The global steel strategic information service World Steel Dynamics (WSD) announced the competitiveness evaluation results of global steel companies and named POSCO the best global steelmaker at the 36th Global Steel Success Strategies Meeting held in Miami for two days from November 8 to 9 in the USA.
POSCO scored a perfect 10 in seven categories: higher-value products, processing cost, technical innovation, manpower capability, new growth business, investment environment, and national risk, for the second consecutive year.
It also scored a perfect 10 in the category of financial soundness by preemptively securing starting materials and reducing the debt ratio for securing new growth engines, which CEO Choi Jeong-woo has emphasized since his inauguration. POSCO placed first overall with a score of 8.54 points (out of 10).
WSD, founded in 1999, evaluates 23 categories for major 35 steelworks around the world and announces a competitiveness ranking based on the total aggregate scores across categories every year.
Although POSCO experienced an unprecedented business crisis due to a global steel demand industry slump caused by COVID-19 last year, it broke the highest performance record since its foundation, with consolidated sales of 20.6 trillion won and operating profit of 3 trillion won in the third quarter of this year.
CEO Choi was appointed Executive Board of Director of the World Steel Association (Worldsteel) in October, and POSCO received awards in two categories, “Innovation of the year” and “Excellence in communications program” in the 12th Steelie Awards.