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Restructuring Steel Companies Pledge Higher Dividends to Ease Shareholder Concerns

Restructuring Steel Companies Pledge Higher Dividends to Ease Shareholder Concerns

SEOUL, Jan. 24 (Korea Bizwire) — South Korean steelmakers are looking into the feasibility of increasing dividends as a way to appease shareholder concern about their switch into a holding company system. Seah Besteel Corp., which announced that it would be converting into a holding company system last Friday, is reviewing the idea of increasing [...]

POSCO Logs Record High Earnings in 2021 on Robust Demand, High Prices

POSCO Logs Record High Earnings in 2021 on Robust Demand, High Prices

SEOUL, Jan. 12 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Wednesday that it logged its largest earnings ever last year on the back of strong demand for key products and high prices. Its operating income stood at 9.2 trillion won (US$7.73 billion) last year on a consolidated basis, compared with an operating profit [...]

POSCO Joins Global ESG Standard Development Alliance

POSCO Joins Global ESG Standard Development Alliance

SEOUL, Jan. 7 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Thursday that it joined the Value Balancing Alliance (VBA), a global business alliance organized to promote the development of global ESG standards by measuring ESG performance in a currency value and reflecting this data in account books. ESG is short for environmental, social [...]

POSCO Seeks to Shift into Holding Firm

POSCO Seeks to Shift into Holding Firm

SEOUL, Dec. 1 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, is planning to transform into a holding company by splitting it into two business entities, industry sources said Wednesday. After the breakup, the steelmaking group’s holding company will be focused on charting out future business, research and development, and investment, according to the sources. [...]