[SPONSORED REPORTS] Posco faces crisis with various innovations

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[SPONSORED REPORTS] Posco faces crisis with various innovations

 Posco’s CEO, Choi Jeong-woo, operates a newly innovated smart shaft furnace. [POSCO]

Posco’s CEO, Choi Jeong-woo, operates a newly innovated smart shaft furnace. [POSCO]

Posco is making various efforts to overcome a crisis of managerial challenges. To weather the storm, Posco is working to expand the sales of its World Top Premium brand, employing smart shaft furnace technology and hosting the “Cost Innovation 2020” campaign. Simultaneously, Posco is aiding the development of steel products for construction and launching a premium brand, Innovilt.

World-class Posco, WTP
WTP (World Top Premium) has been Posco’s game changer brand since 2014. WTP can ensure a certain profit margin in comparison to normal steel, regardless of the market conditions. Therefor it is adequate to lead the future market due to its profitability and marketability.
Posco’s marketing, manufacturing, and research and development team are vigorously working together to promote and improve WTP products around the country. Posco is also operating the Posco Auto Steel Strategy 2025 as a platform to cooperate with global automobile companies and eco-friendly automobile companies. WTP products’ sales figures increased from 9.6 million tons in 2018 to 10.1 million tons in 2019.
Eco-friendly and easily cut PosGram
Posco developed the world’s first eco-friendly mass producible graphite-based free cutting steel, PosGram. “Free cutting steel” is long and narrow steel with a circular cross section. It is relatively easy to cut and used in cars and sophisticated electrical parts. Making an alternative to lead-based cutting steel was one of Posco’s targets. By using graphite, Posco developed PosGram, which has the same processing capability as traditional lead-based free cutting steel but is not as toxic.
Posco’s current goal is to replace Korea’s lead-based free cutting steel market with their PosGram by using an active marketing campaign.
Giga Steel is the “green steel”
Giga Steel is a next-generation steel made by Posco, capable of enduring the weight of 1,500 compact cars while being as small as 10 by 15 centimeters (4 to 6 inches). Its pliability and light weight are what make Giga Steel a suitable substitute for aluminum in the automobile manufacturing field.
Energy-efficient plate, Hyper No
Posco’s energy-efficient steel plate Hyper No is usually used in high efficiency motors in products such as electric cars, industrial fans and vacuums. Non-oriented electrical plates experience energy loss, or core loss, during conversion of electric energy to rotational energy. But Hyper No’s efficiency drastically improves this energy loss by 30 percent from its conventional counterpart. Posco’s recent “self-bonding” technology which requires no welding to steel plates can also improve core loss ratio by 10 percent more than those from traditionally welded motors.
Premium steel products for Innovilt
Last November, premium steel products for construction brand Innovilt were launched by Posco. “Steel Products for Construction” is a term used for indicating steel products used for heavy construction such as bridges and buildings. Innovilt, a compound word of “innovation” and “value,” is a line of products made with Posco produced materials, the safety and marketability of which was cleared by internal/external evaluation. Posco plans to extend its Innovilt verified library for the advancement of the steel products for construction market.
Posco’s smart factory system
Posco’s smart factory plays a crucial role in enhancing the competitiveness of the company. The company has applied this state-of-art system to many of its factories in Korea and received positive responses from many consumers around the world.
Posco’s artificial intelligence blast furnace is considered a successful application of the smart factory system. By actively utilizing the system, the company digitized all the necessary processes which significantly increased the efficiency in overall processes.
In addition, the company has developed a smart factory platform called “PosFrame” which can expedite the process of digitization in smart factories. The platform collects on-site know-how which it has accumulated over 50 years, studies it, and controls the production processes in real time.
Posco wishes to spread its smart factory technologies to other SMEs in Korea to strengthen the domestic manufacturing industry.

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