Hyundai Steel, South Korea‘s second-largest steelmaker by market cap, has “sought coexistence” through a tech expo held Oct. 24-26 to promote local small and medium-sized enterprises in the steel industry.

The three-day event presented promotion booths of some 60 partnering SMEs at home and abroad. The annual event took place at the Dangjin steel mill owned by the steelmaking arm of world‘s fifth-largest automaker Hyundai Motor.

Hyundai Steel, through the event, aimed to offer SMEs chances to explore more business cooperation with buyers by showcasing technologies to improve productivity, quality, environmental efforts and localization in steel production. The expo also involved seminars to help local firms protect industrial technology infrastructure.

Hyundai Steel also used the occasion to discover technologies to help the steelmaker find ways to cut production costs.

Hyundai Steel co-Vice Chairman Woo Yoo-Cheol said in the opening remarks the event is crucial for both Hyundai Steel and SMEs to “develop new demands to enhance competence” and “seek coexistence.”

By Son Ji-hyoung 
(consnow@heraldcorp.com)