SEOUL, Dec. 18 (Korea Bizwire) — South Korean steelmaker POSCO said Sunday it has resumed operations at a key steel plant after a three-month-long suspension due to a typhoon. On Thursday, POSCO restarted the No. 2 hot-rolled steel production plant in Pohang, 374 kilometers southeast of Seoul, bringing the number of normalized plants to 13 [...]
SEOUL, Dec. 12 (Korea Bizwire) — LS Cable & System Ltd., the world’s third-largest wire and cable maker by sales, said Monday it has obtained a 400 billion-won (US$305 million) submarine cable supply deal from Sweden. LS Cable will supply extra-high voltage submarine cable systems to an offshore wind farm being built in the North [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s top steelmaker POSCO is expected to fully normalize its facilities damaged by a September typhoon during the first quarter of next year, the industry ministry said Monday. The ministry’s estimate for the full recovery of the typhoon-hit facilities contrasts with POSCO’s own projection that they will be [...]
SEOUL, Oct. 28 (Korea Bizwire) — POSCO and Samsung Electronics Co. will jointly push for the localization of xenon, a key material gas used for chipmaking. Samsung, the world’s largest memory chip maker, has been importing all of the xenon it uses from overseas. The two parties announced on Thursday that they had signed a [...]
SEOUL, Oct. 24 (Korea Bizwire) — POSCO Holdings Inc. on Monday reported a 77-percent drop in its third-quarter net income, in the face of typhoon damage and a fall in prices of key products. Its net profit for the July-September period reached 600 billion won (US$416.8 million) on a consolidated basis, compared with a net [...]
SEOUL, Oct. 19 (Korea Bizwire) — POSCO Holdings Inc., the holding firm of South Korea’s top steelmaker POSCO, on Wednesday said that its third-quarter operating profit dropped 71 percent as some of its steel-processing facilities remain shuttered after a typhoon. Its operating income stood at 900 billion won (US$633 million) in the July-September period, compared [...]
SEOUL, Oct. 14 (Korea Bizwire) — POSCO Group, South Korea’s top steelmaking group, on Friday broke ground for a plant that refines high-purity nickel to be used for electric vehicle batteries in a move to further solidify its secondary battery material business. The facility with an annual production of 20,000 tons of high-purity nickel, a [...]
SEOUL, Oct. 7 (Korea Bizwire) — South Korean steel giant POSCO has participated in an academic-industry research cooperation drive to develop new technology for recycling by-product gases generated during the steel-making process as plastic materials on the basis of existing carbon dioxide capture and utilization technologies. The company on Thursday inaugurated the Center for Low-Carbon [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Wednesday it will complete the normalization of its facilities damaged by a recent typhoon within three months, stressing that any major supply glitch would not occur given its product stockpiles sufficient to last 2-3 months. POSCO was forced earlier this month to halt [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korean steelmaker POSCO said Friday it will complete repairs of manufacturing facilities damaged by a recent typhoon within three months and plan to fully normalize operations by December. Earlier this month, Typhoon Hinnamnor hit the country’s southeastern parts and severely flooded POSCO’s facilities in Pohang, about 270 kilometers [...]