Shandong Province-based Chinese steelmaker Qingdao Iron and Steel Group Co. (Qingdao Steel) has announced that it has signed a strategic agreement for further cooperation with Seoul-based South Korean company Kiswire.

According to Qingdao Steel, Kiswire has been playing a positive role in the development of its product quality and product grades in a 10-year cooperation, especially in terms of the quality of its steel cord. Kiswire has not only helped Qingdao Steel to increase market shares, but has helped it to upgrade its technological levels. Also, in 2014 Qingdao Steel intends to concentrate on high-end products, and expects high-end products to account for 54 percent of its overall output.

Kiswire is engaged in the design, development, manufacture and sale of various varieties of steel wires and related products. The company sells its products in its domestic market and also in various international markets including China, the US, Japan, Malaysia, the Netherlands, Switzerland, Singapore and Thailand.