POSCO E&C President and CEO Han Sung-hee.

The Park One Tower, an eye-catching, 72-story, twin skyscraper in Yeouido, Seoul, boasts colors resembling traditional Korean wooden structures, coupled with a façade that appeals to modern senses.

The Park One Tower, built by POSCO E&C, has emerged as a brand-new landmark in Yeouido along with the Hyundai Seoul.

POSCO E&C, established in 1994, is at the forefront of the Korean construction industry. POSCO E&C has grown to become a Big 5 contractor, as the company has implemented steelmaking, energy, industry plant, infrastructure facilities, high-rise buildings and urban development projects in an energetic fashion. POSCO E&C became the first Korean contractor to have its credit rating upgraded to A+ by improving financial soundness despite bad conditions caused by COVID-19 pandemic.

A view of the Park One Tower, built by POSCO E&C. (Photos: POSCO E&C)

The contractor strives to prioritize safety management this year. POSCO E&C President Han Sung-hee said, “Safety is the foremost value for its corporate survival and uncompromisable principle.”

In order to reduce blind spots, some 4,000 CCTV units have been augmented at each construction site, while smart systems employing IoT and AI technologies have been expanded.

Workers at cooperative companies have the right to refuse to work at an unstable situation by reporting it anonymously via a safety report box.

POSCO E&C has in place “Project+ing,” a companywide full-support program, designed to enhance the soundness of overseas projects by verifying and hedging risks from funds, taxes, and accounting prior to winning orders.

The contractor undertakes all processes, ranging from design to purchase, construction and O&M in cooperation with its subsidiary architecture design company, POSCO A&A and the comprehensive real estate service company, POSCO O&M.

POSCO E&C has made a splash in several areas such as the housing, infrastructure and plant segments. The contractor was awarded a 490 billion won project to build waste incinerators in Warsaw, Poland, last October.

POSCO E&C succeeded in winning a 600 billion won order to build the Metro III subway depot project in Panama, and a 350 billion won project to build a subway depot linking the northern and southern regions of the Philippines.

POSCO E&C’s successfully dedicating of an LNG terminal and combined cycle power plant project in Panama led to the winning of another LNG terminal and combined cycle power plant project in Dominica.

POSCO E&C is a leader in the Korean high-rise building construction market, with a track record of building three of the nation’s top five skyscrapers — Haeundae LCT the Sharp in Busan, which is 412 meters in height, Park One Tower in Yeouido, which is 318 meters in height and POSCO Tower, which stands 305 meters in height in Songdo, Incheon.

The contractor renewed its apartment brand “The Sharp” last year. The renewal may be construed as POSCO E&C’s determination to usher in the “The Sharp 3.0 Era” in pursuit of enhanced housing values.

The contractor has come up with four ultimate values under the concept “Advance in Core” — reliable safety, reinforced convenience, cozy relaxation, and sophisticated design.

POSCO E&C opened “The Sharp Gallery,” a publicity space designed to make a pitch for the apartment brand in Gangnam, Seoul. The contractor is at the forefront of a new architecture technology sector with a combination of big-ticket steel plates and architecture.

The contractor has proved to have demonstrated a competitive edge in the big-ticket housing market by using high-quality steel plates, produced by POSCO as inside and outside finished materials.

POSCO E&C ranked first in 2020 for the fourth consecutive year in a survey of apartment brand loyalty, conducted by Korea Management Association Consulting.

The contractor placed first for 11 years in a row in annual rankings of “Korea Quality Satisfaction Index,” announced by Korea Management Association.