[Sponsored Report] Hyundai Steel gives clients boost

Representatives of 90 Hyundai Steel client companies pose for a group photo in front of Hyundai Steel R&D Center, Dangjin, South Chungcheong, after a New Year’s ceremony. Provided by the company

Hyundai Steel vowed to pursue coexistent growth with its client companies as part of its goal for the new year.

Last Friday, the steelmaking arm of Hyundai Motor Group hosted a ceremony to stress the initiative, inviting its own executives and the representatives of around 90 major client companies to its Dangjin mill in South Chungcheong.

The steelmaker emphasized the value of coexistent growth throughout the ceremony and promised to help its client companies raise their profits through mutual trust.

This year, Hyundai Steel plans to help its client companies acquire stronger competitiveness. It announced plans to enforce communication with clients in order to improve the quality of services and tailor the production system to meet their needs.

“Last year was the 60th anniversary of Hyundai Steel,” Vice President and CEO Park Seung-ha reminisced in a speech. “Although we faced both internal and external difficulties, we were able to overcome the challenges. It was a good year, especially with the completion of the third blast furnace and the merger with the cold-rolled steel sheet division of Hyundai Hysco,” he said.

He also sees a bright outlook for the year ahead. “I think 2014 will be somewhat better than last year for the steel industry, as the industry will climb out of the recession,” he predicted. “I hope to share the fruitful results with our client companies through coexistent growth in the future.”

The guests spent time examining the mill’s three blast furnaces, enclosed raw material storage system and cold-rolled steel facilities. In-depth discussions on market conditions, industry prospects and Hyundai Steel’s business performance were also held.

By Park So-yeon [soyeon_park@joongang.co.kr]