POSCO has been recognized as the “World’s Most Competitive Steelmaker” for the 15th consecutive year. The announcement came from World Steel Dynamics (WSD), a global steel analysis institution, which revealed the results of its 2024 World-Class Steelmaker Rankings on December 22 in New York.
Established in 1999, WSD has evaluated steel companies worldwide since 2002 based on 23 criteria, including technological innovation, production scale, cost reduction, financial health, customer access, and raw material procurement. This year, POSCO secured the top spot with a score of 8.62 out of 10, despite challenging market conditions such as stagnant domestic demand, rising low-cost steel imports, and global trade tensions.
The company earned top scores in five categories: technological innovation, processing costs, skilled labor, mergers and joint ventures, and upstream and non-steel industries.
These rankings are an important benchmark for assessing global steelmakers’ management performance and future potential.
POSCO achieved other milestones in 2024. In April, it was named a Sustainability Champion by the World Steel Association for the third year in a row. At the Steelie Awards in October, the company also won in three categories: technological innovation, communications, and education & training.
POSCO’s consistent performance reflects its focus on innovation, sustainability, and operational excellence in the steel industry.