POSCO and big three in steel study

POSCO, South Korea’s largest steel maker has agreed with the country’s three largest shipbuilders, Hyundai, Daewoo and Samsung, to set up a joint study group for the development of steel products for ships. The group will also study ways to improve the quality of thermo mechanical control process (TCMP) steel, a high-tensile steel developed by POSCO. TCMP steel is thinner and stronger than conventional products, but shipbuilders have so far refused to use the product because of quality problems and delayed delivery.