OREANDA-NEWS. September 11, 2014. POSCO Chairman Oh-jun Kwon visited the Geoncheon Plant of KISWIRE to meet with the KISWIRE executives and employees, including Vice Chairman Lee-moon, and discussed a cooperation strategy to further the technological development of high-value wire rod products.

In the meeting with KISWIRE executives and employees, Mr. Kwon said, ``POSCO is focusing its enterprise capability on growing with customers by boosting the value of both customers and POSCO through solution marketing that leverages the latest in technology. POSCO will focus its efforts on bolstering material production to enable KISWIRE can grow and develop into the world`s No.1 wire maker.``

In response, Mr. Lee commented, ``We are grateful to POSCO for its stable supply of quality materials. KISWIRE definitely needs to cooperate with POSCO if we are to make successful inroads into high-value product markets and win out against the competition to become one of the leaders of the wire industry.``

Mr. Lee reiterated the need for a continuation of the collaborative relationship in marketing and technologies. ``Our companies have a proud history of working closely with each other on the development of new steel materials. We plan to carry that 35-year history and we expect to see both organizations continuing with the development of competitive new steel materials and products, including POSFLEX.``

KISWIRE is the world`s No. 2 wire maker, operating business sites in China, Southeast Asia, the Americas and Europe. POSCO utilizes the global marketing infrastructure it already has in place to supply quality products to KISWIRE`s global sites.

Having set itself the goal of becoming one of the top global wire suppliers by 2020, KISWIRE is pushing ahead with the collaboration with POSCO in a bid to speed the development of technologies used in high-value products, such as tire cord, saw wire, spring wire, and bridge cable. Today`s steel market is characterized by the strong demand for tougher, more enduring materials, a situation which reflects the rising demand for wire rods used in marine energy plants and the shift in the energy mining environment to deep-sea and polar regions. In response, KISWIRE jointly develops high-function wire rod products such as POSFLEX in collaboration with POSCO, strengthening its global technological competitiveness.

Mr. Kwon hit the ground running following his inauguration, actively pursuing communication with internal/external customers to materialize site-centric, customer-centric management. He now plans to meet a variety of customers in the second half of this year, too, to listen to their voices and expand the opportunities for value production.