The company plans to upgrade its customer and market structure by expanding its high value-added World Top
Premium products, while responding to customers diverse needs by launching an eco-friendly product line Greenate and developing hydrogen-reduced steel HyREX technology in line with the global low-carbon trend. In the steel industry, automobiles, shipbuilding, and construction are the main demand industries, and steel products are used as raw materials for these demand industries. In terms of sales, the
proportion of domestic sale is 54% of total sales and export sales are around 46%, and by export region, the proportion of Japan, Europe, Southeast Asia, and India is high. POSCO maintains order based production and sales system, and to secure
stable sales, the proportion of direct sales to customers in domestic sales is maintained at about 60%. POSCO continues to strive to strengthen its competitiveness in the midst of rapidly changing business environments such as the transition to a low-carbon eco-friendly era, accelerating technological innovation, and strengthening ESG management. The companys competitive advantages include followings:
First, POSCO is promoting great transformation from current steelmaking process to a low-carbon, eco-friendly process.
Second, POSCO will upgrade eco-friendly future
product portfolio.
We will proactively respond to the growing demand for eco-friendly products and lead the
high value-added market with the best innovative products. In order to contribute to the decarbonization of customers and society, we are expanding our low-carbon product lineup, and from 2026, we plan to
produce high value-added products that reduce carbon emissions using a newly established electric furnace.
Third, POSCO implement Meta-POSCO
through digital transformation. Since 2017, the company has been gradually implementing Smart Factories that optimize, automate, and intelligentize facilities by using innovative digital technologies such as IoT, Big Data, and AI and Digital Twin
models. Through deep learning that extracts optimal results by converting major variables that determine the state of the furnace into big data, Pohang Steelworks furnace #2 has been turned into an AI furnace.
Lastly, POSCO will realize a safe workplace without accidents and continue to strengthen ESG management. Safety is the highest value and corporate culture
pursued by the company, and we are upgrading our safety system so that the companys safety culture can leap to the highest level in the world. We are promoting the development of smart safety solutions using AI and IoT, and discovering
potential risks in the field, strengthening safety activities that comply with standards.
POSCO, As an unlisted company, has no obligation to establish
special committee under the board of directors, but it has not only established an ESG committee to strengthen its external communication with interested parties but also established an audit committee to support ESG governance.
(2) Market Share
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|
(Millions of Tons, %) |
|
Category |
|
2024.1Q |
|
|
2023 |
|
|
2022 |
|
|
Production |
|
|
Market share |
|
|
Production |
|
|
Market share |
|
|
Production |
|
|
Market share |
|
Crude Steel Production |
|
|
16 |
|
|
|
100 |
% |
|
|
67 |
|
|
|
100 |
% |
|
|
66 |
|
|
|
100 |
% |
POSCO |
|
|
9 |
|
|
|
53 |
% |
|
|
36 |
|
|
|
53 |
% |
|
|
34 |
|
|
|
52 |
% |
Others |
|
|
8 |
|
|
|
47 |
% |
|
|
31 |
|
|
|
47 |
% |
|
|
32 |
|
|
|
48 |
% |
ø |
Source: World Steel Association (www.worldsteel.org) |
7