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BeyondEnergy,
BetterLife
POSCO ENERGY engages in a wide range of business activities in the energy sector with
the belief that "cleaner energy can lead to a better world to live in." We have been responsible
for the reliable supply of electricity for over four decades through our LNG Combined Cycle
Power Plant. We are also pushing ahead with projects involving off-gas combined cycle
power generation, coal-fired power generation, fuel cell, renewable energy, and the recycling
of resources. Powered by our experience and expertise accumulated in the Korean market,
we are continually gaining wider recognition and reinforcing our presence overseas.
We will build a better, happier world by successfully overcoming energy challenges and
reaching for our dreams as a comprehensive energy provider with a global presence.
About POSCO ENERGY
3. Better Life
30
32
34
36
2. Beyond Energy
29
16
20
22
24
12
26
POSCO ENERGY 1.
02
08
Environmental Management
Social Contribution
Corporate Culture and Shared Growth
Financial Highlights
Competence
Fuel Cell
Renewable Energy
Waste to Energy
Overseas Projects
Power Generation
R&D
About POSCO ENERGY
Vision
CEO Message
History
POSCO ENERGY
1
POSCO ENERGY strives to shape
a better world, fueled by the energy of
dreams and challenges. We achieve
our goals based on ceaseless efforts
and create greater value by challenging
convention. We seek to continually
grow and build a brighter future.
1969 ~ 2004
Established Kyung-In Energy Development Co., Ltd.
(joint venture of Hanwha Group and Union Oil)
Renamed Kyung-In Energy Co., Ltd.
Started the commercial operation of Incheon Power Plant
(324.8MW in total)
Established Hanwha Energy Co., Ltd.
(Hanwha Corp. Energy Division spinoff)
Renamed Korea General Energy Co., Ltd.
Completed the phased expansion of Incheon LNG
Combined Cycle Power Plant
(Units 1, 2, 3, and 4 / 1,800MW in total)
Nov. 1969.
Mar. 1970.
Feb. 1972.
Dec. 1999.
Oct. 2000.
Jan. 2002.
2014 ~ 20152005 ~ 2010 2011 ~ 2013
POSCO ENERGYHistory
1
POSCO ENERGY strives to shape
a better world, fueled by the energy of
dreams and challenges. We achieve
our goals based on ceaseless efforts
and create greater value by challenging
convention. We seek to continually
grow and build a brighter future.
POSCO ENERGY grew from the nation's very first independent power producer into its largest
independent power producer by boldly taking innovative steps and accepting challenges.
Through this challenging spirit, we are making leaps forward in various sectors - including
power generation, fuel cell, and renewable energy - to firmly establish ourselves as a globally
recognized comprehensive energy provider.
Renamed POSCO POWER Co., Ltd.
Acquisition of 100% POSCO Co., Ltd.
Launched the fuel cell business
(transferred from POSCO Co., Ltd.)
Completed the fuel cell BOP manufacturing facility
in Pohang (annual capacity of 100MW)
Completed Gwangyang Off-Gas Combined
Cycle Power Plant (284MW in total)
Sep. 2005.
Mar. 2006.
Feb. 2007.
Sep. 2008.
Dec. 2010.
Completed the fuel cell stack manufacturing facility
in Pohang (annual capacity of 100MW)
Completed Units 5 and 6 at Incheon LNG Combined
Cycle Power Plant (1,252MW / 3,052MW in total)
Renamed POSCO ENERGY Co., Ltd.
Initiated the CHP5 plant project in Mongolia
(450MW in total)
Began the construction of a fuel cell power plant
in Indonesia (300kW)
Completed the construction of Busan SRF
(Solid Refuse Fuel) Power Plant (24.8MW)
Began the construction of the cell manufacturing facility
for fuel cell in Pohang (annual capacity of100MW)
Completed Gyeonggi Green Energy Fuel Cell Power
Plant (58.8MW in total)
Mar. 2011.
Sep. 2011.
Feb. 2012.
Jul. 2012.
Sep. 2012.
Oct. 2013.
Nov. 2013.
Dec. 2013.
Completed Off-Gas Power Plant in Indonesia
(200MW in total)
Completed Pohang Off-Gas Combined Cycle Power
Plant (290MW in total)
Completed the entire Shinan Photovoltaic Power Complex
(14.5MW in total)
Advanced into the coal-fired thermal power generation
business in Samcheok (2,100MW in total)
Completed Tancheon Used Water Heat Energy
Utilization Facility
Began the commercial operation of Unit 1 of Mong
Duoung II Coal-Fired Thermal Power Plant in Vietnam
(600MW)
Began the commercial operation of Unit 2 of Mong
Duoung II Coal-Fired Thermal Power Plant in Vietnam
(600MW)
Completed Units 7, 8, and 9 of Incheon LNG Combined
Cycle Power Plant (1,260MW / 3,412 MW in total)
Jan. 2014.
May 2014.
Aug. 2014.
Sep. 2014.
Dec. 2014.
Mar. 2015.
Apr. 2015.
We build a better world, powered by the energy of dreams and challenges
Beyond Energy,Better Life
Pushing our
boundaries by
taking challenges
Attaining prowess
and becoming the
best in our sectors
Pursuing continued
growth
Reinforcing our
global presence
We make a brighter world by providing cleaner energy.
Mission
Vision
Core Values
We build a better world, powered by the energy of dreams and challenges.
Beyond Energy, Better Life
POSCO ENERGY employees always strive to accomplish
their dreams. Based on positive thinking and a proactive
attitude, we focus on improving our competence.
We establish feasible goals and work hard to achieve
them to make a difference in the world.
POSCO ENERGY never stops moving forward.
We push our boundaries based on passion and
ceaseless effort. We shape a better world by taking
innovative, forward-looking steps and thus create
greater value.
Vision
Proactive attitude / Challenging spirit
/ Professional mindset
Environmentally responsible growth
/ Creativity and innovation
Preservation of the eco-system
/ Corporate social responsibility
Trust / Consideration
/ Cooperation
Communication
Eco-conscious creativity
Passion
Co-prosperity
POSCO ENERGY 2 3 Beyond Energy, Better Life Vision
Gwangyang Off-Gas Combined Cycle Power Plant Pohang Off-Gas Combined Cycle Power PlantIncheon LNG Combined Cycle Power Plant Fuel Cell Hub in Pohang Installation of Fuel Cell Power Plant Sangam Fuel Cell Power Plant
Power Generation
We push our boundaries by proactively taking challenges
POSCO ENERGY has been responsible for the reliable supply of electricity
for the metropolitan area for over four decades since first entering the energy
business in 1969. We have also continually taken innovative steps as Korea's
largest independent power producer, including the opening of the nation's
first off-gas combined cycle power plant and the advancement into the coal-
fired power generation business. We are determined to create greater value by
proactively taking challenges and thereby pushing our boundaries.
We are always at the forefront of the industry by attaining technological prowess
POSCO ENERGY succeeded in gaining a solid foothold in the fuel cell sector,
which is lauded as a high-efficiency, eco-friendly energy source, by building
the world's largest fuel cell manufacturing facility based on state-of-the-
art technology. As the power producer holding the largest share of the local
market, we will continue to make active investments in R&D and achieve world-
class technological innovation to set global standards.
Fuel Cell
POSCO ENERGY 4 5 Beyond Energy, Better LifeVision
Mongolia
Indonesia
Vietnam
Eco-Friendliness Overseas Projects
We ensure continued growth by developing eco-friendly technology
POSCO ENERGY is focusing its resources on reinforcing its presence in
the sector of eco-friendly renewable energy sources, including photovoltaic
power and wind power. Our ceaseless efforts to study and develop renewable
energy sources can be seen clearly in the construction of our photovoltaic
power complex on an unused site and the utilization of waste and the heat from
used water treatment as energy sources. We will continue to push forward by
tapping the unlimited development potential of renewable energy sources.
We advance into new overseas markets based on our rich knowhow
We are moving forward with a variety of projects in different corners of the
world based on our rich knowhow in the development and operation of power
plants. Our off-gas power plant in Indonesia and coal-fired thermal power plant
in Vietnam are currently providing commercial service, while the construction of
a coal-fired CHP plant is underway in Mongolia. We will continue to grow into a
globally recognized comprehensive energy provider by advancing into overseas
markets including the Middle East and Africa and bringing each project to
fruition.
Jeonnam Onshore Wind Power Complex Busan SRF (Solid Refuse Fuel) Power PlantShinan Photovoltaic Power Complex Off-Gas Power Plant in Indonesia Coal-Fired Thermal Power Plant in Vietnam Coal-Fired CHP5 Plant in Mongolia
POSCO ENERGY 6 7 Beyond Energy, Better LifeVision
POSCO ENERGY, Korea's first and largest IPP, continues to march forward to grow into a globally recognized comprehensive energy provider.
POSCO ENERGY engages in power generation, fuel cell and renewable energy as the
energy expert of the POSCO Family and continues to make leaps forward towards the goal
of growing into a globally recognized comprehensive energy provider.
POSCO ENERGY has recently completed the construction of Units 7, 8, and 9 at the Incheon
LNG Combined Cycle Power Plant, which now boasts a total capacity of 3,412MW, and
continues to ensure a reliable supply of electricity across the metropolitan area. We are
also operating Off-Gas Combined Cycle Power Plants in Gwangyang and Pohang with
the 300MW-grade capacity, which are fueled by off-gas generated from the steel-making
process.
We launched a subsidiary company, POSPOWER, as a step to prepare ourselves for
advancing into the coal-fired thermal power business, and a 2,100MW-capacity thermal
power plant is scheduled to be completed in Samcheok by 2021. In addition to the existing
LNG-fired power business, we believe the reliably expanding coal-fired thermal power
business will drive our sustained growth throughout the future.
Furthermore, we are planning to deliver 100% locally manufactured fuel cell with the
opening of a cell manufacturing facility in 2015. Fuel cell is an eco-friendly, high-efficiency
decentralized power source that does not require a transmission network. At present,
POSCO ENERGY's fuel cell power plants are in operation and under construction in over
20 locations across the nation. We have successfully opened a 60MW-grade fuel cell power
complex in Hwaseong, Gyeonggi-do, which boasts the world's largest scale and testifies to
our acumen in executing large-scale projects.
POSCO ENERGY's fuel cell business was recognized as a perfect fit with the Korean
government's creative economy policy and selected by the government as a "Flagship
Project" that serves as a future growth engine. We plan to further nurture the fuel cell
business as the next-generation, export-centered business of POSCO ENERGY. We also
believe that our fuel cell, developed on the foundation of POSCO ENERGY's expertise over
more than a decade, will serve as a driver for Korea's economic progress.
As for our renewable energy business, we are operating a 14.5MW-capacity photovoltaic
power complex in Shinan-gun, Jeollanam-do and are pushing ahead with the construction of
a 100MW-capacity onshore wind power complex. We are the nation's first energy provider to
run a 25MW-grade SRF power plant, which is located in Busan. We are also actively involved
in waste-to-energy projects such as supplying the district heating power by using the heat
generated from used water treatment.
We are striving to develop into a globally recognized comprehensive energy provider by
engaging in overseas projects, including off-gas power generation in Indonesia, coal-fired
power generation in Vietnam, and coal-fired CHP in Mongolia.
We will remain dedicated to building a brighter world fueled by cleaner energy by pushing our
boundaries through various energy projects and realizing our vision "Beyond Energy, Better
Life".
Your continued support and interest will serve as the driving force that pushes us forward.
Thank you.
Dong-Jun Yoon
President and CEO of POSCO ENERGY
CEO Message
BeyondEnergy, BetterLife
POSCO ENERGY 8 9 Beyond Energy, Better LifeCEO Message
As an energy provider,
we aim to help people dream
the impossible and turn it into reality.
We seek to push our boundaries
and create greater value.
We strive to build a better tomorrow
by providing the energy of dreams
and challenges.
2
BeyondEnergy
POSCO ENERGY 10 11 Beyond Energy, Better Life
The Incheon LNG Combined Cycle Power Plant, which is responsible for 16.5% of the power
supply for the entire metropolitan area, operates a total of seven combined cycle power
generation units. To ensure a reliable power supply, the high-efficiency units 7, 8, and 9 with
a total capacity of 1,260MW were recently installed. Together with units 3 and 4 (900MW)
and units 5 and 6 (1,252MW), the combined total installed capacity of the plant now reaches
3,412MW.
We conduct thorough pre-inspections to promptly respond to the changing power demand
and prevent any unexpected outages, thus ensuring a reliable supply of electricity across the
metropolitan area.
We plan to transform an unused site within the plant into a comprehensive cultural space
for neighborhood residents by 2016. A variety of sports facilities, including a soccer field,
tennis court, multi-purpose ballpark, and baseball batting cage, will be created along with a
beautiful nature trail and scenic garden to reach out to the communities we serve.
LNG Combined Cycle Power Generation
Units 7, 8, and 9
Unit 4
Unit 3
Units 5 and 6
We engage in various power generation sectors including LNG combined cycle power generation, off-gas combined cycle power generation, and coal-fired thermal power generation. We supply electricity in a reliable manner based on our diversified power generation portfolio.
Power Generation
*COD = Commercial Operation Date
Unit Capacity COD* Composition (MW)
Units 3 and 4 900MW 1999 (Unit 3) 2001 (Unit 4)
G/T 6 units : 600 S/T 2 units : 300
Units 5 and 6 1,252MW Feb. 2011 (Unit 5) Jun. 2011 (Unit 6)
G/T 4 units : 812 S/T 2 units : 440
Units 7, 8, and 9 (replacing Units 1 and 2)
1,260MW Jul. 2014 (Unit 7) Oct. 2014 (Unit 8) Jan. 2015 (Unit 9)
G/T 3 units : 825 S/T 3 units : 435
Incheon LNG Combined Cycle Power Plant Installed Capacity of Incheon LNG
Combined Cycle Power Plant
(unit : MW)
2010
1972
2011
2015
1,800
3,052
3,412
(Units 1-4)
(Units 1-6)
(Units 3-9)
324.8Location 363 and 314 Jungbong-daero 405
Beon-gil, Seo-gu, Incheon
Site area 158,898m² for Units 1-4, 295,274.8m² for Units 5-9
Fuel LNG (Liquefied Natural Gas)
Installed capacity 3,412MW in total
POSCO ENERGY 12 13 Beyond Energy, Better LifePower Generation
Off-gas compressed by a gas compressor is supplied
to a gas turbine, in which primary power is produced.
Then, the discharged high-temperature exhaust gas
is recovered and supplied to a steam turbine for the
production of secondary power.
Power plant
Steelworks
Off-gas generated from the
steel-making process is provided
as a fuel.
The Principle of Off-Gas Combined Cycle Power Generation
Location Within Gwangyang Steelworks, 1800 Jecheol-ro, Gwangyang, Jeollanam-do
Site area 32,177m²
Completion date Dec. 2010
Installed capacity 284MW in total (Units 1 and 2)
Fuel BFG (Blast Furnace Gas) + COG (Coke Oven Gas)
The Off-Gas Combined Cycle Power Plants in Gwangyang and Pohang produce electricity
using surplus off-gas generated from the blast furnace of each location's steelworks.
The Gwangyang Plant, the nation's first of its kind to be built, was completed in December
2010. Its total installed capacity reaches 284MW. It is responsible for a crude-oil import
substitution effect worth 57 billion KRW and the reduction of greenhouse gases equivalent to
180,000 tons per year.
The Pohang Plant, the world's first to produce electricity using the fuel combining BFG
(Blast Furnace Gas) and FOG (FINEX Off-Gas), is equipped with facilities with total installed
capacity of 290MW. It introduced SCR (selective catalytic reduction) and established internal
standards (30ppm) much more stringent than legal standards (50ppm) to minimize nitrogen
oxide emissions and set an example in improving air quality.
Off-Gas Combined Cycle Power Generation
Installed Capacity of Gwangyang
and Pohang Off-Gas Combined Cycle
Power Plants
(unit : MW)
284
429
574
2010
2013
2014
Gwangyang Off-Gas Combined Cycle Power Plant
Unit Capacity COD Composition (MW)
Unit 1 142MW Aug. 2010 G / T 1 unit : 86 S / T 1 unit : 56
Unit 2 142MW Dec. 2010 G / T 1 unit : 86 S / T 1 unit : 56
Unit Capacity COD Composition (MW)
Unit 1 145MW Sep. 2013 G /T 1 unit : 88.9S / T 1 unit : 56.1
Unit 2 145MW Mar. 2014 G / T 1 unit : 88.9S / T 1 unit : 56.1
Pohang Off-Gas Combined Cycle Power Plant
Location Within Pohang Steelworks, 6262 Donghaean-ro, Nam-gu, Pohang,
Gyeongsangbuk-do
Site area 45,000m²
Completion date Dec. 2010
Installed capacity 284MW in total (Units 1 and 2)
Fuel BFG (Blast Furnace Gas) + COG (Coke Oven Gas) + FOG (FINEX Off-Gas)
We have actively moved forward with the coal-fired thermal power business with the launch
of our subsidiary, POSPOWER. An environmental impact assessment for the construction
and operation of a 2,100MW-capacity coal-fired thermal power plant in Samcheok is
scheduled to be completed in 2015, and two 1,050MW-grade power generation units are
to be constructed in December 2020 and July 2021, consecutively. We are reinforcing our
foothold for sustained growth supported by our steadily growing presence in the coal-fired
thermal power sector in addition to our competence in LNG-fired power generation.
Coal-Fired Thermal Power Generation
Coal-Fired Thermal Power Plant in Samcheok
Location Jeongno-dong and its surrounding areas, Samcheok, Gangwon-do
Site area 2,300,000m²
Fuel Coal (bituminous coal and sub-bituminous coal)
Installed capacity 2,100MW in total (1,050MW x 2 units)
Scheduled to be completed in 2021
POSCO ENERGY 14 15 Beyond Energy, Better LifePower Generation
The electric power produced is supplied to
local residential and industrial facilities.
Residential and industrial facilities
Transformer Electric precipitator
Stack Gas coolerTurbine room
Heat recovery steam generator
We are ready to expand our presence in the global market with the 100% local production of fuel cellthat are a high-efficiency, eco-friendly energy source.
Fuel Cell A fuel cell is a high-efficiency, eco-friendly decentralized power source. POSCO ENERGY's
fuel cell business was recognized as a perfect fit with the Korean government's "creative
economy" policy and selected by the government as a "Flagship Project" that serves as a
future growth engine.
A fuel cell is a next-generation power generator that produces electricity and heat using
electrochemical reactions between hydrogen and oxygen. It is easy to install almost
anywhere as it does not take up much space. It can reliably generate power around the clock
all year round, while ensuring minimum energy loss and optimum power generation efficiency
by directly converting chemical energy to electrical energy. It is also an environmentally safe
energy source as it does not produce any NOx or SOx.
Fuel Cell
EfficientBoasts the highest level of efficiency compared to all existing power generation facilities
ConsistentProduces electricity around the clock, all year round
ConvenientEasy to install even in the center of a city because it does not take up much space
DistributedCost-effective because it produces and supplies electricity directly
The Optimum Decentralized Power Solution
300kW
Power output : providing for 380 households (assuming each household consists of four persons)Installation area : 95m²Suitable for : small-scale production facilities and mid- and large-sized buildings
2.5MW
Power output : providing for 3,200 households (assuming each household consists of four persons)Installation area : 500m²Suitable for : power plants, large-sized buildings, landfills, and wastewater treatment plants
Fuel Cell Products
MBOP (fuel supplier) Stack EBOP (power converter)
HRU (Heat Recovery Unit)
• Mechanical devices that provide hydrogen and oxygen (including heat exchangers, humidifiers, and reformers)
• Referring to the structure of layers of a cell that consists of electrodes, electrolytes, and divider plates
• Producing electricity using electrochemical reactions of hydrogen and oxygen
• Converting direct current generated from the stack to alternating current and taking charge of the system control
Direct current
Power converter
Electric power
HeatHeat
recovery unit
Steam / Hot water
LNG / Biogas
H2
O2
Cathode
Electrolyte
Anode
Principles of Fuel Cell Power Generation
POSCO ENERGY 16 17 Beyond Energy, Better LifeFuel Cell
Gyeongsang-do Gangwon-doIncheon and Gyeonggi-doSeoul
충청
Gyeonggi Green Energy Hwaseong, Gyeonggi-do
Byucksan Engineering Busan Used Water Treatment Plant
KOGASSamcheok, Gangwon-do
SK E&S Godeok-dong
POSCO ENERGY Nowon-gu, SeoulMay 2009 / 2.4MW
POSCO ENERGY Sangam-dong, SeoulSep. 2010 / 2.4MW
Seoul Children's Grand Park Gwangjin-gu, SeoulJan. 2012 / 0.1MW
Korea East-West Power Co. Unit 1 in Ilsan, Gyeonggi-do Oct. 2009 / 2.4MW
Korea East-West Power Co. Unit 2 in Ilsan, Gyeonggi-doSep. 2011 / 2.8MW
Korea East-West Power Co. Unit 3 in Ilsan, Gyeonggi-doFeb. 2013 / 2.8MW
Samchully S-Power Gwangmyeong, Gyeonggi-doJan. 2015 / 5MW
TCS1 Units 1 and 2 of Daegu Seongseo Industrial ComplexJun. 2011 / 11.2MW
POSCO ENERGY Pohang, Gyeongsangbuk-doDec. 2008 / 2.4MW
Korea East-West Power Co. UlsanSep. 2013 / 2.8MW
Busan Fuel Cell Power BusanJan. 2012 / 5.6MW
Jeolla-do
VirtualTek Gunsan, Jeollabuk-doSep. 2008 / 2.4MW
MPC Yulchon Power Units 1 and 2 in Yeosu, Jeollanam-doOct. 2009 / 4.8MW
MPC Yulchon Power Units 3 and 4 in Yeosu, Jeollanam-doDec. 2011 / 5.6MW
Korea South-East Power Co. Bundang, Gyeonggi-doJun. 2009 / 0.3MW
POSCO ENERGY IncheonJan. 2010 / 2.4MW
Korea Western Power Co. IncheonOct. 2014 / 11.2MW
GS EPS Dangjin-gun, Chungcheongnam-doOct. 2009 / 2.4MW
Korea Midland Power Co.Boryeong-gun, Chungcheongnam-doJan. 2009 / 0.3MW
Chungcheong-do
Equivalent to planting about 450,000 trees
About 450,000 trees
Panoramic view of the fuel cell hub in Pohang
MCFC Testing Lab
Service Center
BOP Manufacturing Facility
Stack Manufacturing Facility
Cell Manufacturing Facility
1
2
3
4
5
3
4
5
1
2
POSCO ENERGY has installed fuel cell power plants equivalent to 149.2MW in total in more
than 20 locations in Korea, including Gyeonggi Green Energy - acclaimed to be the world's
largest fuel cell power plant. As evidenced by these figures, we are successfully responding
to RPS (Renewable Portfolio Standards) and contributing to sustainable development.
Status of Fuel Cell Installation
Installed capacity: 19.6MW (Nov. 2014)Producing electricity that can provide for about 40,000 households※ Cited as a decentralized power solution case study utilizing the largest scale of fuel cell in Seoul(Evaluated to have contributed to the improvement of Seoul's energy independence)
Installed capacity: 58.8MW (Dec. 2013)Providing for 70% of household electricity consumption and 10% of heat consumption in Hwaseong※ Evaluated to have contributed to the power supply stabilization of the nation for the first time as a renewable energy provider
Installed capacity: 1.2MW (May 2010)Biogas put to use at the Gangbyeon Office of Busan Environmental Corporation in Saha-gu, Busan ※ Cited as the nation's first fuel cell installation case using biogas
Installed capacity:0.3MW (Dec. 2014)KOGAS in Samcheok, Gangwon-doLNG production base※ Cited as the world's first fuel cell installation case using BOG
149.2MW In operation in over 20 locations
Expected Effects of 2.5MW Fuel Cell
Reduction of NOx emissions equivalent to the amount emitted from 1,500 automobiles
About1,500 automobiles
POSCO ENERGY 18 19 Beyond Energy, Better LifeFuel Cell
Since 2007, POSCO ENERGY has actively conducted R&D and made investments to secure
original technology for fuel cell, develop fuel cell commercialization technology, and build
manufacturing facilities. We plan to achieve a phased 100% localization of fuel cell from their
installation and construction to the development of the cell, which is the key technology. We
are also equipped with a world-class fuel cell technology lab, providing total solutions for the
fuel cell power system including its technological development, manufacturing, installation
and construction, and maintenance and repair.
Fuel Cell Hub in Pohang
The World's Largest and Asia's First Fuel Cell Manufacturing Facility
Location 153-154, Yeongilman 88 Beon-gil, Heunghae-eup, Buk-gu, Pohang,
Gyeongsangbuk-do
Production capacity 100MW a year
Site area 210,000m²
Facilities R&D Lab, Service Center, Testing Lab, and Production Plants
Process of Fuel Cell Localization
STEP 1 STEP 2 STEP 3 STEP 4
STACK MBOP
CELL EBOP
STACK
CELL
MBOP
EBOP
STACK MBOP
CELL EBOP
STACK MBOP
CELL EBOP
Localization roadmap
Localization of components
Sale of imported finished products
BOP localization Stack localization Cell localization
- Sep. 2008- Mar. 2011- Jul. 2015-
FCE (of the US) POSCO ENERGY
Initiation date (based on the completion date of the manufacturing facilities)
As a frontrunner in the eco-friendly energy sectors, we are striving to expand our renewable
energy business, including photovoltaic power and wind power, and thus contribute to low-
carbon green growth. As for photovoltaic power generation, we are evaluated to have set an
example of eco-friendly business practices that improve community well-being by building
and operating a 14.5MW-capacity photovoltaic power complex on a closed salt field in
Shinan-gun, Jeollanam-do.
As for wind power generation, the nation's first 30MW-capacity commercial offshore wind
power complex is under construction in the public waters of Jeju-do, in addition to a large-
scale offshore and onshore wind power complex in Shinan-gun, Jeollanam-do. We are
working hard to meet RPS and consistently contribute to the advancement of Korea's wind
power industry. We will continue to achieve technological innovation and take up new
business challenges to further expand our boundaries in the renewable energy sector.
Renewable Energy
We will remain committed to advancing renewable energy sources such as photovoltaic power and wind power and achieving sustained low-carbon, green growth to ensure a cleaner world.
Renewable Energy
Photovoltaic Power Generation
Wind Power Generation
Palgeum-myeon, Shinan-gun, Jeollanam-do
Shinan Photovoltaic Power Complex
Capacity
1st-phase commercial service : 2MW (Feb. 2012)2nd-phase commercial service : 5MW (May 2013)3rd-phase commercial service : 7.5MW (Jun. 2014)
Note An eco-friendly power complex built on a closed salt field
Location
Jaeun-myeon, Shinan-gun, Jeollanam-do
Jeonnam Onshore Wind Power Complex
Capacity Onshore Wind Power Complex - 100MW (currently being developed)
Offshore Wind Power Complex - 300MW (scheduled to be developed)
Note Promotion of mutual growth with local communities by using wind turbines
produced in Jeollanam-do
Public waters of Dumo-ri and Geumdeung-ri, Hangyeong-myeon, Jeju-do
Tamna Offshore Wind Power Complex
Capacity Offshore Wind Power Complex - 30MW (currently being developed)
Note Korea's first commercial offshore wind power complex
Location
Location
POSCO ENERGY 20 21 Beyond Energy, Better LifeRenewable Energy
Photovoltaic and Wind Power
Business Development Plan
(unit : MW)
2015
2016
2017
2018
56.5
14.5
114.5
144.5
Effects of Eco-Friendly Energy Businesses
Power outputProviding for the consumption of 95,000 households per year
Reduced CO2 amount per year154,000ton CO2
Total capacity144.5MWShinan Photovoltaic Power Complex's 14.5MW + Jeonnam Onshore Wind Power Complex's 100MW + Tamna Offshore Wind Power Complex's 30MW
We recover recyclable resources, such as household waste and heat generated from used water treatment, to produce energy. It is part of our effort to replace fossil fuels and preserve the environment.
Waste to Energy We produce energy by utilizing recyclable resources, such as household waste and heat
generated from used water treatment. Through the SRF power generation business, we turn
household waste into fuel and produce electricity. SRF power generation is also serving as a
solution for the shortage of landfills and environmental problems arising from landfills while
promoting the reduction of greenhouse gas emissions.
Our district heating service using heat generated from used water treatment is designed
to recover heat energy from used water discharged from households with heat pumps and
reuse it as heat suited for district heating.
Recycling of Resources
Busan SRF (Solid Refuse Fuel) Power Plant
POSCO ENERGY separates combustible waste from noninflammable waste, turns
combustible waste into fuel, and produces electricity.
SRF (Solid Refuse Fuel) Power Generation Method
Location Saenggok-dong, Gangseo-gu, Busan
Completion date Oct. 2013
Installed capacity 24.8MW (900 tons of waste / day)
Expected effects Replaced LNG amount : 70,000,000Nm3 of LNG / year
Reduced CO2 emissions: 74,000 tons of CO2 / year
To be buried To be sold To be recycled as SRF
·Reducing waste treatment costs·Replacing fossil fuel
Waste Waste Selection Process Effects
Food / Residues Metal Combustibles
Exclusive boiler + Steam turbine (large-scale power generation / heat
supply for multiple communities)
CHP
Utilization Process of Heat Energy from Used WaterPOSCO ENERGY supplies district heating by recovering heat energy generated from used
water, which is treated at a used water treatment plant, with heat pumps.
District Heating Supply Business Utilizing Heat Generated from Used Water Treatment at Tancheon Used Water Heat Energy Utilization Facility
200,000Gcal / yearOutput
Completion date Dec. 2014
Tancheon used water Heat Energy Utilization Facility in Gangnam-gu, Seoul
Location
Expected effects Replaced LNG amount :19,000,000Nm3 of LNG / year
Reduced CO2 emissions : 44,000 tons of CO2 / year
CompressorUsed water treatment plant
District heating facility
Expansion valveRiver District heating user
Heat exchanger (evaporator)
Heat exchanger (condenser)
Used water treated and discharged (12℃) Refrigerant (12℃) Refrigerant (80℃) 70℃ 110℃
Refrigerant (7℃) Used water treated and
discharged (7℃) Refrigerant (70℃) 55℃
Heat absorption Heat dissipation
Flow of Used Water Heat Flow within the Heat Pump Flow of District Heating Water
POSCO ENERGY 22 23 Beyond Energy, Better LifeWaste to Energy
We conduct projects in different corners of the world, including Indonesia, Vietnam, and Mongolia. We are making leaps forward to become a globally recognized comprehensive energy provider based on our experience and expertise.
Overseas Projects The AES-VCM Mong Duong Ⅱ Coal-Fired Thermal Power Plant is Vietnam's first coal-
fired BOT (Build Operate Transfer) project. Unit 1 initiated its commercial service in March
2015 and Unit 2 did so in April of the same year, with the total installed capacity reaching
1,200MW. POSCO ENERGY plans to operate the plant for 25 years starting in 2015 when
the production of electricity begins in full scale and then transfer the operating rights to
the Vietnamese government for free. The plant is equipped with SCR (selective catalytic
reduction to reduce NOx) and FGD (flue gas desulfurization to reduce SOx) to keep the
generation of pollutants at a minimum.
Vietnam Coal-Fired Thermal Power Plant
The Off-Gas Power Plant in Indonesia, which is POSCO ENERGY's very first advance into the
global market, is also Southeast Asia's first off-gas power plant. It produces 200MW per hour and
provides for about 600,000 households for a year in Indonesia. This project was jointly conducted
by POSCO ENERGY and POSCO. Off-gas generated from POSCO Integrated Steelworks is
used as fuel and works to reduce CO2 emissions by one million tons per year.
IndonesiaOff-Gas Power Plant
Location Within POSCO Integrated Steelworks, Cilegon, Indonesia
Completed in Jan. 2014
Installed capacity 200MW (100MW x 2 units)
Note POSCO ENERGY's first overseas projectOverseas project jointly conducted
by POSCO Family companies
Fuel BFG(Blast Furnace Gas)+COG(Coke Oven Gas)
+LDG(Linz Donawitz Gas)
Unit Capacity COD Composition (MW)
Unit 1 100MW Mar. 2014S/T : 100MWBoiler : 360ton/hour
Unit 2 100MW Apr. 2014S/T : 100MWBoiler : 360ton/hour
Location Quang Ninh Province in the northernpart of Vietnam
Completion date Apr. 2015
Installed capacity 1,200MW-grade(600MW-x 2 units)
Note Power plant conveniently located at the mine mouth
Fuel Anthracite
Unit Capacity COD Composition (MW)
Unit 1 600MW Mar. 2015S/T : 600MWBoiler : 1,912 ton/hour
Unit 2 600MW Apr. 2015S/T : 600MWBoiler : 1,912 ton/hour
MongoliaCoal-Fired CHP5 Plant
POSCO ENERGY has won the right to construct and operate the 450MW-capacity Coal-
Fired CHP5, which is Mongolia's largest, and plan to form a multinational consortium to push
ahead with the project. Groundbreaking will take place in 2016 in the outskirts of the capital
city of Ulaanbaatar, Mongolia. POSCO ENERGY will operate the plant for 25 years after its
completion and then transfer the operating right to the Mongolian government for free.
Location Ulaanbaatar, Mongolia
Scheduled to be completed in 2020
Installed capacity 450MW (150MW x 3 units)
Note Mongolia's largest IPP project participated in by multilateral
international financial organizations
Fuel Coal
POSCO ENERGY 24 25 Beyond Energy, Better LifeOverseas Projects
We are working to improve power generation efficiency by reusing low- and mid-temperature waste heat discharged in the LNG combined cycle power generation process. We recently registered a patent for the "combined cycle power generation system and its control method aimed at improving power generation efficiency using absorption heat pumps." We are also conducting research on ways to supply heat produced with heat pumps to district heating service providers.
Waste Heat Recycling System
We actively engage in energy research powered by our world-class R&D staff and aggressive investment. We aim to achieve greater growth through the development of innovative high-efficiency, eco-friendly technology.
R&D
We are known for our world-class energy research system. We are working hard to
develop high-efficiency, eco-friendly technology powered by our top-tier research staff and
aggressive investment, as shown in our achievements in various sectors including power
generation, fuel cell, energy storage, and the recycling of resources. We aim to remain at the
forefront of the world's energy industry by taking our research competence to the next level.
R&D
Status of Technological Development
Area Goal Major items
Power generation
• To reinforce power generation technology (to improve power generation efficiency by recycling waste heat energy)
• Development of mid- and low-temperature waste heat utilization technology (Reaction steam turbine, mid- and low- temperature waste heat recovery system, etc.)
Fuel cell
• To diversify the business portfolio by specializing in the fuel cell market through technological convergence, etc.
• Diversification of fuel in addition to LNG by encompassing IGCC, off-gas, and biogas• Development of high-efficiency MCFC products• Development of plant convergence products
Energy storage
• Mid- and large-capacity energy storage system (ESS) development
• Development of a Na based battery module and system technology
Recycling of resources
• To reduce costs by diversifying power generation fuel• To continuously develop technology that can serve as a new growth engine throughout the future
• Development of technology to turn waste resources into gas (to expand the fuel base previously consisting of LNG to encompass waste resources also)
Invested Amount
(100 million KRW)
Staff (persons)
Status of R&D Staff and
Investment
18369
9853
16171
251126
2011
2012
2013
2014
ESS (Energy Storage System)The need for energy storage systems is continually growing to ensure the efficient use of limited energy and the reliable management of renewable energy. ESS is designed to store electricity in a storage system and supply stored electricity as needed and selected to maximize energy efficiency.
We installed ESS at energy-guzzling, inefficient buildings and workplaces and demonstrated its effect. We also installed it jointly with photovoltaic power facilities in island areas and succeeded in substituting diesel-fueled power generators. We will draw on such experiences and further expand the power generation business through renewable energy projects, such as the creation of the Eco-Friendly Energy-Independent Island, and microgrid (localized power grid) projects utilizing ESS.
POSCO Center's ESS
Waste Gasification
Gear Box
Base frame
Oil circulation system
Turbine core Oil cooler
Generator
We came up with a small-sized 1MW-grade disk-type reaction steam turbine that can generate electricity from waste heat energy. This disk type is simpler than the existing blade type and lower-priced than imported turbines. The turbine spins and generates power by using the force of steam sprayed from the disk. Low and mid temperature waste heat measuring 100-200℃ can be used to generate power. This world's first disk-type reaction steam turbine was developed in collaboration with the small business HK Turbine Co., Ltd. and is evaluated to be an excellent example of mutual growth.
A 200kW-grade turbine was recently purchased by Cheonil Energy, an energy provider in Pocheon, Gyeonggi-do, and a 700kW-grade turbine will be additionally supplied by the end of 2015. We plan to advance into the Southeast Asian market including Indonesia and Malaysia with a new decentralized generation system fueled by biomass.
Disk-Type Reaction Steam TurbineOperation Principle of Reaction Turbine
The disk spins by the reaction force of the sprayed steam from the disk through nozzles.
Rotor Disk
Nozzle
POSCO ENERGY is currently developing gasification technology, a type of eco-friendly waste-to-energy technology, to utilize solid waste fuels. Steam and heat as high as 850℃ are added to waste fuels to produce syngas, which is then turned into methane gas through chemical reaction to fuel gas engines and turbines.
Unlike the existing electricity production method using heat generated from burning waste, the gasification system generates synthetic natural gas by adding heat with the gasifier. Gasification technology contributes to the reduction of pollution from waste burial and incineration and to economic development based on its high power generation efficiency.
Waste Gasification
Gasification system
Gasifier
Filter
Cyclone Tar
removal Sulfur
removal Chlorineremoval
Gasification fuel
Power generation facilities
CHP Steam/Air
Thermal power
POSCO ENERGY 26 27 Beyond Energy, Better LifeR&D
3
BetterLife
Competence
POSCO ENERGY 28 29 Beyond Energy, Better LifePOSCO ENERGY Beyond Energy, Better Life28 29
BetterLife
We remain at the forefront of the market based on our competence. As the nation's first IPP, we have pushed ahead
with the Incheon LNG Combined Cycle Power project and currently operate the nation's first off-gas combined
cycle power plant. Furthermore, we initiated the nation's first commercial offshore wind power project and
completed the nation's first SRF power plant. We are also moving forward with Vietnam's first coal-fired thermal
IPP project. We will continue to pioneer such firsts in the industry driven by our rich experience.
LeadershipCompetence
First IPP
Rich experience
Stable experience
No.1
Industry leader
We always remain on the cutting edge through constant R&D. We have continued to conduct research and invest in the
development of fuel cell technology and the construction of its manufacturing facilities since 2007. At present, the BOP and
stack manufacturing facilities have been successfully completed, and the phased localization of cell, which forms the core
of a fuel cell, is coming to an end. We also succeeded in developing and commercializing the world's first disk-type reaction
steam turbine. We will continue to create mid- and long-term growth engines by engaging in different research projects from
the recycling of waste resources to the energy demand response and decentralized power generation.
Technology
Differentiated technology
100% localization of fuel cell production
Disk-type reaction steam turbine
Waste to energy
Industry
leader in
technological
development
POSCO ENERGY 39 40 Beyond Energy, Better LifePOSCO ENERGY Beyond Energy, Better Life28 29
BetterLife
Competence
We are advancing into the world based on our efficient global strategy. We took our first step with the off-gas
power generation project in Indonesia and moved on to reap notable results in Vietnam and Mongolia. Based
on our world-class generation and O&M knowhow and technological innovation accumulated over the past four
decades in the local market, we are expanding our business not only in Asia but around the world. We will grow
into a globally recognized comprehensive energy provider by continuing to reinforce our presence in the global
market.
Global Strategy
Globally recognized
comprehensive energy
provider
Exporting power plant
O&M
Efficient global
strategy
Expanding business
around the world
High-caliber human resources are the prime mover of our growth. Based on our expertise in the sectors we are
involved in, our integrity and humanity, and a focus on bringing positive change, we foster talented POSCO ENERGY
members and help them grow into globally competent leaders of the energy industry who recognize the value of
challenge and trust. Our employees are touted as experts equipped with competitiveness and leadership who value
diversity, interact with others, and shape a brighter future with creativity and passion. We plan to continuously
reinforce our human resources cultivation system to produce talented POSCO ENERGY members.
Human Resources
The world's best energy
leader
Integrity and humanity
Focus on bringing positive change
Expertise in our sectors
POSCO ENERGY 41 42 Beyond Energy, Better LifePOSCO ENERGY Beyond Energy, Better Life28 29
BetterLife
We try to better serve all stakeholders
and contribute to making this world a
better and friendlier place.
We are striving in an organized
manner to fulfill our responsibility as a
corporate member of society.
POSCO ENERGY 43 44 Beyond Energy, Better LifePOSCO ENERGY Beyond Energy, Better Life28 29
Recycling rate of waste
36.4 %
We shape a greener future with our eco-friendly technology
Operation of Eco-Friendly Power PlantsOperation of the Environmental Management System (ISO 14001)We have introduced ISO 14001 to optimize the operation of environmental equipment
and spread environment improvement activities enterprise-wide. We plan to reinforce our
environmental management system by conducting half-yearly self-assessments and post-
assessments in association with outside experts.
Prevention and Minimization of Environmental ImpactWe conduct environmental impact assessments to minimize environmental pollution when
building a power plant. After the completion of construction, we make sure to take follow-up
measures by analyzing our impact on the ecosystems of surrounding areas and to affect the
environment as little as possible.
What's more, we have established a well-organized management system for air quality,
water quality, waste, and chemical substances, and we conduct real-time monitoring
using TMS (telemetry monitoring system). As for the management of air quality and water
quality, our in-house management standards are much more stringent than applicable legal
standards, reflecting our effort to not only comply with laws and regulations but proactively
and voluntarily reduce our environmental impact.
Response to Climate ChangeEnergy Efficiency ImprovementWe established the enterprise-wide greenhouse gas reduction action plan and put it
into operation at all workplaces to minimize greenhouse gas emissions. We are striving
to decrease energy consumption by improving equipment efficiency and optimizing the
operation of generators, recycling waste heat, and installing high-efficiency lighting.
Renewable Energy Business ExpansionWe are actively responding to the government's policy to increase the supply of renewable
energy by advancing into the renewable energy business such as photovoltaic power, wind
power, and fuel cells. We are also faithfully adhering to the requirements regarding the
Renewable Portfolio Standards.
The environment must be protected and kept
intact. We are strengthening our position as
an eco-friendly energy company by building
an environmental management system and
pursuing greenhouse gas reduction activities.
Environmental Management
※ The amounts of NOx emissions and consumed water
for industrial use do not include the fuel cell workplaces.
Status of Environmental Management Monitoring (2014)
Status of Energy Reduction (2014)
0.19 ton/MWh
Water used
Amount of NOx emissions
0.13 kg/MWh
3,504 ton CO2
Reduced amount of greenhouse gas emissions
7,515 MWh
Reduced amount of electricity use
POSCO ENERGY 30 31 Beyond Energy, Better LifeEnvironmental Management
Slogan Energy for a better world
Representative programs
Energy Dream - welfare program for energy-deprived families • Started in : 2012• Area: all workplaces• Details : Financial aid is given to build social
welfare facilities and help improve the energy efficiency of households in need
Community Child Center for a Better World - educational support for children from energy-deprived households• Started in : 2013• Area : Incheon• Details : College student volunteers are dispatched as teachers and financial aid is given for facility improvements
Employees'activities toshare withothers
Types of major volunteer programs• Team-specific : Volunteer service individually carried out by teams or department on Saturdays
• Family-friendly : Volunteer service that can involve all family members
• Strategically designed : Volunteer service involving energy industries
• Enterprise-wide : Volunteer service that bringstogether all the employees of POSCO Family companies
1% Sharing Charity FundThe members of the managing staff are required to donate 1% of their base pay and the rest of the employees can freely take part.The company provides a matching grant equivalent to the amount donated by the employees. This fund is designed to create a culture of sharing that brings together the management and employees.
Energy DreamWe are conducting energy efficiency improvement projects in the local communities near
our workplaces. We install and upgrade insulation, windows and doors, heating equipment,
and photovoltaic power equipment for substandard housing and welfare facilities. We strive
to create a pleasant and safe residential environment for all through the safety inspection
service of our employees. We produce and distribute cold-weather supply kits in the winter
months every year. Through these activities, we help underserved households reduce their
energy costs and decrease greenhouse gas emissions.
Community Child Center for a Better World'Community Child Center for a Better World' is a program designed to reach out to
underprivileged children of communities near our workplaces. We provide scholarships,
tutoring classrooms, and financial aid for teaching materials and equipment used at schools
to support their learning. College student members of the Hope-Instilling Energy Volunteers
are dispatched to serve as tutors to local children's centers in Incheon. Air conditioning costs
and repair costs for tutoring classrooms are also sponsored to help the children's academic
pursuits.
Representative Programs
Major Volunteer ActivitiesPOSCO ENERGY provides ample opportunities for employees to take part in volunteer
service and reach out to others. Sharing Saturdays is a team-specific program in which
individual teams and departments participate in volunteer work arranged by over 30 in-house
volunteer service organizations. The family-friendly Themed Volunteer Service provides
the chance for all family members to engage in volunteer service along with college student
volunteers. Energy-Inspired Service is a strategically designed program that capitalizes on
our energy projects. The enterprise-wide POSCO Family Volunteer Service brings together
all the POSCO Group member companies.
1% Sharing Charity FundThe participating employees voluntarily agree to have their donations for 1% Sharing Charity
Fund deducted from their salary, and the company provides a grant to match the amount of
donations made by the employees. This program is evaluated to have brought the company
and the employees closer together, while also reaching out to our neighbors in need.
Employee Participation Activities
We share the energy of hopes and spread loveThe energy that instills warmth into the world
comes from hope. POSCO ENERGY creates
hope by conducting diverse programs to
serve the community on a corporate level in
an organized manner.
Social Contribution
• Number of benefited households and facilities: 57 households and 6 facilities• CO2 reduction : 62,819kg• Equivalent to planting : 11,218 trees• Amount of reduced energy costs : 18,812,000 KRW
Achievements of Energy Dream (2014)
Achievements of Community Child Centerfor a Better World (2014)
• Number of Support Centers : 10 (Seo-gu, Incheon)• Number of supported children : 255• Number of Hope-Instilling Energy Volunteers : 100• Total hours of volunteer service by college student volunteers : 4,576 hours
POSCO ENERGY 32 33 Beyond Energy, Better LifeSocial Contribution
We adhere to the principles and seek to grow with our partners
Programs to Grow with Partners
Mutual Growth Supporters
Payments for partners made 100% in cash
Fair Trade and Mutual
Growth Agreement
Benefit Sharing
We strive to actively communicate with our
employees and partners to achieve co-prosperity.
We aim to build an ethical corporate culture and
help our partners grow with us.
Corporate Culture and Shared GrowthEthical ManagementWe aim to be trusted and respected by all stakeholders. Our principle in all decisions
and action is "Do the right thing the right way." Our in-house programs to promote ethical
management include the ethical management practice building program, which is voluntarily
participated in and operated by all our employees to prevent ethical risks; education for the
prevention of unethical practices; and inspections for any violations of the code of ethics.
Appreciation SharingWe are striving to build a happier workplace where employees can generate and share
positive energy through the Happy Energy and Appreciation Sharing Campaign. The title
of this campaign symbolizes the message "Share your hearts, show your appreciation,
and love each other." It reflects our belief that "happy energy and love can be more widely
spread throughout society when each individual stays open-minded and bravely expresses
appreciation for his/her colleagues, the company, and the community." To this end, we are
broadcasting the appreciation sharing program around the end of the office hours and have
installed the Appreciation Talk Talk bulletin board in the most-frequented spaces to share
stories text-messaged to us.
Corporate Culture Centered on Integrity
Fair TradeWe are striving to better respond to the changing needs of society and build a corporate
culture centered on co-prosperity. We remain vigilant to conform to fair trade laws and
regulations and operate our CP (Compliance Program) to prevent any violations. We received
an A rating by the Fair Trade Commission in recognition of our strong CP.
We are also taking the lead in maintaining upright transaction practices through adhering to
a transparent and fair business procedure from the selection and management of partners
to the conclusion and application of contracts. We focus on strictly following the partner
selection and evaluation guidelines specified in our purchase regulations and remaining fair
throughout the new partner registration and evaluation process. We remain committed to
forming fair relationships with our partners by keeping the online bidding process fair through
the purchase system and ensuring transparency in each and every stage from bidding to the
conclusion of contracts.
Mutual GrowthWe work hard to grow and thrive with our partners. To promote the drive for co-prosperity
of smaller companies, we have agreed to and complied with the Fair Trade and Mutual
Growth Agreement set by the Fair Trade Commission. As such, we took steps to improve the
competence of our partners: we make payments for purchases from small- and mid-sized
partners 100% in cash; we provide financial aid as well as management consulting services
and training opportunities; and we protect their core technology through the technology
deposit system. We are also actively involved in diverse joint development projects with our
partners through Benefit Sharing and operating the Mutual Growth Supporters program
unique to the POSCO Family, which is designed to help resolve pending issues faced by
smaller companies. Furthermore, we finance the sources of investment in mutual growth to
lay a firm foundation for the continued growth of small- and mid-sized companies.
Shared Growth
POSCO ENERGY 34 35 Beyond Energy, Better LifeCorporate Culture and Shared Growth
POSCO ENERGY 36POSCO ENERGY 36POSCO ENERGY 36 Beyond Energy, Better LifeBeyond Energy, Better Life
We continue to challenge convention to
push our boundaries.
We create greater value to shape a
brighter tomorrow.
“Beyond Energy, Better Life”
We build a better world based on our will
to take action and bring positive change.
Head Office
16th floor, POSCO Center West Wing, 440 Teheran-ro, Gangnam-gu, Seoul l Tel: 02-3457-2114
Future Energy Campus
363 Jungbong-daero, 405 Beon-gil, Seo-gu, Incheon l Tel: 032-550-8500
Incheon LNG Combined Cycle Power Plant
314 Jungbong-daero, 405 Beon-gil, Seo-gu, Incheon l Tel: 032-580-5008
Gwangyang Off-Gas Combined Cycle Power Plant
Within Gwangyang Steelworks, 1800 Jecheol-ro, Gwangyang, Jeollanam-do l Tel: 061-790-8487
Pohang Off-Gas Combined Cycle Power Plant
Within Pohang Steelworks, 6262 Donghaean-ro, Nam-gu, Pohang, Gyeongsangbuk-do l Tel: 054-220-8737
Pohang Fuel Cell Manufacturing Facility
153-154, Yeongilman, 88 Beon-gil, Heunghae-eup, Buk-gu, Pohang, Gyeongsangbuk-do l Tel: 054-250-1300
Financial Highlights
77.6%STIC Investment
8.1%
SkyLake Incuvest
14.3%
Shareholder StatusCredit Rating
A1Corporate Bill
AA+Corporate Bond
Division 2012 2013 2014
Total Assets 33,158 40,220 46,457
Total Equity 9,411 15,881 15,845
Total Liabilities 23,747 24,338 30,612
Assets
2014
2013
2012
3,8
903,6
12
2,447
EBITDASales(unit : KRW 100 million)
(unit : 100 million KRW)
(unit : KRW 100 million) (unit : KRW 100 million) (unit : KRW 100 million) Net ProfitOperating Profit
2014
2013
2012
29,011
25,337
28,052
2014
2013
2012
2,382
2,748
1,
043
2014
2013
2012
1,448
1,778
184
Financial Highlights
2012 2013 2014
Debt Ratio
252
153
193
(unit : %)
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