POSCO Press Releases

Participating in State-Run Project `Development of World Premium Material`
Aug. 06, 2010
- POSCO, consortium with SMEs ... Evaluated Highly as Win-Win Corporation

POSCO together with SMEs is leading and participating in the state-run project, `Development of 10 World Premium Material,` a future industry fostering project.

On August 2nd, the Ministry of Knowledge Economy announced the 10 members of the consortium for the `World Premier Material (WPM)` project, including POSCO which formed consortium with SMEs.

The WPM project is a state-run project with funds totaling 1 trillion KRW, with 100 billion KRW for each task to foster the world`s leading materials industry with continuous market dominance and being the first to commercialize and create new materials.

POSCO was selected as the leading institution for the `Environmentally Friendly Smart Precoated Steel Plate` and `Ultra-lightweight Magnesium Material for Transport Planes,` and as the subdivision leading institution for the `Ultrapure Silicon Carbon Material┤development project. POSCO CHEMTECH was also selected as a subdivision leading institution for the `Electrode Material for High Energy Secondary Battery` project.

The government especially commented that high scores were given to POSCO which formed consortium with SMEs, arranging for a win-win plan with SMEs.

POSCO in the `Environmentally Friendly Smart Precoated Steel Plate` development project plans to develop a ultra high-speed thin film coated steel sheet using the electromagnetic levitation and induction heating, contributing to the increase of durability while reducing weights of materials for automobiles, home appliances, and construction. The global market for this business is expected to reach 224 trillion KRW by 2018 and 14 SMEs including Austem and Infovion are also participating in the project.

The company will also carry out the `Ultra-lightweight Magnesium Material for Transport Planes` development project. POSCO plans to commercialize the magnesium plates and high strength bulk materials used for the exterior parts of transport planes in a short-term to expand the market. 16 companies are participating throughout the entire process including Noroo Coil Coating and Dongnam Precision.

In addition, POSCO was selected as the subdivision leading institution for the SiC single crystal section of the `Ultra-pure Silicon Carbon Material` consortium (leading institution: LG Innotek). The ultrapure SiC which is in its early developmental stage globally is material necessary to increase competitiveness of the green car, solar power, and LED industries.

POSCO CHEMTECH as a member of the `Electrode Material for High Energy Secondary Battery` consortium (leading institution: Samsung SDI) was selected to lead development of the cathode used for secondary lithium battery for next-generation automobiles.

The government will hold a deliberation committee within the month to finalize the project group and sign research cooperation agreements to start the commercialization research in full-scale.

Sangwook Oh sangwook@posco.com
(Data=Technology Development Department New Growth Technology Planning Group)