POSCO began its journey in 1968 with no capital, technology or experience under the dynamic leadership of President Tae Joon Park along with 39 employees as Pohang works. The company, followed governmental policy and focused on developing major infrastructure including steel production for modernization.
In a span of five years, it was in 1973, that Pohang Works completed the first production line with a 9.1 million tons production line for crude steel. Pohang Works was well established in 1983 after four expansions.
The implementation of sustainable and efficient facilities and the increase in productivity of crude steel pushed POSCO to the top of the world. The year 1999 was witness to a total revamping of the Company’s overall processes.
POSCO was privatized in 2000 and is working towards its goal to achieve production of 50 million tons of crude steel. It is expanding production base in overseas countries such as Vietnam and India, processing to build integrated steel mill. POSCO current installed capacity in year 2016 for GO steel is 300,000 MT