POSCO is engaged in the production of steel products. It operates through the following divisions: Steel, Engineering and Construction and Trading . The Steel division produces cold rolled, hot rolled and stain less steel products, plates, wire rods and silicon steel sheets. The Engineering and Construction division includes planning, designing and construction of industrial plants, civil engineering projects, commercial and residential buildings. The Trading division exports and imports steel products and raw materials. It was founded on April 1, 1968 and is headquartered in Pohang, South Korea.