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[Alpha Biz=(Chicago) Reporter Paul Lee] POSCO and Samsung Electronics are going to expand cooperation in supplying and technology materials in the home appliance sector.
POSCO announced on the 25th that it will strengthen technical cooperation following the long-term supply contract of steel materials for home appliances with Samsung Electronics.
On the same day, POSCO Vice Chairman Kim Hak-dong visited Samsung Electronics' Suwon plant and met with key executives, including Samsung Electronics Vice Chairman Han Jong-hee, and agreed to expand exchanges and cooperation between the two companies. They promised to regularize meetings between the two major executives so that the cooperation can be carried out smoothly and produce results.
Vice Chairman Kim Hak-dong said, "Using the supply chain that integrates POSCO's global production subsidiaries and processing centers will contribute to securing stable materials and stabilizing production. POSCO will continue to jointly develop customized specialized steel with Samsung Electronics and provide the highest quality products."
Vice Chairman Han Jong-hee said, "Based on solid cooperation with POSCO, the two companies will use their capabilities and know-how to actively cooperate in a wide range of areas such as future growth industries and carbon neutrality."
Prior to the meeting, POSCO signed a long-term contract to supply cold-rolled, plated products and electric steel sheet products for home appliances to Samsung Electronics' home appliance and video display division for three years last month. It is the first time that POSCO and Samsung Electronics have signed a long-term supply contract.
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