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POSCO aims to rank within global top 100

By Korea Herald

Published : March 30, 2012 - 21:35

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POSCO, the world’s third-largest steelmaker, said Friday that it will achieve 200 trillion won in sales and expand into the global top 100 companies by 2020.

POSCO CEO Chung Joon-yang unveiled a new corporate vision on the day, marking the 44th anniversary of the company’s foundation at its headquarters in Pohang, North Gyeongsang Province.

Last year, South Korea’s largest steelmaker ranked 161st with 60 trillion won in 2010 sales in the U.S. business magazine Fortune’s “Global 500 List.”
POSCO CEO Chung Joon-yang speaks during a lunch meeting with a group of multicultural families and the underprivileged as part of events to mark the steelmaker’s 44th anniversary at the company’s headquarters in Pohang, North Gyeongsang Province, on Friday. (POSCO) POSCO CEO Chung Joon-yang speaks during a lunch meeting with a group of multicultural families and the underprivileged as part of events to mark the steelmaker’s 44th anniversary at the company’s headquarters in Pohang, North Gyeongsang Province, on Friday. (POSCO)

“I appreciate former and current POSCO officials, including the late founder Park Tae-joon, for their sacrifice and passion that have led the miraculous success of POSCO,” the chairman said.

“Amid economic uncertainties in Korea and abroad, we are facing an unprecedented crisis since establishment. With passion like a blast furnace, we should continue to succeed beyond the steel business.”

Chung also disclosed the company’s renewed strategic directions during the ceremony.

He stressed that the company should secure a competitive edge in steel manufacturing while seeking sustainable growth in other sectors such as general materials and energy.

When it comes to corporate culture, he urged company officials to elevate productivity and effectiveness ultimately to become a “loved company” from a “trusted company.”

By Lee Ji-yoon (jylee@heraldcorp.com)

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