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POSCO to Reorganize LNG Processing Operations to Enhance Efficiency

POSCO to Reorganize LNG Processing Operations to Enhance Efficiency

SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Monday that it will reorganize its liquefied natural gas (LNG) operations as part of its efforts to enhance its business efficiency. The company said in a regulatory filing that its board of directors last week approved the transfer of its LNG terminal in [...]

Civic Groups File Complaint Against POSCO’s Alleged Air Pollutants

Civic Groups File Complaint Against POSCO’s Alleged Air Pollutants

SEOUL, Apr. 8 (Korea Bizwire) — Domestic civic groups filed a joint complaint against POSCO with prosecutors on Monday, accusing the world’s fifth-largest steelmaker of releasing air pollutants. The civic groups, led by the Korean Federation for Environmental Movement and its regional chapter in Pohang, where POSCO’s headquarters are located, argued in the complaint that [...]

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 [...]