- Unveils Strategies for New Business Initiatives, including Smart Grid
- Finds the Key to Post-merger Synergies in offering solutions combining IT and Engineering Technologies

POSCO ICT (CEO Hur Nam-suk), a merged corporation of POSDATA and POSCON launched early this year, held a briefing session at the Yeouido Korea Exchange on July 29th. They briefed the investors on the achievements they have made after the merger and explained their future strategies.

POSCO ICT secured unique strength through the merger―the only company in the industry to own IT and engineering technologies. Levering this unique strength, POSCO ICT has been working vigorously to expand its business fields by identifying and winning large-scale projects that require integration of construction engineering with IT, such as Choongju NEXPOLIS and Universal Studio Resort Development projects. On other front, POSCO ICT’s efforts to enter into Utility and Energy areas are paying off in winning the bid for supplying Programmable Logic Controllers (PLC) for Shin Uljin Nuclear Power Plant Units 1 and 2 and taking part in the standard design of SMART (System-integrated Modular Advanced ReacTor), brightening the future of gaining further ground in this sector

POSCO ICT’s forming well-concerted cooperative relationships with POSCO and POSCO’s affiliated companies this year is also working in its favor. POSCO ICT is taking part in the construction of POSCO’s overseas steel works in India and Indonesia for starters. It also plans to establish a platform to expand into the international market by collaborating with Daewoo International. POSCO ICT is also involved in POSCO’s Smart Work and Smart Factory initiative: implementation of mobile office environment using Smart Phones and next-generation intelligent Steel Works.

POSCO ICT is also actively taking part in new projects of the eco-friendly green growth field including the Smart Gird. POSCO ICT recently invested USD 4 million in the US Xtreme Power to secure relevant solutions. Xtreme Power, headquartered in Texas, is currently developing proprietary technologies and solutions that can store up to 100 MW in a large-scale, solid-state energy storage.

POSCO ICT is also the first in the industry to have already begun working on the Smart Gird project. To secure a Smart Industry showcase, it is proceeding forward with relevant projects at the oxygen plant of POSCO’s Gwangyang Steel Works. And using the results of this project, POSCO ICT plans to expand its business into steel works at home and abroad. POSCO ICT plans on applying Smart Grid to its new Pangyo office building as well as to buildings of POSCO Group companies. Using these as reference, POSCO ICT plans on creating “Smart City” initiative to win Smart Grid projects in small and medium-sized cities.

To build market confidence on Smart Grid as quickly as possible, POSCO ICT will first win and deliver projects for the POSCO Group. And after obtaining sufficient reference from these projects, it plans to expand the project outside POSCO Group. POSCO ICT plans to take Smart Grid technolgies to the market with POSCO Power and POSCO Engineering & Construction to maximize synergy amongst POSCO Group companies.

In the second half of this year, POSCO ICT will go full steam ahead with LED lighting business. It plans on providing a total solution including manufacturing, supply, installation and system control of LED lightings in collaboration with POSCO and Seoul Semiconductor, with initial focus on the industrial and special lighting market segments that include high-power LEDs for plants.

During the presentation, a POSCO ICT source explained that, “In the latter half of this year, we plan to further specialize and expand our existing business fields including IT service, engineering, and process automation, while concentrating on Green Growth business such as Smart Grid, POSCO ICT’s strategic business area.”

POSCO ICT received orders of KRW 589.5 billion, and achieved sales of KRW 360.6 billion and operating earnings of KRW 9.5 billion in the first half of 2010.