[News Space=Reporter seungwon lee] Korea's leading company POSCO was selected as the number one 'most competitive steel company in the world.'

World Steel Dynamics (WSD), a global steel analysis organization, announced the results of the 2024 World-Class Steelmaker Rankings on December 22 (New York local time).

Second place goes to Nucor from the United States. Third to fifth places are Nippon Steel, ArcelorMittal, and BaoWu Steel from China. ArcelorMittal is a multinational company created in 2006 through the merger of Indian steel company Mittal Steel and Luxembourg's Arcelor.

The 6th to 10th places were occupied by SDI from the US, Tata Steel from Europe, JSW from India, CSC from Taiwan, and Ternium from Mexico, respectively.

Founded in 1999, WSD has evaluated 35 steel companies around the world since 2002 on 23 criteria, including technological innovation, production scale, cost reduction, processing costs, financial soundness, accessibility to customers, and raw material acquisition. 

POSCO, despite difficult sales conditions at home and abroad, including a slump in the domestic demand industry, an onslaught of low-priced imported steel products, and growing global trade issues, ranked first overall with a score of 8.62 (out of 10), earning the highest score in five categories: technological innovation, processing costs, skilled labor, M&A/joint investment, and support/non-steel industries. 

This ranking serves as an important reference indicator for assessing the management performance and future development potential of major global steel companies.

Meanwhile, POSCO was designated as the World Steel Association's Sustainability Champion for the third consecutive year in April, and at the World Steel Association's Steelie Awards held in October, it simultaneously won the top award in three categories: ▲Technical Innovation, ▲Communication, and ▲Education and Training.