POSCO E&C, which will celebrate its 30th anniversary next year, declared a new vision on Sept. 19, committing itself to being an eco-friendly, new growth company leader by nimbly coping with major trends such as eco-friendliness, digital and smart.
POSCO E&C established the new vision “Innovation Company Challenging the Limitations of the Business for Construction of Eco-friendly, Future Society.”
Under the catchphrase “Going Green for Next Generation,” POSCO E&C has set the goal of posting 25 trillion won in sales and 2 trillion won in operating profit by 2035 – 10 times more than the current corporate value.
In July, POSCO Group unveiled a plan to invest 121 trillion won by 2030 to grow into an eco-friendly, future material centennial company with a focus on core businesses, such as steel, secondary materials and hydrogen.
In keeping with the plan, POSCO E&C aims to contribute to the group’s joint growth and spearhead realization of real values by realizing POSCO Group’s vision through successful implementation of EPC projects of seven top core businesses, challenging eco-friendly transition businesses, and exploring and suggesting new businesses in advance.
The group‘s seven core businesses are steel, hydrogen, secondary battery materials, lithium/nickel, energy, construction and grain.
POSCO E&C is focusing on shifting to an eco-friendly business portfolio.
The company is transitioning into the dual core portfolio — the “Eco Biz” for building carbon reduction and green energy infrastructure and the “Urban Biz” for building eco-friendly future cities and smart infrastructure.
That will help the company realize the synergetic effects of convergence, going beyond the conventional mold of plant, infrastructure and construction.
In the Eco Biz sector, POSCO E&C plans to expand the low-carbon steel business by securing EPC capabilities of HyREX, POSCO’s green steel technology, to comply with carbon neutrality, the demand of the times, and grow into a global secondary battery EPC company by ramping up EPC competitiveness in the secondary battery raw material sector and offering optimal solutions for successful implementation of the group’s secondary battery material businesses.
POSCO E&C plans to spearhead future new energy resource/infrastructure technologies by building partnerships with specialized companies to participate in clean green energy projects, such as offshore wind power, SMRs, and hydrogen, since securing core technologies of future businesses is important.
In the Urban Biz sector, POSCO E&C plans to spearhead an eco-friendly architecture culture by planning future smart cities based on the experiences related to the development of Songdo International City, exploring eco-friendly green life products through innovation of all areas, such as safety, quality, productivity and profitability and leading modular architecture.
The company also aims to be an eco-friendly, future city top developer through convergence of infrastructure facilities and building of future transportation infrastructure.
POSCO E&C plans to ramp up the competitiveness of winning and carrying out EPC projects by securing proprietary technologies through participation in prior stages of EPC projects to preoccupy core technologies of future businesses.
POSCO E&C also plans to hit the gas to improve fundamentals to realize the vision.
In particular, the company plans to expand the development of future growth project experts and ramp up its organization through utilization of core expertise manpower, explore future convergence business models in cooperation with the group and secure diverse profit portfolio.
POSCO E&C plans to max out sympathy and motivation through smooth communication with staff about the direction of corporate changes and reinvent its corporate culture by setting execution-oriented working methods based on autonomy and creativity.
POSCO E&C President Han Sung-hee said, “With declaring of the vision, POSCO E&C executives and staffers will join forces to continue to challenge going beyond the limitations of the business as an eco-friendly company, and we will do our utmost to realize our company’s real values, corresponding to the catchphrase ‘Going Green for Next Generation’ by restructuring business portfolio into an eco-friendly business-oriented one, expanding value chains, increasing profitability and expanding overseas businesses.”
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