POSCO Strengthens Business Cooperation with German Siemens

Siemens Roland Busch, Chairman, Visits POSCO on 25th
Discusses Cooperation in Steel, Smart Factory, and Carbon Neutrality Fields

Kim Hak-dong, Vice Chairman and CEO of POSCO, met with Roland Busch, Chairman of the German Siemens Group, at the POSCO Center in Seoul on the 25th.

Kim Hak-dong, Vice Chairman of POSCO, is presenting a plaque of appreciation to Roland Busch, Chairman of Siemens, in gratitude for his contribution to the restoration after the Naengcheon flood. Photo by POSCO

This meeting was arranged to strengthen the mutual cooperation between POSCO and Siemens and to explore new business opportunities. It was held at the request of Chairman Roland Busch, who visited Korea for the first time since his appointment in 2021.

During his visit to the POSCO Center, Roland Busch toured the Steel Gallery exhibition and had a cordial meeting with Vice Chairman Kim Hak-dong. Jung Ha-jung, CEO of Siemens Korea, accompanied him on this visit.

Siemens is Europe's largest engineering company and a global enterprise operating in 10 sectors including factory automation, energy, power generation, and healthcare. Siemens is both a supplier of drive motors and control equipment to POSCO and an important strategic partner purchasing heavy plates for wind towers from POSCO.

Notably, during the recovery from the cold stream flooding at the Pohang Steelworks in September last year, Siemens provided substantial support by supplying numerous control devices?normally requiring over a year for procurement?within three months. POSCO expressed its gratitude by presenting Siemens with a plaque for their significant contribution to the early normalization of the Pohang Steelworks during the meeting.

Furthermore, to mutually expand reciprocal purchasing, POSCO introduced its Greenable* brand, launched in 2021, which applies to the production, transportation, and storage of future eco-friendly energy, and committed to actively responding to Siemens’ needs for eco-friendly projects. Siemens also proposed supplying POSCO with high-performance, high-efficiency control systems, discussing the expansion of existing business. Additionally, both companies agreed to collaborate in shared interest areas such as smart factories and carbon neutrality.

Greenable is POSCO’s integrated brand of eco-friendly and high-performance steel products and solutions applied in the production, transportation, and storage of future green energy such as wind power, solar power, and hydrogen. Key products include ▲high-corrosion-resistant galvanized steel sheets for solar power equipment ▲heavy plates for wind towers and substructures ▲hot-rolled steel plates for hydrogen pipelines and high-pressure vessels.

Vice Chairman Kim Hak-dong stated, "Strengthening the business partnership with Siemens will greatly help POSCO secure competitiveness in the global market," and proposed, "To concretize strategic collaboration between the two companies, let us promote regular exchange meetings related to the supply of eco-friendly materials and energy-saving factory control equipment."

Chairman Roland Busch also said, "Cooperation with POSCO is very important to Siemens, and the two companies will create new business models together," adding, "Let us achieve mutual development through continuous cooperation going forward."

Meanwhile, in January, POSCO fully normalized the Pohang Steelworks 135 days after the cold stream flooding, receiving support from leading overseas suppliers such as Germany’s Siemens and Japan’s TMEIC. This exchange with Siemens is expected to serve as an opportunity to enhance competitiveness in the steel industry and further strengthen business partnerships with global companies.

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