POSCO SPS Official Launch... "Expanding the Steel Value Chain"

"Securing Stable Profit Structure Through Handling 1 Million Tons of Steel Materials Annually"

POSCO SPS CI (Photo by POSCO International)

[Asia Economy Reporter Kim Ji-hee] Posco International's 'Posco SPS,' which was spun off by integrating three business divisions to strengthen expertise in the steel processing business sector, officially launched on the 2nd.

At the Posco SPS launch ceremony held in Cheonan, the location of the headquarters, Posco SPS President Kim Hak-yong, Posco International Steel Division 2 Head Kim Kwang-soo, Posco Global Infrastructure Business Management Office Head Kim Won-hee, and other executives and employees attended. In his commemorative speech, President Kim said, “Posco SPS will take this integration as an opportunity to further solidify the competitiveness of the steel processing business and will do its best to enhance management efficiency by expanding synergy through organic collaboration systems with the parent company Posco International and other group companies.”

The three divisions integrated this time are ▲STS (Stainless Steel) ▲TMC (Transformer & Motor Core) ▲Thick Plate Processing. Posco SPS specializes in producing and distributing STS cold-rolled, precision materials, motor cores, and in thick plate processing and steel structure fabrication. Going forward, it plans to handle more than 1 million tons of steel materials annually to secure a stable profit structure.

To this end, Posco SPS will expand the steel value chain from steel processing to fabrication and sales. In particular, it plans to actively foster future core businesses such as eco-friendly drive motor cores and materials for hydrogen fuel cell vehicles to enhance the global competitiveness of the steel processing business.

Earlier, Posco International resolved at the board meeting in October last year to establish a suitable management system for the divisions subject to the spin-off and to improve responsiveness to changes in the management environment by splitting the three business divisions.

This content was produced with the assistance of AI translation services.