POSCO has been ranked as the `World`sMost Competitive Steelmaker` by WSD (World Steel Dynamics) for fourconsecutive years since 2010.
WSD hosted the `28th Steel SuccessStrategy` conference, the world`s largest steel conference, at the New YorkSheraton Times Square Hotel in the U.S.A on June 18th and 19th, announced Posco the`World`s Most Competitive Steelmakers` ranking, a Posco press release informed.
Following last February`s evaluation, POSCO again received high scores spreadthroughout the categories for a final score of 7.73 (out of 10) ranking firstamong the companies evaluated. POSCO marked a large lead in employee skilllevels, innovative technology led by FINEX and energy steel material productiontechnology, expansion of high value added products, and new marketexpansions.
CEO Mr. Chung Joonyang who was invited as a highlight speaker after theannouncement of the rankings introduced `POSCO`s Growth Story and FutureStrategy,
CEO Mr. Chung introduced that he has strived for continuous growth throughleading innovative activities and firmly establishing a global managementsystem for the past 4 years, and added global competitiveness with uniqueinnovative technology and high value added product development which haveallowed maintenance of the world`s highest competitiveness.
As mentioned in the conference theme, `Steel on the Precipice,` the world`ssteel industry has a pressing need for a way to overcome the current recession.Conference delegates accordingly were focused on whether `POSCO`s Growth Storyand Future Vision` will be able to suggest a new direction for the world`ssteel industry.
CEO Mr. Chung especially received heated responses from the delegates whennoting that becoming a `loved company` which involves establishing a healthycorporate ecosystem with POSCO`s unique concept of the stakeholders, SPICEE(Society/Partner/Investor/Customer/Employee/Environment), and grow and succeedtogether is POSCO`s future.
WSD has been analyzing the global steel market to find solutions to issues theindustry faces each year since 2002, and announces competitive steelmakerrankings based on evaluation in 23 categories including production scale,profitability, technology innovation, price determinativeness, cost reduction,financial stability, and securing of materials. Competitiveness of the world`ssteelmakers was evaluated in February and June this year selecting 34 companieseach.
NLMK of Russia and JSW of India who ranked 2nd and 4th last February werepushed aside by Severstal (2nd, Russia) which owns iron ore mines and NucorSteel which utilizes low cost shale gas (3rd, U.S.) marking the importance ofcost competitiveness in the unclear global steel market environment.
Previous 1st ranking ArcelorMittal and 2nd ranking Nippon Steel & SumimotoMetal in steel production capacity each ranked 26th and 7th, and steelproduction capacity 3rd Hebei Steel and 4th Bao Shan Steel were notranked.
Meanwhile, during the Q&A session after his speech, CEO Mr. Chunge mphasized that as the world`s economy is in decline, the world`s steelmakersmust come together against trade protectionism to resolve intensified tradedisputes within the steel industry.
Meanwhile Q&A session after his speech, CEO Mr. Chungemphasized that as the world`s economy is in decline, the world`s steelmakersmust come together against trade protectionism to resolve intensified tradedisputes within the steel industry.