POSCO (Pohang Iron and Steel Company) is a Korean based steel manufacturing company. The company was founded in 1968, in an effort to become independent and drive economic development, for a country who was reeling in the wake of a devastating war during the 1950’s.
The company was established as a state owned company.
In 1973, the first pig iron was produced by the Pohang Steel Works. Steel products were then used to expand the capacity of the current operations.
In the early 2000’s, POSCO transitioned to a private company and by the mid-2000’s had established multiple subsidiaries all over the world such as China, India and Mexico.
POSCO currently operates two steel mills in Korea, the Pohang Steelworks and the Gwangyang Steelworks. In addition, POSCO subsidiaries are involved in a range of mining industries, such as iron ore, nickel, coal and renewable energy.
POSCO is an industry leader in steel technology, founding the POSTECH University, in an effort to train future world leaders and establish themselves as a formidable force, in steel and iron manufacturing. Today, POSTECH is one of the leading institutions across a range of engineering disciplines.
POSCO is a substantial investor in Australia’s resource sector having investments in 9 projects across a range of commodities, including coal and iron ore, to the value of approximately $2.2 billion. Annually, POSCO purchases a range of commodities from Australia to the value of $7 billion.
To learn more, please visit www.posco.com