Posco signs MOU with Google

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Posco signs MOU with Google

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Eric Schmidt, executive chairman of Google, left, and Posco CEO Chung Joon-yang chat at the Posco Center in Daechi-dong, southern Seoul, on Nov. 8. Provided by the company


Steel giant Posco and the world’s largest search engine Google have joined forces to establish a new paradigm for business management and increase their respective corporate values.

The marriage between the world’s fourth-biggest steelmaker, a traditional manufacturer, and the most powerful Web service provider, an epitome of innovation, is fast drawing attention to see what kind of results it yields.

Posco announced yesterday that it has signed an MOU with Google to exchange core capabilities with the aim of establishing a new business paradigm based on global operations, creative collaboration and highly skilled workers.

CEO Chung Joon-yang met with Google’s executive chairman on Nov. 8 at Posco’s building in Daechi-dong, southern Seoul. Jung proposed the partnership with Google to boost innovation. The two discussed ways of utilizing Google’s corporate services and how to secure opportunities for future business.

Under the terms of the MOU, Posco will adopt Pospia 3.0, a future management system that will be built using Google’s search technology, map service and 3-D technology. Using the system, Posco will be able to utilize Google’s IT solutions in the fields of logistics, facilities, energy use and security to increase working performances.

Posco and Google will also set up a “digital virtual factory” to find optimal solutions for the steelmaker through simulations prior to the introduction of new equipment. The steelmaker will also introduce a global logistics monitoring system and a disaster-prevention system with the help of Google’s technology.

The U.S. search-engine giant will also provide Posco with its current solutions for communications and collaboration. And the company will further develop solutions that are needed by the steelmaker.

“Such cooperation between Posco and Google is likely to bring significant innovation to our operations,” said Posco’s Lee Yong-sop. “For example, Posco employees will be able to use the camera function on their mobile phones to identify themselves and hold video conferences.”

Meanwhile, Google’s map service “will track inventories at factories around the world, and the transportation of products in real time,” he added.


By Song Su-hyun [ssh@joongang.co.kr]

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