POSCO was named as the world's most competitive steelmaker for the seventh year running by World Steel Dynamics, a U.S. information service.
The rankings were announced on Tuesday at a conference in New York. POSCO scored a total of 7.91 out of a maximum 10 points to take the top spot. The Korean steelmaker scored especially high in skilled and productive workers, harnessing tech revolution, value-added product mix, and location in high-growth markets.
Hyundai Steel, owned by the Hyundai Motor Group, ranked ninth to join the top 10 for the first time, while Nucor, the biggest steelmaker in the U.S. and a major beneficiary of the fracking boom there, ranked second.
Third was Nippon Steel of Japan, and JFE, also of Japan, ranked eighth. Their rankings rose from last year because of their improved export competitiveness thanks to the weak yen. No Chinese steelmaker made it into the top 10.