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POSCO Net Sinks 36 pct on Valuation Loss, Higher Taxation in 2018

POSCO Net Sinks 36 pct on Valuation Loss, Higher Taxation in 2018

SEOUL, Jan. 30 (Korea Bizwire) — POSCO, South Korea’s biggest steelmaker, said Wednesday that its net profit dropped 36 percent last year from a year earlier on a one-off valuation loss, reduced gains from asset sales and higher taxation. Net profit reached 1.89 trillion won (US$1.69 billion) on a consolidated basis, compared with a net [...]

POSCO Introduces Smart Safety Helmets with Video Recording and Distress Call Functions

POSCO Introduces Smart Safety Helmets with Video Recording and Distress Call Functions

POHANG, Jan. 9 (Korea Bizwire) – POSCO has introduced a new smart safety helmet at its factories to maximize safety and efficiency. The steel giant announced on Tuesday that it had developed a new smart safety helmet in collaboration with its subsidiary POSCO ICT. The new helmet is equipped with smart sensors and safety devices, [...]

U.N. Maritime Agency OKs POSCO’s Steel for LNG Tanks

U.N. Maritime Agency OKs POSCO’s Steel for LNG Tanks

SEJONG, Dec. 9 (Korea Bizwire) — The U.N. maritime agency has approved guidelines on the application of POSCO’s steel product, officials said Friday, paving the way for global sales of high manganese austenitic steel for liquefied natural gas (LNG) tanks. The International Maritime Organization (IMO) made the decision in favor of POSCO’s steel for cryogenic [...]

POSCO Creates Task Force to Handle N. Korean Business

POSCO Creates Task Force to Handle N. Korean Business

SEOUL, Aug. 30 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, recently created a new task force to prepare for potential business opportunities in North Korea, the company’s chief said Thursday. POSCO CEO Choi Jeong-woo told reporters earlier in the day that the firm and its affiliates have initiated a new team to manage all [...]

POSCO Q1 Net Jumps 11% on Demand, Equity Gains

POSCO Q1 Net Jumps 11% on Demand, Equity Gains

SEOUL, April 24 (Korea Bizwire) – POSCO, the world’s fifth-biggest steelmaker by output, said Tuesday its first-quarter net profit jumped 11 percent from a year earlier on rising demand and increased shareholding gains. Net profit for the three months ending on March 31 rose to 1.084 trillion won (US$1 billion) from 976.9 billion won a year earlier, the company said in a statement. “Rising demand for steel products [...]

POSCO Begins Selection of New Chief as its Chairman Offers to Quit

POSCO Begins Selection of New Chief as its Chairman Offers to Quit

SEOUL, Apr. 18 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, said Wednesday it has begun the process of selecting a new chairman as Kwon Oh-joon offered to step down. Kwon, who has been leading the steelmaker since March 2014, made the announcement during a meeting with the company’s board of directors that [...]

POSCO to Partner in Implementing U.N. Sustainable Development Goals

POSCO to Partner in Implementing U.N. Sustainable Development Goals

SEOUL, April 11 (Korea Bizwire) – POSCO, the world’s fifth-largest steelmaker by output, will partner in the implementation of U.N. Sustainable Development Goals, a local nongovernmental organization (NGO) said Wednesday. The South Korean steel company has been working on a project since 2014 to build high-quality houses using its own steel house method and to provide sustainable life for residents in the cities where POSCO operates. [...]

Turning 50, POSCO Seeks to Diversify to Energy, Materials Businesses

Turning 50, POSCO Seeks to Diversify to Energy, Materials Businesses

SEOUL, Apr. 1 (Korea Bizwire) — POSCO said Sunday it will diversify its business portfolio to include infrastructure, biotechnology and new materials as South Korea’s No. 1 steelmaker marked the 50th anniversary of its foundation. Laying out its long-term vision, the company said it aims to increase its sales by twentyfold to 500 trillion won [...]