POSCO, 'World's Most Competitive Steelmaker' Ranked No.1 for 12 Consecutive Years

Global Steel Analysis Firm WSD Announces on 8th... Evaluates 23 Items for 35 Steel Companies Worldwide

Scores 10 out of 10 in 8 Categories Including Technological Innovation, Financial Soundness, High-Value Products, and Human Resources

Records Highest Performance, Transforms into Eco-Friendly Material Company, Highly Rates Chairman Choi Jeong-woo's Leadership

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] POSCO has been selected as the "most competitive steel company in the world" for 12 consecutive years.

The global steel analysis organization WSD announced the results of the global steel company competitiveness evaluation at the 36th Global Steel Strategy Meeting held in Miami from November 8 to 9, local time in the United States, selecting POSCO as the world's top steel company.

POSCO received perfect scores for two consecutive years in seven categories including high value-added products, processing costs, technological innovation, human resources capabilities, new growth businesses, investment environment, and country risk factors. This year, it also achieved a perfect score in financial soundness, including proactive cash reserves for future growth engines and debt ratio reduction activities emphasized since Chairman Choi Jeong-woo took office in 2018, ranking first overall with a score of 8.54 out of 10.

Established in 1999, WSD annually evaluates 35 major steel companies worldwide across 23 categories and publishes a comprehensive competitiveness ranking. This ranking serves as an important reference indicator to gauge the management performance and future development potential of major global steel companies.

This year, WSD highly evaluated POSCO's performance recovery, transformation into an eco-friendly materials company, and leadership in promoting carbon neutrality in the global steel industry when selecting the world's most competitive steel company.

Despite experiencing an unprecedented management crisis last year due to the global steel demand industry slump caused by the COVID-19 pandemic, POSCO recorded its highest performance since its founding in 1968 with consolidated sales of 20.6 trillion KRW and operating profit of 3.1 trillion KRW in the third quarter.

POSCO is transforming its business structure into an eco-friendly materials specialist by strengthening sales of eco-friendly steel products and expanding secondary battery materials and hydrogen businesses this year.

In the steel business, POSCO expanded sales of high value-added WTP products from 8.74 million tons last year to 9.3 million tons this year, recently established a 1 million ton production system for Giga Steel, and strengthened the sales base for eco-friendly premium products by consecutively launching eco-friendly brands such as INNOVILT, e Autopos, and Greenable.

Additionally, Chairman Choi Jeong-woo successfully hosted the Hydrogen Reduction Steelmaking International Forum (HyIS Forum) in October, the first in the steel industry to discuss hydrogen reduction steelmaking technology, leading cooperation measures for achieving carbon neutrality in the global steel industry, which received positive evaluations.

The recent HyIS Forum was attended by a total of 2,028 participants online and offline from 348 companies and institutions across 48 countries worldwide. POSCO introduced its proprietary eco-friendly hydrogen reduction steelmaking model, HyREX (Hydrogen Reduction Steelmaking) technology, to the global steel industry for the first time, gaining recognition for its technical value and competitiveness, and received great acclaim for leading international solidarity and cooperation in the global steel industry.

POSCO is recognized as the world's most competitive steel company, with Chairman Choi appointed to the World Steel Association board in October and winning two categories, 'Technological Innovation' and 'Communication Program,' at the 12th Steely Awards.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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