Word: kwangyang
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...visit to the firm's Kwangyang operation shows why it's a global leader. Completed in 1992, the plant is laid out like a big assembly line, with barges transporting raw materials like iron ore in one end and finished steel out the other end. Capacity in the blast furnaces matches capacity in rolling mills down the line, yielding efficiencies. The plant is highly computerized, workers aren't unionized, and POSCO doesn't bear heavy pension costs...
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