Vice Chairman Kim Yong-hwan of Hyundai Steel Co. (Photos: Hyundai Steel)

Hyundai Steel has been providing a wide range of social services in a number of countries in Asia under its vision entitled, “A 100 Years of Changes and Miracles Painted Together.” The countries included China, the Philippines, and Myanmar, among others.

This year will be no exception as the company wants to strengthen its competitive power by providing wide-ranging social services in various countries.

Hyundai Steel’s global service activities have been boosting its employees pride since it kicked off the social contribution services in 2014 to do its full share of corporate responsibility

The aim is not to conduct social services just once, but repeatedly and on a regular basis under a strategy to create a society for living together.

The steel maker kicked off its social service activities in six villages in Myanmar in 2014 with regional development projects (ADP) in Tawoonbarai, Myanmar, and built community centers, tap water tanks, and washroom in schools.

The company also sent its employees to teach painting, hygienic education and ways to communicate with local communities, among others, to broaden communication with the local communities.

The steel maker plans to conduct social service activities in the economically isolated North Samar State in the Philippines in cooperation with the Plan Korea, a professional social service organization in the next three years by conducting various activities.

The steel maker also helped to develop youth football in China by dispatching its Red Angels Football Team to China in 2016 based on the Korea-China Exchange Agreement, holding classes for youth football in the neighboring nation.

The steel maker also has been helping out at homes in Incheon, Pohang, Dangjin and Suncheon, where its plants and other business units are located, to save energy under its Home Repair for Hope Program from 2011.

On a global level, some 30 employees from Hyundai Steel in August last year traveled to Lope de Vega, a small village in Northern Samar, Philippines to help build roads for schools and repair welfare centers.

The company has also carried out an Area Development Project at six villages in Mandalay, northern Myanmar between 2014 and 2016.

It helped build community centers, drinking water storage tanks, wash rooms in schools and other facilities there.

Flat Steel is referred as the sheet, coils or other flat-rolled steel product. Growth of construction, & infrastructure sector ultimately drive the Flat Steel Market.

Additionally, the growing need of light weight automobiles on a global level is expected to increase the Flat Steel Market both by value and volume. In developed countries, Flat Steel products are largely used in automobile sector.

However, volatile the prices of raw materials are, it is expected to remain a key challenge for industry participants. The Flat Steel Market size was valued at around USD 380 Billion in 2015 and is expected to grow at CAGR of 6% by 2022.

The market is highly application based. The factors contributing to the growth of the Flat Steel Market are, surge in construction & infrastructural activities, and growing transport & renewable energy sector.

The market is expected to have higher growth rate as compared to the previous years. Asia-Pacific is the largest region for the Flat Steel Market, followed by Europe.

The key players of Flat Steel Market report include- United Steel Corporation, Nippon Steel & Sumitomo Metal Corporation, Essar Steel, Tata Steel Ltd, Hyundai Steel Co., POSCO, SSAB, ArcelorMittal, Voestalpine, and ThyssenKrupp.

A group of the members of Hyundai Steel Global Service Team play with children during their social service activities in Myanmar.