# POSCO builds 1 million ton gigasteel production system at Gwangyang

POSCO held an event at Gwangyang Steelworks to mark the completion of a 1 million ton annual production system for gigasteel (ultra-high-strength lightweight steel sheet). The company invested about 500 billion won sequentially since 2017 to add and expand gigasteel manufacturing facilities at the site.

- Type: Expansion
- Announced: 2021-09-17
- Where: Gwangyang, South Korea, South Korea
- Value: $425.0M (500.0B KRW)
- Starts operating: 17 Sep 2021
- Status: completed
- Capacity: 1,000,000 tons per year of gigasteel
- Products: gigasteel (ultra-high-strength lightweight steel sheet with tensile strength over 1 GPa)
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [POSCO](https://endata.com/companies/8856.md)

## Sources

- [ir.newspim.com](https://ir.newspim.com/news/view/20210917000081), 2021-09-17: "This gigasteel 1 million ton production system will be an opportunity for POSCO to firmly stand in a global advantage as a specialized supplier of eco-friendly vehicle materials in the rapidly growing new mobility market."
- [koreaherald.com](https://www.koreaherald.com/article/2691224), 2021-09-17: "I am confident that, from establishing the 1 million-ton production system, Posco will stand in a position of advantage in the global market as an eco-friendly auto parts supplier."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.