SEOUL, Jun. 19 (Korea Bizwire) — As competition in the international steel industry stiffens due to oversupply, South Korean steel companies are embracing smart technology to prepare for the Fourth Industrial Revolution. At the forefront of this trend is South Korean steel-making company POSCO, which announced on Saturday that it has been adopting new artificial [...]
SEOUL, Dec. 16 (Korea Bizwire) – POSCO Co., South Korea’s leading steelmaker, and local rivals are moving to raise steel prices in tandem with a rise in the prices of raw materials, industry sources said Friday. According to the sources, POSCO plans to raise hot-rolled steel plates by 120,000 won (US$102) per ton next month, [...]
SEOUL, April 8 (Korea Bizwire) – Hyundai Steel Co., South Korea’s No. 2 steelmaker, said Wednesday that its board approved a deal to take over Hyundai Hysco Co., a move expected to increase synergy between the two companies. The takeover deal was approved at a board meeting held earlier in the day, Hyundai Steel said in [...]
SEOUL, April 2 (Korea Bizwire) – The wage gap between executives and ordinary workers has continued to increase dramatically in Korea, as the disparity in salaries at the top 30 listed companies reached up to 142 times last year. According to FNGuide, a financial information provider, Samsung Electronics topped the wage disparity among the 30 largest [...]
DANGJIN, Korea, Jan. 16 (Korea Bizwire) – Amid the full-fledged trading of greenhouse gas emission quotas and the increased awareness of the importance of CO2 emission reduction, Hyundai Steel gained attention after receiving international recognition for its efforts to reduce emissions. South Korea’s second largest steel mill announced on January 15 that it won an international certification [...]
SEOUL, July 23 (Korea Bizwire) – In order to prevent the instances of fabricating mill test certificates and thereby reduce the volume of low-quality steel product imports, the Korean Iron & Steel Association has introduced a new QR code-based scheme called “QReal” and entered an emergency mode to fully implement the scheme. According to the association, the [...]