Excelling in Today’s Challenging Global Steel Marketplace
After the global steel industry’s recent downturn, caused by oversupply, low prices and rising raw material costs, Pohang, South Korea-based POSCO, one of the world’s largest multinational steel manufacturers, needed a strategy for handling such challenges while continuing to protect their assets and remaining industry innovators.
By focusing on high value-added products, reducing cost, and innovating its product and process, POSCO posted a double-digit operating margin and a jump in stock price of over 50 percent in 2016, according to its annual report.