SEOUL, Feb. 16 (Korea Bizwire) — South Korea plans to create a fund worth 150 trillion won (US$116.9 million) to provide assistance for steelmakers’ transition to a low-emission production structure and to boost competitiveness, the industry ministry said Thursday. Industry Minister Lee Chang-yang and chiefs of the country’s seven major steelmakers, including POSCO Holdings Inc., [...]
SEOUL, Feb. 16 (Korea Bizwire) — An increasing number of South Korea’s large companies are introducing ‘four group, two shift’ systems instead of the previous ‘four group, three shift’ systems at manufacturing sites with young employees in their 20s and 30s emphasizing work-life balance. Under the ‘four group, two shift’ system, two groups work 12 [...]
SEOUL, Feb. 14 (Korea Bizwire) — POSCO Holdings Inc., South Korea’s top steelmaker, said Tuesday it has signed a memorandum of understanding with an Australian firm to look into a lithium project in the United States. Under the non-binding pact, POSCO and Jindalee will launch joint research on Jindalee’s wholly owned McDermitt lithium project in [...]
SEOUL, Feb. 6 (Korea Bizwire) — SKC Co., a South Korean manufacturer of advanced materials, said Monday its operating profit declined 45.1 percent in 2022 from a year earlier, mainly weighed down by a spike in electricity bills and other costs. Operating profit reached 220.3 billion won (US$176.2 million) for the January-December period, compared with [...]
SEOUL, Jan. 28 (Korea Bizwire) — POSCO Holdings Inc. on Friday said its net profit halved last year from a year earlier largely due to a typhoon in September and an industry downturn. Net profit reached 3.6 trillion won (US$2.92 billion) on a consolidated basis last year, compared with a net profit of 7.2 trillion [...]
SEOUL, Jan. 27 (Korea Bizwire) — POSCO Chemical Co., a major South Korean manufacturer of secondary battery materials, said Friday it posted record-high operating profit last year, boosted by solid demand for electric vehicle (EV) battery components. Operating income reached 165.9 billion won (US$134.7 million) in the January-December period, up 36.3 percent from the previous [...]
SEOUL, Jan. 20 (Korea Bizwire) — POSCO Holdings Inc. on Friday said its operating income nearly halved last year from a year earlier largely due to a typhoon in September and an industry downturn. Its operating income stood at 4.9 trillion won (US$3.96 billion) last year, sharply down from an operating income of 9.2 trillion [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, has fully restored its facilities damaged by a September typhoon and its production was put back on track, the steelmaker said Friday. The superstrong Typhoon Hinnamnor pounded POSCO’s steel mill in Pohang, 372 kilometers southeast of Seoul, leading to the suspension of its major [...]
SEOUL, Jan. 10 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Tuesday it has raised US$2 billion by selling debts overseas, its largest-ever overseas debt sale. The three-tranche debt comprises three-year bonds worth $700 million, five-year bonds worth $1 billion and 10-year debts valued at $300 million, according to the steelmaker. POSCO’s bond sale [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, has restored most of its facilities damaged by a September typhoon and normalized production, the industry ministry said Thursday. The superstrong Typhoon Hinnamnor pounded POSCO’s steel mill in Pohang, 272 kilometers southeast of Seoul, leading to the suspension of its major facilities. All three [...]