POSCO headquarters in Pohang, North Gyeongsang Province / Courtesy of POSCO

POSCO was once again named the world's most influential steelmaker, a title it has held for 15 consecutive years, according to rankings by a global steel industry research firm.

World Steel Dynamics, an analytics and research consulting firm, announced its 2024 World-Class Steelmaker Rankings last Sunday, selecting POSCO as the top player.

In the rankings, POSCO claimed the highest overall score of 8.62 out of 10, after gaining the top score in five categories of technological innovation, processing costs, skilled labor, mergers and acquisitions and influence on downstream industries.

World Steel Dynamics was established in 1999 and has been announcing the rankings since 2002. The rankings evaluate 35 steelmakers across the world in 23 categories including technological innovation, manufacturing volume and cost saving. The rankings serve as an important benchmark for evaluating the operational performance and future growth potential of major global steelmakers.

POSCO said it is an achievement after overcoming challenging market conditions such as sluggish domestic demand, an influx of low-cost imported steel and stringent global trade environment.

Following POSCO was Nucor of the United States and Nippon Steel of Japan. Among Chinese firms, BaoWu Steel was ranked No. 5.

In April, POSCO was named a Sustainability Champion by the World Steel Association for the third consecutive year. At the Steelie Awards in October, the company achieved top honors in three categories: technological innovation, communications and education and training.