a new steel production facility in Gwangyang, Korea, designed exclusively for the production of POSCO GIGA STEEL. 7CGL has an annual capacity of 500,000 tons and is the world&#8217;s first plant capable of producing both 1.5 giga-level galva-annealed (GA) and galvanized (GI) steel sheets. </span></p>
<div id="attachment_13491" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/12/7CGL.jpg" target="_blank" rel="noopener"><img class="wp-image-13491" src="https://newsroom.posco.com/en/wp-content/uploads/2017/12/7CGL.jpg" alt="Groundbreaking ceremony for POSCO’s 7CGL." width="600" height="363" /></a><p class="wp-caption-text">POSCO Completed 7CGL on April 26, 2017. (Source: <a href="http://businesskorea.co.kr/english/news/industry/11932-car-steel-posco-expand-high-end-auto-steel-production" target="_blank" rel="noopener">Business Korea</a>)</p></div>
<p><span style="font-weight: 400;">In addition, POSCO managed to reduce investment funds and secure cost competitiveness by designing and constructing 7CGL’s core facilities based on accumulated facility technologies and operating know-how. The 7CGL is POSCO&#8217;s 12th plant exclusively for automotive steel sheets, and POSCO aims to sell 10 million tons of automotive steel in 2018 globally.  </span></p>
<h2><b>8. Setting new records with high manganese</b></h2>
<p><span style="font-weight: 400;">POSCO became the first company in the world to commercialize the technology for producing high manganese using fusible ferroalloys. The technology took KRW 5.5 billion of research and development costs and four years to complete.</span></p>
<div id="attachment_13493" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/12/High-Manganese.jpg" target="_blank" rel="noopener"><img class="wp-image-13493" src="https://newsroom.posco.com/en/wp-content/uploads/2017/12/High-Manganese.jpg" alt="Manganese. " width="600" height="291" /></a><p class="wp-caption-text">POSCO is the first company in the world to commercialize its high manganese production technology. (Source: <a href="http://www.eramet.com/en/our-activities/extracting-generating-value/manganese/our-products/mma-high-manganese-lumpy-ore" target="_blank" rel="noopener">Eramet</a>)</p></div>
<p><span style="font-weight: 400;">The core part of POSCO&#8217;s high manganese production process is PosLM (POSCO Liquid Manganese), a special holding furnace that stores manganese ferroalloys in a fusible state. POSCO’s technology <a href="https://newsroom.posco.com/en/posco-cuts-production-time-half-manganese-steel/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">reduces the production time</a> for high manganese steel by more than 50 percent as well as increases slab production efficiency. PosLM was jointly researched and developed by the Institute of Technology and POSCO M-tech. </span></p>
<h2><b>9. Bringing home the lithium </b></h2>
<p><span style="font-weight: 400;">On February 7, POSCO opened its <a href="https://newsroom.posco.com/en/steel-company-changing-rechargeable-battery-industry/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">PosLX</a> (POSCO Lithium Extraction) plant with an annual capacity of 2,500 tons. The plant is the first plant in Korea capable of commercial lithium production. The technology took 7 years to perfect, but it was well worth it. The production process for high purity lithium now takes just 3 months, compared to the previous 12 to 18 months. </span></p>
<div id="attachment_13494" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Lithium.jpg" target="_blank" rel="noopener"><img class="wp-image-13494" src="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Lithium.jpg" alt="Mounds of lithium salts." width="600" height="400" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/12/Lithium.jpg 900w, https://newsroom.posco.com/en/wp-content/uploads/2017/12/Lithium-800x533.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/12/Lithium-768x512.jpg 768w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">POSCO is making lithium extraction more efficient and sustainable. (Source: <a href="http://www.mining.com/web/is-the-lithium-bubble-about-to-burst/" target="_blank" rel="noopener">Mining</a>)</p></div>
<p><span style="font-weight: 400;">In the past, Korean manufacturers imported the entire quantity of lithium they needed. With POSCO’s PosLX plant, partners now have access to a local supply of lithium. Moreover, POSCO plans to use lithium phosphate extracted from wasted secondary batteries as raw materials, in keeping with the company’s sustainability standards. </span></p>
<p><span style="font-weight: 400;">POSCO will continue building on a successful 2017 in the new year, by tackling new challenges and continuing to provide its partners with customized and optimal solutions in all business areas. </span></p>
<p><span style="font-weight: 400;">Cover photo courtesy of </span><a href="http://hitechbuildingsolution.com/construction-materials/new-materials-for-building-construction/" target="_blank" rel="noopener"><span style="font-weight: 400;">Hitech Building Solutions</span></a><span style="font-weight: 400;">.</span><b></b></p>
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				<title>POSCO Family Kick-off Meeting 2018: A Message from the CEO</title>
				<link>https://newsroom.posco.com/en/posco-family-kick-off-meeting-2018-message-ceo/</link>
				<pubDate>Tue, 02 Jan 2018 20:44:45 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[Press Release]]></category>
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									<description><![CDATA[This year marks a special milestone for POSCO as the company celebrates its 50th anniversary. It has also been 4 years since POSCO CEO Kwon Ohjoon’s]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">This year marks a special milestone for POSCO as the company celebrates its 50th anniversary. It has also been 4 years since POSCO CEO Kwon Ohjoon’s <a href="https://newsroom.posco.com/en/inauguration-oh-joon-kwon-vision-posco-great/?utm_source=blog&amp;utm_medium=social" target="_blank">inauguration </a>as CEO back in 2014, and he has since implemented numerous positive changes. Here are the results of POSCO’s successful restructuring over the past 4 years as well as the company’s vision for the future.</span></p>
<h2><b>Since 2014, POSCO successfully completed 150 cases of restructuring. </b></h2>
<p><span style="font-weight: 400;">Back in the 2000s, POSCO suffered its worst financial crisis due to failed investments in growing businesses. Its consolidated operating profit, which exceeded KRW 7 trillion at one time, recently fell to about KRW 2.5 trillion. POSCO’s cash on hand, which peaked at more than KRW 8 trillion, declined to nearly KRW 5 trillion, and credit ratings worsened as well. </span></p>
<p><span style="font-weight: 400;">That’s when CEO Kwon implemented the <a href="https://newsroom.posco.com/en/celebrating-year-achievement-innovation-posco-festival-2016/?utm_source=blog&amp;utm_medium=social" target="_blank">Innovation POSCO</a> (IP) 1.0 and 2.0 projects successively to innovate the company’s financial structure and began broad-based restructuring. CEO Kwon recalls, &#8220;POSCO sold its non-core steel business, and merged similar businesses to increase efficiency and eliminate waste. We also liquidated low-yielding substandard businesses to prevent the aggravation of insolvency.” </span></p>
<p><span style="font-weight: 400;">As a result, the number of POSCO’s domestic affiliates decreased from 71 to 38, and the number of its overseas affiliates declined from 181 to 124. The company also recovered KRW 7 trillion over the 4-year period, and prevented annual losses of about KRW 400 billion.</span></p>
<p><span style="font-weight: 400;">Moreover, POSCO’s consolidated cash on hand increased to KRW 8.55 trillion at the end of the third quarter, repaid its debts by more than KRW 5 trillion and POSCO’s consolidated debt ratio dwindled to 67.6 percent, the lowest since 2010. Moody’s, an international credit rating agency, recently upgraded the forecast for POSCO’s issuer rating, Baa2, from negative to stable, and then to positive, and predicted that POSCO’s financial health will continue to improve in the next 1-2 years.</span></p>
<h2><b>POSCO’s Future growth strategy is two-track: smartization and development of new growth engines. </b></h2>
<p><span style="font-weight: 400;">CEO Kwon expressed his vision for the company In 2018 and beyond. He said, “POSCO plans to implement <a href="https://newsroom.posco.com/en/posco-expands-smartization-clients-affiliates/?utm_source=blog&amp;utm_medium=social" target="_blank">smartization </a>with efforts such as combining ICT with its core businesses, ranging from steel and energy to construction and chemicals to develop newly converged businesses to lead the 4th Industrial Revolution.” </span></p>
<div id="attachment_13530" style="width: 970px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/01/POSCO-CEO-Kwon-Ohjoon.jpg" target="_blank"><img class="wp-image-13530 size-full" src="https://newsroom.posco.com/en/wp-content/uploads/2018/01/POSCO-CEO-Kwon-Ohjoon.jpg" alt="CEO Kwon delivering his new year’s message at the POSCO Family Kick-off Meeting 2018 held at the Head Office in Pohang on January 2." width="960" height="726" srcset="https://newsroom.posco.com/en/wp-content/uploads/2018/01/POSCO-CEO-Kwon-Ohjoon.jpg 960w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/POSCO-CEO-Kwon-Ohjoon-800x605.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/POSCO-CEO-Kwon-Ohjoon-768x581.jpg 768w" sizes="(max-width: 960px) 100vw, 960px" /></a><p class="wp-caption-text">CEO Kwon delivering his new year’s message at the POSCO Family Kick-off Meeting 2018.</p></div>
<p><strong>SEE ALSO: <a href="https://newsroom.posco.com/en/building-year-success-poscos-top-9-news-2017/?utm_source=blog&amp;utm_medium=social" target="_blank">Building on a Year of Success: POSCO’s Top 9 News of 2017</a></strong></p>
<p><span style="font-weight: 400;">The company will also accelerate the development of smart factories utilizing big data and artificial intelligence, and further enhance core processes for environmentally-friendly, highly-efficient and future-oriented steel mills. </span></p>
<p><span style="font-weight: 400;">In addition, CEO Kwon mentioned that POSCO will carry out new growth businesses this year in the energy and materials sectors. In the energy sector, POSCO will work to stabilize its power generation business, and expand its LNG midstream business by developing the Gwangyang LNG Terminal into the energy hub of Northeast Asia. POSCO is also planning to increase investments in renewable energy and seek business opportunities in line with government policies to reduce greenhouse gas emissions. </span></p>
<p><span style="font-weight: 400;">The company will also work to secure stable supplies of saline water and ores containing <a href="https://newsroom.posco.com/en/fuel-tomorrow-mining-lithium-ev-cars/?utm_source=blog&amp;utm_medium=social" target="_blank">lithium </a>in South America and Australia for its lithium business. It also plans to build accompanying infrastructure for mass production.</span></p>
<p><span style="font-weight: 400;">POSCO will also develop its own manufacturing processes for <a href="https://newsroom.posco.com/en/posco-increases-investments-cathode-materials-business/?utm_source=blog&amp;utm_medium=social" target="_blank">high-capacity cathode</a> and <a href="https://newsroom.posco.com/en/posco-build-smart-factory-high-quality-anode-production/?utm_source=blog&amp;utm_medium=social" target="_blank">anode </a>materials used in secondary cells, and work to increase the sales of electric vehicles at home and abroad. </span></p>
<div id="attachment_13529" style="width: 970px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon-and-Employees.jpg" target="_blank"><img class="wp-image-13529 size-full" src="https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon-and-Employees.jpg" alt="CEO Kwon is exchanging new year's greetings with employees after the kick-off meeting." width="960" height="684" srcset="https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon-and-Employees.jpg 960w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon-and-Employees-800x570.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2018/01/CEO-Kwon-and-Employees-768x547.jpg 768w" sizes="(max-width: 960px) 100vw, 960px" /></a><p class="wp-caption-text">POSCO CEO Kwon Ohjoon greets employees after the kick-off meeting.</p></div>
<p><span style="font-weight: 400;">To close the event, CEO Kwon remarked, “For the next 50 years, let’s make greater efforts toward our goals with a clear and long-term perspective.”</span></p>
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				<title>How Factories Produce Steel- the Smart Way</title>
				<link>https://newsroom.posco.com/en/factories-produce-steel-smart-way/</link>
				<pubDate>Fri, 24 Nov 2017 22:25:31 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[POSCO Reports]]></category>
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		<category><![CDATA[smartization]]></category>
		<category><![CDATA[steel factory]]></category>
		<category><![CDATA[steel industry]]></category>
		<category><![CDATA[steelmaking]]></category>
		<category><![CDATA[sustainability]]></category>
		<category><![CDATA[worker safety]]></category>
									<description><![CDATA[Now more than ever, advanced technology in smart factories is playing a central role in making the steel industry more efficient and sustainable. The]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">Now more than ever, advanced technology in smart factories is playing a central role in making the steel industry more </span><a href="https://newsroom.posco.com/en/siemens-posco-bmw-top-industry-sustainability-index/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">efficient and sustainable</span></a><span style="font-weight: 400;">. The introduction of artificial intelligence, Internet of Things (IoT) and Big Data is looking to change the way manufacturers traditionally produce and manage steel.</span></p>
<p><span style="font-weight: 400;">Here’s a look at how steel is produced in a steel mill or factory, and what the “smartization” of steel factories will look like.</span></p>
<h2><b>So, how is steel made? </b></h2>
<h3><b>Iron Making</b></h3>
<p><span style="font-weight: 400;">To make steel, manufacturers first need molten iron. Molten iron comes from two raw materials; iron ore and coal. Iron ore is converted into sinter ore in a sintering plant and coal is converted into raw coke using a coke oven. The processed materials are poured into a blast furnace where hot air reaching 1200℃ is blown in from the bottom through tuyeres, causing a chemical reaction. This process oxidizes the coke and reduces the sintered ore, creating molten iron.   </span></p>
<h3><b>Steelmaking</b></h3>
<p><span style="font-weight: 400;">In the steelmaking stage, the molten iron is transported to the steel making plant via a torpedo car, where the liquid is poured into a converter. Then, oxygen is blown into the converter to burn off all the impurities. All that is left is pure molten steel. </span></p>
<h3><b>Continuous Casting</b></h3>
<p><span style="font-weight: 400;">This is where steel finally becomes solidified into different shapes such as slab, bloom and billet. Liquid steel is poured into molds and cooled as it passes through a continuous casting machine until it solidifies into the desired shape.</span></p>
<div id="attachment_13264" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/11/Rolling-Process.jpg" target="_blank" rel="noopener"><img class="wp-image-13264 size-full" src="https://newsroom.posco.com/en/wp-content/uploads/2017/11/Rolling-Process.jpg" alt="Red-hot steel is being rolled on a rolling machine." width="600" height="240" /></a><p class="wp-caption-text">Hot steel passes through rolling machines to be rolled into specific sizes and thicknesses. (Source: <a href="http://www.globalsourcingblog.org/steel-production-restriction/" target="_blank" rel="noopener">Global Sourcing Blog</a>)</p></div>
<h3><b>Rolling Process</b></h3>
<p><span style="font-weight: 400;">During the rolling process, steel is heated once more to achieve various sizes and thicknesses. Steel slabs are heated to over 1100℃, then pass through rolling machines. This results in hot-rolled coils that can be shaped for different uses such as thick plates. They can also be processed into long, wire-shaped rods for billets. Often, the hot-rolled coils are rolled at room temperature for cold-rolled coils. Cold-rolled coils can be fabricated to produce galvanized and electrical steel products. </span></p>
<p><a href="https://newsroom.posco.com/en/iron-age-2-0-fourth-industrial-revolution-steel-industry/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">“Smartizating”</span></a><span style="font-weight: 400;"> these processes will involve converging IoT, Big Data, and AI to connect the different facilities, IT systems and workers in order to collect and analyze data for optimization. </span></p>
<h2><b>POSCO is “smartizing” the steel-production process</b></h2>
<p><span style="font-weight: 400;">POSCO is a steel company looking to lead the industry in adopting </span><a href="https://newsroom.posco.com/en/poscos-smart-factory-introduces-artificial-intelligence/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">smart factories</span></a><span style="font-weight: 400;">. CEO Kwon Ohjoon made</span><a href="https://newsroom.posco.com/en/posco-ceo-ohjoon-kwon-emphasizes-smart-industry-weef-gedc-2016/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;"> “smartization” one of the 4 key priorities for POSCO</span></a><span style="font-weight: 400;"> starting back in 2014, and Kwon will continue to increase those investments.</span></p>
<div id="attachment_13272" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/11/POSCO-Smart-Factory.jpg" target="_blank" rel="noopener"><img class="wp-image-13272" src="https://newsroom.posco.com/en/wp-content/uploads/2017/11/POSCO-Smart-Factory-1024x433.jpg" alt="The smart features of POSCO’s smart factory." width="600" height="254" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/11/POSCO-Smart-Factory-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2017/11/POSCO-Smart-Factory-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/11/POSCO-Smart-Factory-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2017/11/POSCO-Smart-Factory.jpg 1300w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">POSCO smart factory incorporates artificial intelligence to enhance safety and efficiency.</p></div>
<p><strong>SEE ALSO: <a href="https://newsroom.posco.com/en/how-smart-factories-are-redefining-the-manufacturing-industry/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">How Smart Factories are Changing the Manufacturing Industry</a></strong></p>
<p><span style="font-weight: 400;">In 2016, POSCO established its Smart Solution Council in order to research AI, big data and IoT applications. In the same year, POSCO ICT’s smart factory platform, PosFrame, was completed and installed in POSCO’s Gwangyang Steel Mill. PosFrame allows engineers to collect and monitor big data. So far, the company has saved over USD 14 million by incorporating the new technology in its production practices. </span></p>
<p><span style="font-weight: 400;">Here are some other features of POSCO’s Smart Factory.</span></p>
<h2><b>POSCO’s Smart Blast Furnace</b></h2>
<p><span style="font-weight: 400;">The </span><a href="https://newsroom.posco.com/en/posco-gets-smart-pohang-blast-furnace-no-3/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">Pohang Blast Furnace No.3</span></a><span style="font-weight: 400;"> became a smart furnace in 2017, following a 102-day repair period. The furnace is now equipped with automated sensors that monitor and control its internal conditions using AI technology. Smart sensors monitor the blast furnace for factors like raw material quality and ventilator status, preventing breakdowns and ensuring a much longer lifecycle.</span></p>
<p><strong>SEE ALSO: <a href="https://newsroom.posco.com/en/will-artificial-intelligence-lead-breakthroughs-steel-industry-2/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener">Will Artificial Intelligence Lead to Breakthroughs in the Steel Industry?</a></strong></p>
<h2><b>Worker Safety</b></h2>
<p><span style="font-weight: 400;">Smart sensors can be used for more than just process monitoring. The company is working toward a full implementation of </span><a href="https://newsroom.posco.com/en/iron-age-2-0-fourth-industrial-revolution-steel-industry/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">smart sensors for safety purposes</span></a><span style="font-weight: 400;">, using IoT to create a better working environment.</span></p>
<p><span style="font-weight: 400;">Steel manufacturing involves high temperatures and high pressure levels, which is dangerous for workers who come in close contact with the equipment. With smart sensors monitoring all of the factory information, workers will instead be monitoring operation from a safe distance.</span></p>
<div id="attachment_12803" style="width: 610px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en//wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1.jpg" target="_blank" rel="noopener"><img class="wp-image-12803" src="https://newsroom.posco.com/en//wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-1024x433.jpg" alt="A POSCO worker wearing smart safety devices." width="600" height="254" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1.jpg 1300w" sizes="(max-width: 600px) 100vw, 600px" /></a><p class="wp-caption-text">Workers in POSCO’s smart factory wear smart sensors for safety.</p></div>
<p><span style="font-weight: 400;">Wearable sensors, in conjunction with factory smart sensors, will be able to detect if and when workers are approaching potentially dangerous areas, and will alert them. These sensors will also detect and alert with regards to any impending accidents, or life-threatening situations like gas leaks, explosions, or fires.</span></p>
<p><span style="font-weight: 400;">Also, dust, sulfur, and nitrogen compounds will be removed via a high-plasma method, creating an eco-friendly steel plant and a healthier environment for workers. </span></p>
<p><span style="font-weight: 400;">POSCO will continue to add more smart features to its steel mills to increase efficiency, safety and sustainability. In efforts to learn and implement new technologies, </span><a href="https://newsroom.posco.com/en/posco-ge-discuss-smart-factory-solutions-partnership/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">POSCO CEO Kwon Ohjoon visited GE&#8217;s smart factories</span></a><span style="font-weight: 400;"> to learn about their technology earlier this year. POSCO also held the </span><a href="https://newsroom.posco.com/en/posco-expands-smartization-clients-affiliates/?utm_source=blog&amp;utm_medium=social" target="_blank" rel="noopener"><span style="font-weight: 400;">2017 Smart POSCO Forum</span></a><span style="font-weight: 400;"> to share its insights with clients and affiliates, all as part of its expanding smartization efforts.</span></p>
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				<title>Applying AI to the Manufacturing Industry</title>
				<link>https://newsroom.posco.com/en/ask-expert-applying-ai-manufacturing-industry-2/</link>
				<pubDate>Mon, 11 Sep 2017 14:55:18 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[Business]]></category>
		<category><![CDATA[2017 Smart POSCO Fourm]]></category>
		<category><![CDATA[AI]]></category>
		<category><![CDATA[ai factory]]></category>
		<category><![CDATA[ai manufacturing]]></category>
		<category><![CDATA[artificial intelligence]]></category>
		<category><![CDATA[Big Data]]></category>
		<category><![CDATA[collaboration]]></category>
		<category><![CDATA[environment]]></category>
		<category><![CDATA[Hyundai Motor Group]]></category>
		<category><![CDATA[IIOT]]></category>
		<category><![CDATA[industry]]></category>
		<category><![CDATA[infoscience]]></category>
		<category><![CDATA[Innovation]]></category>
		<category><![CDATA[iot]]></category>
		<category><![CDATA[manufacturing]]></category>
		<category><![CDATA[POSCO]]></category>
		<category><![CDATA[posco ai]]></category>
		<category><![CDATA[POSCO ICT]]></category>
		<category><![CDATA[POSTECH]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[sales]]></category>
		<category><![CDATA[smart]]></category>
		<category><![CDATA[smart city]]></category>
		<category><![CDATA[smart facory]]></category>
		<category><![CDATA[Smart Factory]]></category>
		<category><![CDATA[smart manufacturing]]></category>
		<category><![CDATA[Smart Solution Council]]></category>
		<category><![CDATA[smart steel]]></category>
		<category><![CDATA[smartization]]></category>
		<category><![CDATA[steel plant]]></category>
		<category><![CDATA[steel production]]></category>
		<category><![CDATA[sungkyunkwan]]></category>
		<category><![CDATA[sungkyunkwan university]]></category>
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		<category><![CDATA[USD]]></category>
									<description><![CDATA[The value of artificial intelligence (AI) in the manufacturing market was USD 272.5 million in 2016. That number is projected to reach USD 4,882.9 million by]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">The value of artificial intelligence (AI) in the manufacturing market was USD 272.5 million in 2016. That number is projected to reach USD 4,882.9 million by 2023, at a CAGR of 52.42 percent from 2017 to 2023 according to </span><a href="http://www.marketsandmarkets.com/PressReleases/artificial-intelligence-manufacturing.asp" target="_blank" rel="noopener"><span style="font-weight: 400;">Markets and Markets</span></a><span style="font-weight: 400;">. It’s no surprise then, that companies are rushing to boost their competitiveness with AI.</span></p>
<div id="attachment_12803" style="width: 650px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en//wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1.jpg" target="_blank" rel="noopener"><img class="wp-image-12803 size-large" src="https://newsroom.posco.com/en//wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-1024x433.jpg" alt="POSCO’s smart safety features" width="640" height="271" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/POSCO’s-Smart-Safety-1.jpg 1300w" sizes="(max-width: 640px) 100vw, 640px" /></a><p class="wp-caption-text">POSCO’s smart safety features</p></div>
<p><span style="font-weight: 400;">As a steelmaking company, POSCO ha</span><span style="font-weight: 400;">s been working towards becoming a “</span><a href="https://newsroom.posco.com/en/posco-expands-smartization-clients-affiliates/" target="_blank" rel="noopener"><span style="font-weight: 400;">Smart POSCO</span></a><span style="font-weight: 400;">”, or incorporating the implementation of AI into their production practices. In 2016, POSCO established a Smart Solution Council to research AI, big data and IoT applications. To date, the company has achieved a cost reduction of USD 14 million with the new technology. Even as one of the first steel producers in the world to implement a </span><a href="https://newsroom.posco.com/en/how-smart-factories-are-redefining-the-manufacturing-industry/" target="_blank" rel="noopener"><span style="font-weight: 400;">smart factory</span></a><span style="font-weight: 400;"> for production, the road ahead is a long one. Members of the discussion panel at the 2017 Smart POSCO Forum offered their expert opinions on how companies should move forward with AI research and applications.</span></p>
<h2><b>Problem Mining</b></h2>
<p><span style="font-weight: 400;">“One of the biggest difficulties in applying AI to manufacturing companies is problem mining. The only way to solve a problem is to find it and define it.” </span><a href="http://www.postech.ac.kr/eng/research/research-activities/faculty-directory/faculty-directory-view/?pid=00020606" target="_blank" rel="noopener"><span style="font-weight: 400;">Kim Byung-In</span></a><span style="font-weight: 400;">, a professor at the </span><a href="http://www.postech.ac.kr/eng/" target="_blank" rel="noopener"><span style="font-weight: 400;">POSTECH</span></a><span style="font-weight: 400;"> Department of Industrial and Management Engineering, started off discussions and added, “Along with problem mining, people can learn from the past with reinforcement learning. Reinforcement learning means learning through similar tasks from the past to apply to new assignments. Defining problems and solutions more precisely and systematically managing related keywords can be useful for future tasks.”</span></p>
<p><span style="font-weight: 400;">Professor </span><a href="http://eng.snu.ac.kr/node/10079" target="_blank" rel="noopener"><span style="font-weight: 400;">Zhang Byoung Tak</span></a><span style="font-weight: 400;">, an AI professor at </span><a href="http://en.snu.ac.kr/" target="_blank" rel="noopener"><span style="font-weight: 400;">Seoul National University</span></a><span style="font-weight: 400;"> and a distinguished professor for POSCO added, “Traditionally, people solve problems, but in the generation of AI, AI will be able to solve problems for us&#8230; People now have to focus on defining problems, implementing systems and getting the right kind of data.” </span></p>
<h2><b>Cooperative Research and Investment</b></h2>
<p><span style="font-weight: 400;">Along with defining the exact problems that AI can provide solutions for, the implementation of AI will also call for a new working culture for companies and industries. </span></p>
<p><span style="font-weight: 400;">Tech company </span><a href="https://www.vuno.co/" target="_blank" rel="noopener"><span style="font-weight: 400;">VUNO </span></a><span style="font-weight: 400;">CTO Jung Gyuhwan stated, “Each company has its own production or operation method, and different data formats and protocols, but product inspection and screen UI (User Interface) are common areas. If we can find such common areas that can be commercialized and continue to research ways to expand AI applications to different sectors, we can achieve meaningful results together.”</span></p>
<div id="attachment_12807" style="width: 650px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/09/Research-and-Development.jpg"><img class="size-large wp-image-12807" src="https://newsroom.posco.com/en/wp-content/uploads/2017/09/Research-and-Development-1024x433.jpg" alt="Researchers developing programming and coding technologies" width="640" height="271" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/09/Research-and-Development-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/Research-and-Development-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/Research-and-Development-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/Research-and-Development.jpg 1300w" sizes="(max-width: 640px) 100vw, 640px" /></a><p class="wp-caption-text">Researchers developing programming and coding technologies</p></div>
<p><span style="font-weight: 400;">Jung went on to highlight that most AI personnel are unfamiliar with manufacturing. In particular, steel production terms are so difficult that it takes a considerable amount of time to share and understand information. There are also numerous obstacles and obligations for startups entering an unfamiliar development environment full of regulations and restrictions on things like the use of codes.</span></p>
<p><span style="font-weight: 400;">“In other words, task efficiency is a trade off with information security. I believe that if there is such a process in POSCO where the risk of technology leakage is not high, it will speed up results through collaboration with start-ups. <a href="http://www.posco.co.kr/homepage/docs/eng5/jsp/family/poscoict.jsp?mdex=posco6EA" target="_blank" rel="noopener">POSCO ICT</a> in Pangyo is a good place for startup employees to work. If we can take advantage of the POSCO ICT databases, collaboration with start-up companies will be easier. As of now, there are not many AI companies in Korea that specialize in manufacturing. Most people don&#8217;t even know that there is a lot of data available in the manufacturing industry. That&#8217;s why fostering start-up companies specializing in manufacturing now, is a good idea.”</span></p>
<div id="attachment_12779" style="width: 650px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en//wp-content/uploads/2017/09/The-announcement-of-Google’s-acquisition-of-Kaggle.jpg" target="_blank" rel="noopener"><img class="wp-image-12779 size-large" src="https://newsroom.posco.com/en//wp-content/uploads/2017/09/The-announcement-of-Google’s-acquisition-of-Kaggle-1024x768.jpg" alt="Google's Fei-Fei Li announces Google’s acquisition of Kaggle during a conference in San Francisco, CA." width="640" height="480" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/09/The-announcement-of-Google’s-acquisition-of-Kaggle-1024x768.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/The-announcement-of-Google’s-acquisition-of-Kaggle-800x600.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/The-announcement-of-Google’s-acquisition-of-Kaggle-768x576.jpg 768w" sizes="(max-width: 640px) 100vw, 640px" /></a><p class="wp-caption-text">Google&#8217;s Fei-Fei Li announces Google’s acquisition of Kaggle. (Source: Venture Beat)</p></div>
<p><span style="font-weight: 400;">According to </span><a href="https://www.cbinsights.com/research/artificial-intelligence-mergers-acquisitions-exits/" target="_blank" rel="noopener"><span style="font-weight: 400;">CB Insights</span></a><span style="font-weight: 400;">, M&amp;A (mergers and acquisitions) of AI startups have increased 700 percent since 2011, because they are more efficient and often more insightful when it comes to AI research. Besides investing in existing startups, members of the panel agreed that collaborative competitions such as </span><a href="https://www.kaggle.com/" target="_blank" rel="noopener"><span style="font-weight: 400;">Kaggle</span></a><span style="font-weight: 400;">, a contest platform where data scientists from around the world participate in solving problems in industry and society, are a great place to find talent and foster them as start-up companies.</span></p>
<h2><b>Tackling New Challenges</b></h2>
<p><span style="font-weight: 400;">The flurry of activity around AI research shows just how new the sector really is. People are still finding ways to apply AI across different sectors and industries. In such a volatile environment, how do companies and researchers navigate their way forward? </span></p>
<p><span style="font-weight: 400;">According to </span><a href="http://pro.handong.edu/hchoi/" target="_blank" rel="noopener"><span style="font-weight: 400;">Choi Heeyoul</span></a><span style="font-weight: 400;">, a professor of computer science at </span><a href="https://www.handong.edu/eng/" target="_blank" rel="noopener"><span style="font-weight: 400;">Handong Global University</span></a><span style="font-weight: 400;">, companies need to “start where the people, problem definition and data are ready. Whether it is in production, sales, distribution, etc., if there is the will to solve problems, then results will follow. Especially when collecting data, you need the help of data analysts. For example, classification data for different types of steel can only be analyzed if the history of the classification criteria is recorded. Speech recognition is not any better for AI application than other fields, yet the most active and productive research has been completed in this sector. This is attributable to the will to apply AI, the abundance of accurate data and close cooperation with data analysts.”</span></p>
<div id="attachment_12806" style="width: 650px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en/wp-content/uploads/2017/09/Data-Analysis.jpg" target="_blank" rel="noopener"><img class="wp-image-12806 size-large" src="https://newsroom.posco.com/en/wp-content/uploads/2017/09/Data-Analysis-1024x433.jpg" alt="A data analyst holds up a tablet with charts and tables showing statistics" width="640" height="271" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/09/Data-Analysis-1024x433.jpg 1024w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/Data-Analysis-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/Data-Analysis-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2017/09/Data-Analysis.jpg 1300w" sizes="(max-width: 640px) 100vw, 640px" /></a><p class="wp-caption-text">Obtaining accurate data is vital for AI research</p></div>
<p>Professor Zhang Byung-Tak had another approach to offer. “I hope people will boldly take on challenges. The dramatic increase in computing power can now enable attempts that were previously considered reckless&#8230;No matter how much data we gather, it will never be enough. We need to approach problems as experiments and just start. One way to go about it is to work in reverse instead of waiting for data to be accumulated. You can start the task to define the data that is needed and determine the coherence of the data to the task.”</p>
<p><a href="https://sites.google.com/site/skkuinfosci/people/professor" target="_blank" rel="noopener"><span style="font-weight: 400;">Lee Jong-Seok</span></a><span style="font-weight: 400;">, a Professor at </span><a href="http://www.skku.edu/eng_home/index.jsp" target="_blank" rel="noopener"><span style="font-weight: 400;">Sungkyunkwan University</span></a><span style="font-weight: 400;"> added, “When we are defining problems, we need to separate them into ones that can be solved in the short term and ones that require long term solutions. Some problems can be solved with minor improvements, while other problems will persist. For the latter, it is important to have patience and invest in a solution over a long term.” </span></p>
<p><span style="font-weight: 400;">That’s exactly what manufacturing companies are doing. They are collecting data every stage of production all the way to sales and administration. Big data is now available to study and apply to boost companies’ efficiency, sustainability and performance. Those who come up with the optimal software and modeling systems for data analytics will win the competitive edge early on. </span></p>
<p><a href="http://news.unist.ac.kr/" target="_blank" rel="noopener"><span style="font-weight: 400;">UNIST</span></a><span style="font-weight: 400;"> professor </span><a href="http://sail.unist.ac.kr/members/jaesik/" target="_blank" rel="noopener"><span style="font-weight: 400;">Choi Jaesik</span></a><span style="font-weight: 400;"> echoed the panel’s sentiment, in closing, saying, “It&#8217;s very uncommon for a manufacturing company to hold AI courses for all their employees. I think POSCO can take pride that&#8230;POSCO is a great place to apply AI and achieve results. There is already plenty of data on site and employees are continuously working to obtain more accurate data. I look forward to seeing what POSCO will bring to the advancement of AI.”</span></p>
<p><a href="https://newsroom.posco.com/en/posco-ceo-plans-for-more-smart-factories-visits-siemens-and-ge/" target="_blank" rel="noopener"><span style="font-weight: 400;">POSCO CEO Kwon Ohjoon plans on doing</span></a><span style="font-weight: 400;"> exactly that, by increasing investment in research and implementing AI technology where applicable. Read more on POSCO’s smartization efforts </span><a href="https://newsroom.posco.com/en/will-artificial-intelligence-lead-breakthroughs-steel-industry-2/" target="_blank" rel="noopener"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">. </span></p>
<p>&nbsp;</p>
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				<title>POSCO Expands Smartization to Clients and Affiliates</title>
				<link>https://newsroom.posco.com/en/posco-expands-smartization-clients-affiliates/</link>
				<pubDate>Wed, 19 Jul 2017 10:00:33 +0000</pubDate>
				<dc:creator><![CDATA[posconews]]></dc:creator>
						<category><![CDATA[Press Release]]></category>
		<category><![CDATA[4th industrial revolution]]></category>
		<category><![CDATA[AI]]></category>
		<category><![CDATA[Big Data]]></category>
		<category><![CDATA[CEO]]></category>
		<category><![CDATA[forum]]></category>
		<category><![CDATA[Industrial Revolution]]></category>
		<category><![CDATA[Korionx]]></category>
		<category><![CDATA[management]]></category>
		<category><![CDATA[Nastech]]></category>
		<category><![CDATA[POSCO]]></category>
		<category><![CDATA[POSCO forum]]></category>
		<category><![CDATA[POSCO-style SME]]></category>
		<category><![CDATA[PosGrame]]></category>
		<category><![CDATA[Shinheung Automotive Co]]></category>
		<category><![CDATA[Smart Factory]]></category>
		<category><![CDATA[smart forum]]></category>
		<category><![CDATA[smart posco forum]]></category>
		<category><![CDATA[smart solution]]></category>
		<category><![CDATA[Smart Solution Council]]></category>
		<category><![CDATA[smart technology]]></category>
		<category><![CDATA[smartization]]></category>
		<category><![CDATA[SME]]></category>
		<category><![CDATA[steel production]]></category>
		<category><![CDATA[Virtual Construction]]></category>
									<description><![CDATA[On July 19, POSCO held its Smart POSCO Forum 2017 at the POSCO Center to share the results of its smart projects with employees and partners. POSCO hopes to]]></description>
																<content:encoded><![CDATA[<p><span style="font-weight: 400;">On July 19, POSCO held its Smart POSCO Forum 2017 at the POSCO Center to share the results of its smart projects with employees and partners. POSCO hopes to increase the application of smart technology internally as well as externally with partners and affiliates.</span></p>
<p><span style="font-weight: 400;">As many as 700 people attended the forum including POSCO Group affiliate employees, as well as those of POSCO’s major suppliers, outsourcing partners and AI-related professors. Notably, employees from Nastech and Korinox, where POSCO is carrying out smart factory support projects, participated as well. </span></p>
<div id="attachment_12552" style="width: 660px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en//wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-watching-a-presentation-at-the-forum-1.jpg" target="_blank"><img class="wp-image-12552 size-full" src="https://newsroom.posco.com/en//wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-watching-a-presentation-at-the-forum-1.jpg" alt="POSCO CEO Ohjoon Kwon watching a presentation at the forum" width="650" height="433" /></a><p class="wp-caption-text">POSCO CEO Ohjoon Kwon watching a presentation at the forum</p></div>
<p><span style="font-weight: 400;">&#8220;POSCO must continue to take up the challenge of implementing a smart POSCO in preparation for the dawning of the 4th Industrial Revolution. We will apply smart technologies to all processes of the steel mills, as well as to management areas such as finance, HR and purchasing to realize the concept of smart management,” stated POSCO CEO Ohjoon Kwon. “We will actively share the results of POSCO’s smartization process with our group affiliates and customers.”</span></p>
<p><span style="font-weight: 400;">Mi-hwa Park, head of the POSCO Information Planning Department added, “To realize a smart POSCO, we started the Smart Solution Council headed by our CEO last year, and identified 141 smart projects which applied Big Data and AI to solve practical problems. Approximately 600 employees participated in the projects and reduced costs by KRW 15.7 billion.” She added, “We will develop a POSCO-style SME smart factory model to support innovations for the manufacturing sites of our SME customers and suppliers. Furthermore, we will contribute to fostering SMEs and creating jobs by providing a lighter version of the PosFrame, developed by POSCO, as a customized smart platform for SMEs.”</span></p>
<div id="attachment_12551" style="width: 660px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en//wp-content/uploads/2017/07/Excellence-award-recipients-1.jpg" target="_blank"><img class="wp-image-12551 size-full" src="https://newsroom.posco.com/en//wp-content/uploads/2017/07/Excellence-award-recipients-1.jpg" alt="POSCO CEO Ohjoon Kwon with the four excellence award recipients" width="650" height="433" /></a><p class="wp-caption-text">POSCO CEO Ohjoon Kwon with the excellence award recipients</p></div>
<p><span style="font-weight: 400;">POSCO also recognized projects that applied Big Data and AI, for excellence in the steel production category. Out of the four, one improved the flatness of steel sheets and another provided improved technology for slab production. The “3D-based design/construction quality improvement” project that uses POSCO E&amp;C’s Virtual Construction to predict risks, and the “power generation output through condenser performance diagnostics” project that can accurately detect errors in POSCO Energy’s power plants were also among those selected. </span></p>
<p><span style="font-weight: 400;">Forum participants were given an opportunity to experience POSCO’s smart solution platform PosFrame firsthand. PosFrame combines operational insights and IT technology to collect Big Data as well as process and monitor data in a way that allows participants to experience the reality of </span><a href="https://newsroom.posco.com/en/how-smart-factories-are-redefining-the-manufacturing-industry/" target="_blank"><span style="font-weight: 400;">“Smart POSCO.”</span></a><span style="font-weight: 400;"> It was one of the most popular features of the forum among participants.</span></p>
<div id="attachment_12550" style="width: 660px" class="wp-caption aligncenter"><a href="https://newsroom.posco.com/en//wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-looking-at-a-PosFrame-platform-1.jpg" target="_blank"><img class="wp-image-12550" src="https://newsroom.posco.com/en//wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-looking-at-a-PosFrame-platform-1.jpg" alt="POSCO CEO Ohjoon Kwon looking at a PosFrame platform" width="650" height="275" srcset="https://newsroom.posco.com/en/wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-looking-at-a-PosFrame-platform-1.jpg 1300w, https://newsroom.posco.com/en/wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-looking-at-a-PosFrame-platform-1-800x338.jpg 800w, https://newsroom.posco.com/en/wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-looking-at-a-PosFrame-platform-1-768x325.jpg 768w, https://newsroom.posco.com/en/wp-content/uploads/2017/07/POSCO-CEO-Ohjoon-Kwon-looking-at-a-PosFrame-platform-1-1024x433.jpg 1024w" sizes="(max-width: 650px) 100vw, 650px" /></a><p class="wp-caption-text">POSCO CEO Ohjoon Kwon looking at a PosFrame platform</p></div>
<p><span style="font-weight: 400;">POSCO also announced its plan to standardize the technologies and processes developed through smart projects, turn them into a technical package and actively incorporate them into its </span><a href="https://newsroom.posco.com/en/poscos-smart-factory-thinking-steel-mill/" target="_blank"><span style="font-weight: 400;">“Smart Solution”</span></a><span style="font-weight: 400;"> business to create added value.</span></p>
<p><span style="font-weight: 400;">Ki-won Na, CEO of Shinheung Automotive Co., Ltd., an automotive parts maker, said, “We received a lot of ideas applicable to our operations from the case studies presented today, and if we learn about POSCO’s Big Data analysis and utilization techniques in more detail and apply them, I expect it will greatly contribute to improving our productivity.” </span></p>
<p><span style="font-weight: 400;">POSCO joined hands with POSTECH to launch an advanced AI course earlier this year and is currently training 25 internal AI experts so that they can apply their AI knowledge in their field to solve problems and thus lead the way for a smart POSCO. </span></p>
<p><span style="font-weight: 400;">Also, POSCO has begun providing free AI education to young, underprivileged jobseekers in July and is now training 100 youths per year on both theoretical and practical knowledge. POSCO is also planning to support the customized SME smart talent development project, including practical education on AI and Big Data skills, for its customers and suppliers. </span></p>
<p><span style="font-weight: 400;">POSCO is actively planning to complete its smartization, meaning it will apply its “Smart Factory” to all processes of the steel mills, and carry out its “Smart Solution” business, which combines POSCO’s product technologies </span><span style="font-weight: 400;">and services with smart technologies.</span></p>
<p>&nbsp;</p>
<p><strong><a href="https://newsroom.posco.com/en/subscribe/" target="_blank"><b>Don</b><b><span lang="EN-US">’</span></b><b>t miss any of the exciting stories from The Steel Wire </b><b><span lang="EN-US">–</span></b><b> subscribe via email today</b></a>.</strong></p>
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