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South Korean steel giant Posco would advance its new construction steel brand, Innovilt, as its next-generation product hopes to reach its sales goal of 14 million tons by 2030.
The steelmaker had sold about 4 million tons of its products last year.
There is a combined yearly domestic demand of 22 million tons of construction steel-- 12 million tons for premium products and 10 million tons for steel bars.
According to Jeong Tak, head of the marketing division at Posco, their premium steel products are meant to meet the safety and environmental requirements for future construction projects.
To promote Innovilt, which it launched in November 2019, Posco will rely on the capabilities of its affiliates in producing premium construction steel products that meet the future construction market trends.
Among its group affiliates are Posco A&C and Posco International.
The Posco brand is widely used in architectural structures, interior and exterior construction works, and civil engineering projects.
