POSCO CEO Chung Joon-yang speaks at the World Steel Success Strategy conference held in New York on Tuesday. (POSCO)
POSCO, South Korea’s leading steelmaker, was named the most competitive steelmaker in the world this year for the fourth consecutive year, industry sources said Wednesday.
In a recent assessment of 34 steelmakers around the world, global steel information service provider World Steel Dynamics has given the highest mark of 7.73 points out of 10 to POSCO in areas such as productivity, labor mastery and FINEX technology, according to the sources.
The assessment was conducted on 23 categories, including technology, profitability, cost reduction and financial health.
Russia’s Severstal and Nucor of the U.S. were ranked second and third, respectively, with Russia’s NLMK coming in fourth.
India’s JSW and Brazil’s Gerdau each came in fifth and sixth, according to the sources.
ArcelorMittal, the world’s largest steelmaker in terms of crude steel output, took the 26th spot.
The Korean steelmaker held the top spot from 2002 to 2004 but was dethroned by its Russian and Indian rivals starting in 2005. It reclaimed the crown in 2010. (Yonhap News)
