Korean steel giant POSCO catches Chongqing

Korean Pohang Iron and Steel Co., Ltd. (POSCO), one of the global steel giants, sees its next prosperity in Chongqing market.

POSCO (Chongqing) mainly engages in steel products which are needed in automobile and household electrical appliances industries, with a capacity of 180,000 tons/year.

It was the promising future of the automobile industry in Chongqing that attracted POSCO which set the only manufacturing center of west China in Chongqing, revealed by Jin Fengnan, the responsible person of Chongqing Manufacturing Center.

“POSCO takes up about 20% shares in Chongqing’s car plate market. And it may establish another center in Liangjiang New Area by 2015, as the automobile manufacturers’ demand for plate increases sharply,” said Jin.

Jin indicated that POSCO will have produced 400,000 tons of galvanized sheets by 2015 for 500,000 luxury cars and offer more than 3,000 jobs.

Deng Jun