Major South Korean steel producer Pohang Iron and Steel Co. (POSCO) has announced that it plans to establish a total of over seventy steel processing plants worldwide. At present, POSCO has 41 steel processing plants in 14 countries.
POSCO is focusing on downstream industries in its development strategy, especially on the automobile industry.
With its steel service center commissioned one year ago in Bursa, Turkey, POSCO aims to claim a major share in the local Turkish automobile market, while around 70 percent of products from the center are expected to be exported to Europe. The steel service center has an annual capacity of 170,000 mt.