POSCO was selected as the best company in the steel industry leadership category at the Global Metals Awards of S&P Global Platts, which was announced on June 30.
S&P Global Platts is the world's largest information analysis agency in steel, raw materials and energy, a subsidiary of S&P Global, a global financial services company with credit rating agency S&P Ratings and Dow Jones Indices, which operates the S&P 500 Index.
Platts has been selecting outstanding companies in 15 categories including steel industry leadership, aluminum industry leadership, raw material leadership, technological innovation and social contribution since 2013 through the Global Metals Awards.
In May, POSCO was selected as the final candidate in three categories: steel industry leadership, social contribution, and technological innovation, and won the "steel industry leadership" category for achieving good management performance compared to its competitors amid difficult business conditions such as the spread of global protectionism and worsening steel market conditions.
POSCO's Global Metals Awards is the second of its kind since 2018, and POSCO is the only domestic company to receive the award.
Platts said that POSCO has demonstrated solid performance in difficult environments by selling 10 million tons of world-top premium products, promoting Cost Innovation (CI) 2020 which is a cost-cutting activity, and establishing a smart production system using AI and Big Data, and highly evaluated its efforts to systemize shared growth programs and find future food items such as secondary battery material business.
In addition, the company participated in solving social problems through the practice of corporate citizen management ideology such as 1% Sharing Foundation, Talent Volunteer Corps, and Environmental Protection, and was selected as the first lighthouse factory to lead the future of manufacturing industry by the WEF (Davos Forum) through the active introduction of AI technology.
Meanwhile, POSCO has been ranked No. 1 in the World's Most Competitive Steel Company announced by World Steel Dynamics (WSD), a global steel analyst, for 10 consecutive years, and has been selected as an excellent company since 2003 by participating in the Dow Jones Sustainability Index (DJSI).
kslee@koreaittimes.com
