POSCO

POSCO (Pohang Iron and Steel Company) 2012 was the fifth largest producer of steel in the world, based in Pohang ( South Korea). The company is listed on the KOSPI on the Korea Exchange.

POSCO operates two steel plants at the Pohang and Gwangyang in South Korea. In addition, POSCO operates together in a project with U.S. Steel in Pittsburgh (Pennsylvania).

In June 2005, POSCO signed with the federal government in Orissa (India) signed a memorandum. It undertook POSCO 12 billion U.S. dollars to invest in order to construct an integrated steel plant with four blast furnaces. The contract for this project was VOEST -Alpine industrial plant in Linz.

Company History

In the 1960s, the South Korean government came to the realization that the country under its own power need steel and integrated steel products for economic development in the country under the then President Park Chung - hee. In 1972, the production of POSCO began with 39 employees.

The company's growth in the coming decades was immense. In the 1980s, POSCO was already the fifth largest steel company in the non-Communist world with an annual production of approximately 12 million tons.

As a result of its privatization policy since 1987, the South Korean government has reduced its share in the company. In 1998, he was still about 20 % of the company shares; about 50 % are held by foreign investors.