April 23, 2024

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[THE INVESTOR] South Korea’s top steelmaker Posco held a ceremony to mark the increased capacity of its mill for the production of high-end Hyper No, grain-oriented electrical steel, the firm said on Feb. 20.
 
The ceremony took place at the company’s steel mill in Pohang, North Gyeongsang Province, and was attended by some 100 related officials including Posco Chairman Kwon Oh-joon. 

The facility has the capacity to produce some 160,000 tons of grain-oriented electrical steel annually, the firm said.

Such steel is used to make household electrical appliances such as refrigerators and vacuum cleaners. Grain-oriented electrical steel is also needed to make motors installed in eco-friendly vehicles. “There is a growing demand for eco-friendly cars and household electrical appliances. The expanded facility will enable us to respond to the market’s needs,” Kwon said at the ceremony. 

By Kim Bo-gyung/The Korea Herald (lisakim425@heraldcorp.com)