OREANDA-NEWS. May 17, 2013. With President Jun-Yang Jeong and the representatives of 31 companies for a program to grow into mid-sized global companies attending, POSCO have held `A Consultation to Grow Mid-Sized Global Companies` at POSCO Center and reviewed the performance of the last two years and the future support plan.

POSCO had signed up on an agreement to grow those 30 POSCO partners into mid-sized global companies by 2020. POSCO have selected 7 facility suppliers, 16 material suppliers and 7 customer companies in order to create a sound corporate ecology and have run a mutual growth program with a tailored growth plan that considers unique characteristics of each company.

Four suppliers of the 16 companies, namely KC Cottrell, BHI, Chosun REF, and Koh-a Jung Gong, have grown into mid-sized companies within two years since the agreement. Their average revenues have increased by 50.8% over the two years, showing a continuous growth in revenues despite the global economic crisis. The average revenues of the last two years of all companies that POSCO has supported in growth have increased by about 34%.

President Tae-Young Lee of KC Cottrell (Manufacturer of dust collection facility) which is one of the four companies that has grown into mid-size said at the event, ``With a variety of support by POSCO, we got wings and flew to the growth of a mid-sized company. Being a PCP (POSCO-Certified Partner) has benefited us greatly in penetration into overseas markets.``

A facility supplier Dongbang Plantech, a material supplier Samwoo Eco, and a customer company Sanil Electric among the companies in the agreement said that they will establish a foundation of growth by strengthening technical capability and focus on penetrating into overseas markets in order to grow as mid-sized companies.`` They also shared with other attendees their long-term growth plans in terms of enhancement of corporate culture, establishment of systems and infrastructure, and growth of engineers.

President Jun-Yang Jeong who hosted the consultation said, ``The commitment and responsibility of a CEO is very important to grow a company into a mid-sized one.`` ``POSCO will not spare any support and effort to help the companies grow based on trust and communication,`` he said.

POSCO has thus far helped those companies to grow into mid-sized global companies through supporting in establishing a training system with tailored training consulting, providing tax-diagnosis programs and entering into overseas projects together.

Now POSCO plans to introduce a new E-MBA course for executives of those partners to double their management capability and to provide an opportunity to benchmark small but strong German global companies, which is part of a plan to support them to learn the know-how of growth.

In addition, POSCO offers one-on-one business consulting where each targeted company will receive one director of POSCO as a consultant. POSCO will support them closely for their growth into mid-sized global companies.