POSCO, Ranked No.1 Most Competitive Steelmaker Worldwide for 14 Consecutive Years

Selected by Global Steel Analysis Firm WSD
Evaluation of 23 Criteria for 35 Steel Companies Worldwide

'With Posco' sculpture in front of the POSCO building, Yeoksam-dong, Gangnam-gu, Seoul. Photo by Younghan Heo younghan@

POSCO has been selected as the world's most competitive steelmaker for 14 consecutive years.

The global steel industry analysis firm WSD (World Steel Dynamics) announced the results of the World-Class Steelmaker Rankings on December 18 (local time in New York).

POSCO overcame difficult sales conditions such as domestic demand industry recession and expanding global trade issues, fully normalized operations after the cold wave flooding, and achieved the highest scores in six categories: technological innovation, processing costs, human capabilities, mergers and acquisitions/joint ventures, country risk, and downstream/non-steel industries, recording an overall score of 8.62 out of 10 to rank first.

Founded in 1999, WSD evaluates 35 top steelmakers worldwide based on 23 criteria including technological innovation, cost reduction, processing costs, financial soundness, customer accessibility, and raw material accessibility, and has been publishing the comprehensive competitiveness rankings annually since 2002.

Source=POSCO

This ranking serves as an important reference indicator to gauge the management performance and future development potential of major global steelmakers. WSD explained that POSCO’s declaration of the vision "Adding value to the world with Green Steel" and its efforts to produce carbon-reduced steel were reasons for its high scores.

Meanwhile, POSCO was selected as the Sustainability Champion by the World Steel Association for two consecutive years last April, and in October this year, it won the ‘Sustainability’ category at the Steelie Awards.

On the 5th of this month, at the 1st Breakthrough Technology Conference hosted by the World Steel Association in Abu Dhabi, United Arab Emirates (UAE), POSCO presented its carbon neutrality strategy, the development status of its proprietary hydrogen reduction ironmaking technology ‘HyREX (Hydrogen Reduction Ironmaking)’, and low-carbon bridge technologies, leading the global steel industry toward carbon neutrality.