It took 32 years for the steelmaker to go from 100 million tons to 500 million tons. This 1-billion-ton achievement was reached in just 14 years, primarily due to developments in technology.

“With less than 50 years of steelmaking experience, POSCO has managed to achieve a next-generation, innovative steel-producing technology,” the company said in a statement.

Read the full story from The Korea Times here.