POSCO to set up logistics unit by end of 2020
2020-05-15 09:54:25 [Print]
POSCO will set up an affiliate in charge of group-wide logistics by the end of this year, the steelmaking group said on Tuesday.
The newly established subsidiary is tentatively titled POSCO Global Smart Platform ("GSP"). Regarding market concerns over POSCO's possible entry into either the shipping or logistics businesses, the steel giant clarified that the establishment of the unit is aimed at integrating the group's logistics functions, which are now individually scattered across its affiliates.
The logistics volume POSCO handled as of 2019 was about 160 million tons and the total logistics cost was around 3 trillion won. POSCO is one of the largest consignors in South Korea, importing 80 million tons of raw materials and exporting 16 million tons of steel products every year.
The soon-to-be-established logistics unit will be supported by its artificial intelligence (AI) and robot technologies. Plus, POSCO plans to provide subcontractors of POSCO GSP with in-house "smart factory technologies" that improve productivity and quality by using AI, big data and internet of things (IoT) technologies.
The newly established subsidiary is tentatively titled POSCO Global Smart Platform ("GSP"). Regarding market concerns over POSCO's possible entry into either the shipping or logistics businesses, the steel giant clarified that the establishment of the unit is aimed at integrating the group's logistics functions, which are now individually scattered across its affiliates.
The logistics volume POSCO handled as of 2019 was about 160 million tons and the total logistics cost was around 3 trillion won. POSCO is one of the largest consignors in South Korea, importing 80 million tons of raw materials and exporting 16 million tons of steel products every year.
The soon-to-be-established logistics unit will be supported by its artificial intelligence (AI) and robot technologies. Plus, POSCO plans to provide subcontractors of POSCO GSP with in-house "smart factory technologies" that improve productivity and quality by using AI, big data and internet of things (IoT) technologies.
