POSCO has been named the world's most competitive steelmaker for the 7th consecutive year. On June 13, World Steel Dynamics (WSD), a US-based steel information service provider, announced this year's World-Class Steelmaker Rankings in New York and named South Korean steelmaker POSCO as the world’s most competitive steelmaker.
POSCO has topped WSD’s global competitiveness list for nine straight times since 2010. POSCO retaining the title is noteworthy in that the company underwent a strong restructuring process due to unfavorable market conditions, such as a global supply glut, sluggish demand and tougher import regulations.
The WSD ranks 37 global steelmakers once or twice a year by analyzing 23 different categories.
According to the steel industry research firm, POSCO topped the list with 8.02 points as the company scored highly in various categories, including corporate restructuring, innovative technology (e.g. FINEX and CEM technologies), skilled engineers & productivity, sales of value-added products and cost savings.
In the category of corporate restructuring, POSCO securing investment from a Saudi Arabian sovereign wealth fund and the sale of its specialty steel unit earned the company high marks.
