SEOUL, Oct. 21 (Korea Bizwire) — POSCO Energy Co., a South Korean electricity provider, said Thursday it plans to sell its stake in a coal-fired thermal power plant project in Vietnam. The company said in a regulatory filing its board made the decision at a recent meeting to sell the 30-percent stake valued at 217.5 [...]
SEOUL, Aug. 30 (Korea Bizwire) — POSCO Energy, a wholly owned energy unit of South Korean steelmaker POSCO, is gearing up to develop a low-carbon power generation technology that makes use of waste heat, in collaboration with a local company. The company recently announced that it had established a business tie-up with heat exchanger manufacturer [...]
SEOUL, Oct. 9 (Korea Bizwire) — POSCO Energy, a wholly owned energy unit of South Korean steelmaker POSCO, said Friday it has filed a 922 billion-won (US$800 million) claim against U.S.-based FuelCell Energy for damages involving their license deal. On Wednesday, POSCO Energy filed the suit with the International Court of Arbitration of the International [...]
SEOUL, Oct. 6 (Korea Bizwire) — Environmental groups called for increased government regulations on privately owned coal-fired power plants’ claims that their coal plants are eco-friendly and provide clean energy. Greenpeace and the Green Consumer Network in Korea said that they presented a petition to the Anti-Corruption and Civil-Rights commission to regulate Posco Energy, SK [...]
SEOUL, Feb. 5 (Korea Bizwire) – POSCO, South Korea’s top steelmaker, said Thursday that it will focus on improving its financial structure this year by reducing investment and selling assets and equity holdings, following lackluster earnings results for last year. POSCO plans to invest 4.2 trillion won (US$3.9 billion) group-wide this year, down 1.2 trillion [...]
SEOUL, June 9 (Korea Bizwire) – A competition to get bigger by gobbling up rivals in the energy industry is getting fiercer. As GS Group has closely caught up with the industry leader POSCO Energy by acquiring STX Energy, POSCO Energy responded by betting big on trying to take over Tongyang Power. The power generation business, [...]