July 25, 2008

POSCO to constructs the Global R&D Center

It is reported that POSCO is constructing the Global R&D Center in Songdo Free Economic Zone in order to grow as a sustainable global corporation leading the steel industry. POSCO on April 23rd 2088 held its ground breaking ceremony for the Global R&D Center. The construction will begin from next month and is expected to be completed by June 2010.

The Center will have a total floor area of 98,564 square meters on 82,560 square meter site and will consist of a research block, experiment block, multipurpose hall, accommodation facilities etc.

Once the Global R&D Center is established, about 530 research personnel from the POSCO Technology Research Center & funded companies, POSTECH and Research Institute of Industrial Science & Technology will be stationed permanently there for researching 8 categories including product usage, steel product usage in steel construction, steel fusion, intelligent automation, ubiquitous, non ferrous materials, environment and new & regenerative energy, and advanced fusion of nano & biotechnology.

Through the Global R&D Center, POSCO will actively provide support with the steel products usage technology to client companies concentrated in the greater Seoul areas, and will also further strengthen joint industry-university R&D networks and cooperative systems. Furthermore, by being at the forefront of next generation steel usage technology and advanced fusion technology development, which will be the new growth base for the future, it will be developed into a research center in charge of R&D for overseas investment businesses in China, India, Vietnam, etc.

Mr Ku Taek Lee CEO of POSCO said that “Expanding on the R&D activities in the areas around the Pohang & Gwangyang Works, POSCO is establishing the Global R&D Center in the Songdo area and this place will be developed into the Mecca of future technology competitiveness as an advanced global corporation.”