POSCO (Pohang Iron and Steel Company) was founded in 1968, in an effort to become independent and drive economic development, following the Korean war. The company was established as a state owned company, and in 1973, the first pig iron was produced by the Pohang Steel Works. Steel products were then used to expand the capacity of the current operations.
POSCO is the largest fully integrated steel producer in South Korea, based on annual crude steel production. A substantial portion of steel production from the company is produced at the Pohang Works and Gwangyang Works. As of December 31, 2018, Posco had approximately 47.6 million tons of annual crude steel and stainless steel production capacity, including 17.6 million tons of production capacity of Pohang Works and 24.8 million tons of production capacity of Gwangyang Works.
Posco manufactures and sells a diversified line of steel products, including cold rolled and hot rolled products, stainless steel products, plates, wire rods and silicon steel sheets, and serves customers in manufacturing industries that consume steel, including automotive, shipbuilding, home appliance, engineering and machinery industries.
By geographic region, South Korea represents the company's largest by external sales volume and number of employees. South Korea sales accounted for 63.96% (KRW 41,671,930 million) of total revenue, and 99.27% (17,024) of total employees in the year end December 31, 2018.
Posco's major export market is Asia, with China accounting for 10.66% (KRW 6,945,266 million), Asia other than China, Indonesia, and Japan accounting for 11.22% (KRW 7,312,486 million), and Japan accounting for 3.20% (KRW 2,084,061 million) of total revenue in the year end December 31, 2018.
Posco is traded on four (4) exchanges: Korea Exchange (KRX): 005490; New York Stock Exchange (NYSE): PKX; London Stock Exchange (LSE): PIDD; and the Tokyo Stock Exchange (TYO): 5412.
Steel segment- The steel segment includes production of steel products and sale of such products. In the year end December 31, 2018, the steel segment accounted for 49.66% (KRW32,358,009 million) of total revenue.
Trading segment - The trading segment consists primarily of global trading activities and natural resources development activities of POSCO International. POSCO International exports and imports a wide range of steel products that are both obtained from and supplied to POSCO, as well as between other suppliers and purchasers in Korea and overseas. In the year end December 31, 2018, the trading segment accounted for 34.39% (KRW22,407,717 million) of total revenue.
Construction segment - The construction segment includes planning, designing and construction of industrial plants, civil engineering projects and commercial and residential buildings, both in Korea and overseas. In the year end December 31, 2018, the construction segment accounted for 10.39% (KRW6,769,410 million) of total revenue.
Others segment - The others segment includes power generation, LNG logistics, manufacturing of various industrial materials and network and system integration. In the year end December 31, 2018, the others segment accounted for 5.28% (KRW3,442,641 million) of total revenue.
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