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POSCO tops global steel competitiveness ranking for 9th consecutive year

POSCO tops global steel competitiveness ranking for 9th consecutive year

Posted June. 28, 2018 07:30,   

Updated June. 28, 2018 07:30


POSCO, one of the world’s largest steel companies, has been named the most competitive steelmaker for the ninth consecutive year.

World Steel Dynamics Inc. (WSD), a U.S.-based global steel industry analysis firm, announced on Tuesday (local time) its industry competitiveness ranking at the Steel Success Strategies conference held in New York. According to the announcement, the South Korean steelmaker has retained its title as the most competitive steelmaker since 2010.

According to WSD, POSCO received an average of 8.37 points, achieving the full 10 points in eight of 10 eval‎uation categories, such as technology innovation, cost effectiveness, skilled workforce, restructuring and investment environments. Last year, POSCO won 8.31.

The Korean steelmaker attributed the strong showing to its continued efforts to streamline its businesses and improve its financial status despite extremely aggravated external business conditions including higher import barriers amid the global spread of trade protectionism.

Last month, POSCO won the prestigious Metals Company of the Year award at the sixth annual S&P Global Platts Global Metals Awards with a unanimous decision by judges, becoming the first Korean company to win the honor.

POSCO posted operating profits of over 4.62 trillion won (3.8 billion U.S. dollars) last year, the highest in six years, out of a consolidated sales revenue of 60.66 trillion won (54.2 billion dollars).

Jin-Hup Song jinhup@donga.com