POSCO to Seek 1 Tln-Won Cost Reduction this Year

SEOUL, March 11 (Korea Bizwire) – South Korea’s steelmaking giant POSCO plans to cut its costs by 1 trillion won (US$838.1 million) this year as part of the ongoing efforts to enhance overall management efficiency, its head said Friday. POSCO Chairman Kwon Oh-joon told investors at a shareholders’ meeting in Seoul that the steelmaker will save [...]