South Korean steel giant Posco said Thursday that it would focus all its capabilities on fostering its new construction steel brand, Innovilt, as its next-generation product.

To that end, the company said it would cooperate with small but strong companies to advance its premium construction steel business, and that it ultimately hoped to establish a new ecosystem in the construction market.

Posco launched Innovilt in November 2019. The construction steel brand is used in architectural structures, as well as interior and exterior construction and civil engineering projects. 

“We will focus the capabilities of our group affiliates to produce premium construction steel products that meet the future construction market trends” calling for safe, environment-friendly products, Posco’s Senior Executive Vice President Jeong Tak, who heads the marketing division, said at a press conference at the Sharp Gallery in Seoul, an art gallery run by Posco Engineering and Construction.

“From this, we will establish a new ecosystem in the construction market with our client firms and partner builders.”

Posco said it would work with group affiliates to foster the brand, including Posco A&C and Posco International. 

It has also created the Innovilt Alliance, a brand committee consisting of its clients and builders, with the aim of creating a new value chain, the company said.

Posco said it had set a sales goal of 14 million tons by 2030. The steelmaker said it had sold about 4 million tons of its products last year.

By Jo He-rim (herim@heraldcorp.com)