South Korea’s largest steelmaker Posco won the steel industry leadership award at this year’s Global Metals Awards, the company said Wednesday.

Posco said it was selected as the winner at the awards ceremony, hosted by S&P Global Platts, for its business performance turning out relatively better than its competitors in times of protectionism spreading globally and worsening market conditions.

The Global Metals Awards recognize those that motivate the metals industry to new ways of thinking, embodying excellence in leadership, innovation, safety, integrity and overall performance, according to S&P Global Platts.

It is the second time the steelmaker has won an award at the event, having also won in 2018. Posco is the only Korean recipient so far.

The awards ceremony, which had been planned to take place in London, England, on Tuesday, was replaced as an online event due to the COVID-19 pandemic.

For this year’s awards, Posco was nominated as a finalist in three categories, including the leadership award, corporate social responsibility award and the award for breakthrough solution of the year.

By Jo He-rim (herim@heraldcorp.com)