POSCO on Wednesday signed a memorandum of understanding with Google Inc. to share the U.S. search engine company’s technologies to improve its operations and corporate values.

The partnership was built upon POSCO chairman Chung Joon-yang’s proposal during Google executive chairman Eric Schmidt’s visit to Korea early this month.

Chung and Schmidt discussed how to use Google’s corporate service and future business opportunities, POSCO said.

Under the MOU, the steelmaker plans to establish a new management system called POSPIA 3.0 using Google’s search, map and three-dimensional technologies in all areas ranging from facilities and logistics to environment, energy and safety.

POSCO said it will make use of Google’s technologies to embody a digital virtual factory, introduce a global logistics monitoring system, establish a disaster prevention system and automatize offloading machinery.

(sophie@heraldcorp.com)