Recently, Tata Steel Europe and South Korea's Posco Steel Corporation reached a cross-licensing agreement.

    According to the agreement, Tata Steel Europe will acquire PVD (Physical Vapor Deposition) technology developed by Posco Steel, which enables steel to obtain an anti-corrosion coating without heating during hot dip galvanizing. In exchange, Posco will be able to produce MagiZinc, a patented product of Tata Steel Europe. MagiZinc enables hot dip galvanized coatings to provide excellent corrosion resistance and reduce the weight of metal coatings. The cooperation between the two companies will help expand the application development of PVD and MagiZinc in the global market and expand market share.