POSCO : TCC Dongyang Achieves 7 Mil. Tons of Transactions with POSCO

- 40 years of a trusted partnership··· Both companies undertake win-win efforts Including a Joint TFT

TCC Dongyang has achieved 7 million tons in cumulative purchasing of POSCO steel products.

On January 5, POSCO invited and issued a plaque of appreciation to TCC Dongyang's chairman Bong-rak Son and other relevant officials, pledging to continue the flourishing partnership with TCC Dongyang.

▶ POSCO has invited and issued a plaque of appreciation to chairman Bong-rak Son and other executives of TCC Dongyang, which has achieved 7 million tons in cumulative purchasing of POSCO products. From left: TCC Dongyang director In-guk Seok, CEO Suk-hee Cho, chairman Bong-rak Son, POSCO senior executive vice president In-hwan Oh, senior vice president Dae-ryong Ha, and group leader Kyung-hee Kang.

TCC Dongyang is a company specializing in surface treatment and was founded by the late former chairman Yeol-ho Son in Seoul's Yeongdeungpo in 1959. TCC Dongyang started doing business with POSCO after the completion of its Pohang Plant in 1977 and achieved 7 million tons in cumulative purchasing of POSCO products in December of 2016, the 40th year since forming its business relationship with POSCO. 7 million tons equal the number of coils that can circle around the Earth 93 times or produce 336 billion small beverage cans.

Tin plates(tin-coated steel plates) which TCC Dongyang produces are mainly used for making packaging containers. However, the company has been experiencing difficulty due to the recent decline in demand following the advent of alternative materials such as aluminum and plastics, as well as global oversupply and low-cost imported materials.

To overcome such a crisis, last year, the two companies ran a joint task force for enterprise-wide cooperation in the areas of sales, production, quality, etc. in a bid to strengthen their competitiveness. Afterwards, they managed to increase their productivity by increasing their sales in the Korean domestic tin plate market as well as increasing the efficiency of their cooperation.

"I hope that POSCO and TCC Dongyang will rank among the world's most competitive companies. I also hope that the two will further their cooperation and their already solid and trustful partnership and become a community of fate that will lead the market in the future," said senior executive vice president In-hwan Oh, who attended the event.

TCC Dongyang chairman Bong-rak Son added, "TCC Dongyang's partnership with POSCO over the past 40 year has played a significant role in realizing today's TCC Dongyang, and I believe that if POSCO and TCC Dongyang join forces to overcome the current crisis, we will achieve a second growth spurt in a significantly shorter amount of time."