Business
POSCO’s steel output tops 800m tons
Published : Jul 3, 2015 - 18:09
Updated : Jul 3, 2015 - 21:27
Steelmaker POSCO said Friday that it has produced more than 800 million tons of steel products, about 43 years since manufacturing started in 1972.

According to the company, the cumulative production amount surpassed 800 million tons as of 7 a.m. on June 25. POSCO held celebratory ceremonies at its plants in Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province, to encourage the field workers.

“We are especially proud because the record was set amid the long-standing economic meltdown and ever-fiercer global competition,” company CEO Kim Jin-il noted in his newsletter for workers.

“We believe our growth in both quantity and quality was available because we have secured our competitive edge through development of innovative technology, streamlining of facilities and tailored-solution marketing. We also think the staff’s unyielding spirit and creative wisdom have been the major contributors to our success,” he said.

POSCO started production on July 4, 1972. The production amount surpassed 100 million tons in 1989 and 400 million tons in 2002. POSCO steel has the biggest market share in the shipbuilding sector, and is No. 5 in the automotive industry. 

By Bae Ji-sook (baejisook@heraldcorp.com)
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