POSCO, the Most Competitive Steelmaker Ranked No.1 for 13 Consecutive Years
[Asia Economy Reporter Oh Hyung-gil] POSCO has achieved first place for 13 consecutive years as the most competitive steel company in the world.
The global steel analysis organization World Steel Dynamics (WSD) announced the ranking of the "Most Competitive Steel Companies in the World" on the 12th (local time), selecting POSCO as number one for the 13th consecutive year. Established in 1999, WSD evaluates 23 items annually for global steel companies and publishes a comprehensive competitiveness ranking.
POSCO received perfect scores in seven categories: eco-friendly technological innovation, high value-added products, processing costs, human resources capability, new growth businesses, investment environment, and country risk factors, achieving an overall score of 8.5 out of 10 and ranking first overall.
Philip Englind, CEO of WSD, stated, "The POSCO Hydrogen Reduction Steelmaking Forum has become a focal point for carbon neutrality by leading cooperation across the steel industry's value chain." He added, "POSCO's $40 billion investment in eco-friendly steel raw materials and hydrogen in Australia also received positive evaluations regarding POSCO's realization of carbon neutrality and growth potential." POSCO was also highly rated for its steel mill operational capabilities, continuous profit generation, and financial soundness.
In April, POSCO became the first domestic steel company to be selected as a World Steel Association Sustainability Champion, and it is leading the global steel industry's carbon neutrality efforts by forming a platform for joint development and sharing of hydrogen reduction steelmaking technology achievements.
In October, Choi Jeong-woo, Chairman of POSCO Group (POSCO Holdings), was inaugurated as Chairman of the World Steel Association, and POSCO won awards in the Technology Innovation and Sustainability categories at the 2022 Steelie Awards.
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Additionally, at the 10th Global Metals Awards hosted by S&P Global Commodity Insights, POSCO received the "Best Steel Company" award in 2018, 2020, and again this year, while Chairman Choi was named "CEO of the Year" for demonstrating the most outstanding performance and leadership across the global steel, metals, and mining industries.
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