POSCO CEO to meet Eric Schmit
POSCO Chairman Chung Joon-yang Tuesday left for the United States where he will meet with Eric Schmidt, chairman of Internet giant Google, to discuss mutual business opportunities.
The Korean steelmaker is seeking to expand what it describes as a strategic partnership with Google, although company officials declined to reveal details of the agenda topics.
At the Google’s headquarters in California, ``Chung will discuss a wealth of issues with Schmidt, although his stay in the U.S. won’t be long,’’ said a POSCO official.
Chung also met Schmidt last year while he was in Seoul.
According to various industry sources, POSCO is interested in using Google’s search technologies and location-based information products, such as its GPS-enabled satellite and photo maps, to develop a real-time monitoring system for steel production and distribution.
The new system, which POSCO dubbed as POSPIA 3.0, will help the company improve efficiency through better inventory control and reduce costs in logistics and distribution.
POSPIA 3.0 will also provide three dimensional (3D) image simulations, video conferencing functions and automatic translation systems that could better connect POSCO officials with their clients.
``POSCO is aiming high to apply Google’s advanced web-based technologies because the new system could cut costs. Also, POSCO has been a trustable business partner with Google,’’ said another POSCO source.
The partnership with POSCO could also be an important experiment for Google as it looks to diversify its revenue sources from just search advertisements and online content.
``Google is expected to give POSCO all the support it can because the project will be a litmus-test to future market its technologies and solutions to manufacturing firms,’’ said the source.