Korea-Based Steel Company POSCO To Promote Steel Technology At The 2016 North American International Auto Show In Detroit

by Diana Tomale / Jan 23, 2016 10:36 PM EST

POSCO joins 2016 North American International Auto Show in Detroit to showcase steel technology. (Photo by Chung Sung Jun/Getty Images)

South Korea's leading steel-making company POSCO headed to Detroit to showcase its steel technology in this year's North American International Auto Show which started January 11 until 24.

"POSCO plans to display POSCO's unique raw materials for the future of automobiles, such as twinning-induced plasticity steel (TWIP) and hot press forming (HPF), among others," the company announced through its website.

POSCO described TWIP as the "dream material" that has advanced its intensity and machinability, which was created by POSCO for the first time as a steel-making company.

"This steel's intensity is five times stronger than other steel in terms of machinability, while withstanding up to 100 kg per square mm. Therefore, it proves excellent in impact absorption and increased safety. This technology can be applied to bumper beams of automobiles. Many competitors have tried to develop TWIP, but failed to deploy it on a commercial scale," the company added.

In addition to this, POSCO will also present the 1GPa-TRIP, a newly improved steel with high intensity and ductility, and the PosM-XP (extra formability), the next creation TRIP with developed machinability.

Korea Joongang Daily reported Tuesday that the goal of the South Korea-based company at the auto show in Detroit is to present its car steel sheets, which are improved with high-strength steel. Said high-strength steel is reportedly 10 percent lightweight and two times stronger than usual steel.

"The car steel sheet business is part of the company's world-premium products and it is expected to improve our overall profitability as it is a high value-added product that makes big profits compared to other goods," a spokesman of POSCO said. "It's something that not so many companies can produce since it demands many complicated processes. Competing in normal products that any steelmakers - including Chinese - can produce is something we should not do."