POSCO has reached a milestone of 800-million-ton cumulative output of steel products in 43 years since its establishment.
The steel maker said this on July 2, adding that the record was broken at 7 am on June 25. The 800 million tons of steel products can be used to make 800 million mid-sized cars.
POSCO began the mass-production of steel on July 4, 1972. At the time, the company had to build production facilities while at the same time producing crude steel. It had to import all its slabs to be used to make thick plates. In the following year, the company finally completed the construction of blast furnaces.
In August 1989, or 17 years after producing steel, POSCO could achieve the cumulative output of 100 million tons. Its cumulative output reached 400 million tons in October 2002 and 700 million tons in August 2012. It took two years and ten months for the cumulative output to increased by 100 million tons to 800 million tons.
POSCO president Kim Jin-il said in a letter to all company employees on July 2, "We could accomplish the great milepost of the 800-million-ton output all thanks to each and every one of your effort and challenge spirit. We should keep going without resting on our laurels to overcome difficulties."