Hyundai Steel announced recently that its Dangjin Steel Plant has produced over 60 million tons of steel products since Jan. 5, 2010, when the steel plant went on stream.
To turn out 60 million tons of steel, the plant needed 93 million tons of iron ore, 40 million tons of coal and 15 million tons of lime, and the volume of steel is large enough to provide steel for the production of 75 million cars, or 4,300 to 8,000 TEU container vessels, the steel mill said.
Hyundai Steel launched its blast-furnace steel production in 2010 and has been supplying its high-quality steel to a number of major export industries in Korea, including shipbuilding, automobile, electronics and machinery, taking over part of the role to boost the nation’s international competitiveness. The launching of operation at its Dangjin Steel Plant diversified its steel products from steel rods to various steel sheets, hot-rolled and cold rolled steel plates, among others, to put itself among the top 10 steel makers in the world with a competitive portfolio of steel products.
With the launching of the Dangjin Steel Complex, the steel maker’s sales and profit soared. Annual sales revenue rose to 14.47 trillion won and operating profit to 1.46 trillion won in 2015, an increase from 2009’s annual sales of 7.96 trillion won and operating profit of 578.1 billion won, respectively. The annual sales figures and operating profit in 2015 rose 82 percent and 154 percent from those in 2009, respectively,with the Danjin Steel Complex going on stream.
In the meantime, Hyundai Steel participated in the Offshore Technology Conference (OTC) held in Houston, Texas, on May 2 this year to display its technologies to produce offshore structures. The OTC is the largest global exhibition for offshore structures, attracting some 2,700 offshore-related firms, including major oil and EPC firms from 43 countries.
Hyundai Steel operated a booth jointly with KOMEA, a cooperative for offshore structure materials makers and suppliers and displayed high-quality steel sheets, a major material that goes into offshore structures, APTsteel plates for energy related structure and H-shaped steel and also held a seminar on technology to show off the shipbuilding, and technologies for the construction of offshore structure in Korea.
Hyundai Steel’s social service being provided in Myanmar is has been well received in the Southeast Asian country, as it enters its third year of activity there. The steel maker’s officers and staff helped repair educational facilities in Iayro village in Mandalay State, and conducted educational service for the young students of the school from June 26. They also installed a water supply facility in Iayti village near Iayro to ease water supply shortages in the village.
Founded in 1953 as the first steel firm in Korea, Hyundai Steel contributed to the industrial development of Korea.
Beginning in 2010, the company processed raw materials into finished goods with an integrated steel processing system. After opening its furnace in 2013, Hyundai Steel has become a global steel company producing 24 million tons of steel annually, the steel maker said.
The steel products made by Hyundai Steel are used in almost all industrial fields. From steel sheets for cars to thick plates for shipbuilding and rail for express railways, it produces diverse forms of steel plate and section shape steel and mechanic products with advanced technology.
“Over 10 of our product types were selected as ‘world class products’ and awarded by Korea’s Ministry of Trade, Industry and Energy,” Hyundai Steel said.
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A view of the Dangjin Steel Complex of Hyundai Steel with three blast furnaces located in Dangjin, South Chungcheong Province.(Photos: Hyundai Steel)
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