OREANDA-NEWS. November 07, 2012. To commemorate commencement of operation of the Okgye magnesium refining factory in Gangneung, Gangwon-do, POSCO hosted a conference at the Korea Women`s Center on inviting client companies, reported the press-centre of POSCO.

Approximately 150 personnel attended the event, including POSCO President Kwon Oh-jun, from final magnesium client companies, Hyundai Motor Company Director Lim Jong-dae, GM Korea Managing Director Lee Ho-gi, Samsung Electronics Senior Researcher Lee Yeong-su, LG Electronics Senior Researcher Kim Ji-hyeon, as well as magnesium clients of Japan including Toyota Tsusho, Alchem, and Miyamoto Seisakusho, and domestic magnesium die casting related companies including Innocast and Kumoh EMS, all wishing for smooth supply of high quality magnesium ingot and vitalizing the domestic and international magnesium business.

The conference, which started with President Kwon Oh-jun`s welcome speech, was comprised of technical seminars on the magnesium refining business, magnesium automobile parts development, and the status of magnesium materials applied to electronic products, along with a factory tour program.

POSCO started construction of the annual 10,000 ton scale magnesium refining factory last June on 490,000m2 of land within the general industrial complex located in Okgye of the city of Gangneung, completing the factory construction in July, and after trial operations, started actual production and shipped the first magnesium ingot at the beginning of October.

In addition to pure magnesium, the magnesium refining factory is testing production of magnesium compound products and is expected to be able to supply automobile parts to domestic and international die casting companies.

The factory is also expected to contribute greatly in stabilizing supply for the domestic magnesium industry which has been fully reliant on China`s production, and further increase competitiveness of the industry.

POSCO, through magnesium ingot product production, plans to strengthen supply networks between family companies, and expand synergy in the non-ferrous metal material sector.

The magnesium refining factory plans to lighten automobile and electronic products, apply environmentally friendly materials, and establish an innovative operation process with the goal of stably supplying middle materials to the magnesium plate factory in Suncheon of Jeonnam province, and differentiate its products.

During the day`s events, magnesium plates with caricatures drawn on them were presented to participants along with an explanation of prototypes, to inform about the various usages of magnesium plates.