Founded in 1967 as Daewoo Industry, Co., Ltd., POSCO  has played a leading role in Korea's economic development by promoting exports. POSCO engages in the trading of a wide range of products from steel, automotive and components, machinery, and industrial electronics to non-ferrous metal, food resources, chemicals, commodities, and textiles, with both local and international customers. Moreover, POSCO plays an active role not only in the export and triangular trade of industrial machines and equipment but as a project organizer leading the implementation of overseas projects such as the EPC project and the independent power project (IPP).