[THE INVESTOR] Korea’s top steelmaker POSCO
plans to expand production of its quake-proof steel products in light of growing awareness that the peninsula is no longer safe from major seismic jolts following the Japan earthquake and tsunami of 2011.
POSCO has set its goal to expand production and sale of quake-proof steel products by 30 percent year-on-year, local news reported on June 21.
Dongdaemun Design Plaza in Seoul built with POSCO’s TMCP steel
Under the plan, the steelmaker plans to expand distribution of high strength steel called SN (Steel New Structure), its earthquake-resistant steel that boasts high tensile strength and improved flexibility. POSCO also plans to expand production of its already widely used TMCP steel, known for high strength and superior tenacity, that became part of major buildings in Korea, including skyscraper IFC Mall in Yeouido, Dongdaemun Design Plaza and Korea International Exhibition Center.
“Due to recent outbreak of earthquakes, we see the importance of applying quake-proof steels in high-rise buildings and public facilities. We will accelerate developing these products,” an official from POSCO said. The company will also increase export of its quake-proof steel to countries that are vulnerable to earthquakes such as Japan.
By Ahn Sung-mi (firstname.lastname@example.org)