Korea’s top steelmaker POSCO is putting efforts into enhancing its automotive steel plate business as one of the few global companies that supplies steel sheets for carmakers.

Automotive steel plates, a cash cow steel product, are only supplied by some 20 out of about 800 steelmakers in the world. POSCO supplies 10 percent of the world total at 8.7 million tons. 

Earlier in January, the Korean steelmaker showcased its self-developed advanced steel technologies, such as twinning-induced plasticity steel and hot pressing forming steel, in a technology exhibition at the North American International Auto Show held in Detroit, Michigan.

TWIP steel, mainly applied to the front and back bumpers of vehicles, can withstand up to 100 kilograms per square millimeter pressure and boasts up to three times higher formability. HPF steel endures up to 150 kilograms per square millimeter and endures better formability under high temperature.

To speed up the automotive steel plate business, POSCO has rationalized the facilities of its automotive steel plate factory in Gwangyang, South Jeolla Province, and completed the construction of two automotive steel plate factories in China in May.

A factory for a continuous galvanizing line is also slated to be completed in Thailand soon.

By Lee Hyun-jeong (rene@heraldcorp.com)