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 [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s top steel maker POSCO and construction company Samsung C&T Corp said Wednesday they signed an agreement with Saudi Arabia’s sovereign wealth fund on green hydrogen production. Under the deal, the two companies will join hands with Public Investment Fund (PIF) to start a project in Saudi Arabia [...]
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 [...]
SEOUL, Jan. 7 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday that it has started the construction of a plant in China that will produce galvanized steel sheets to be used in making cars. The plant in Tangshan in northern China’s Hebei Province, whose construction is to be completed by 2023, [...]
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 [...]
SEOUL, Dec. 30 (Korea Bizwire) — South Korean steelmaker POSCO’s No. 1 blast furnace, which served as a cornerstone for the nation’s economic development as well as a cradle of the nation’s steel history, has shut down after 48 years of service. On Wednesday, POSCO held a closing ceremony for the blast furnace in the [...]
POHANG, Dec. 22 (Korea Bizwire) — South Korea’s top steelmaker POSCO’s steel plant in Pohang has stepped up to preserve a traditional Korean forge. The plant held an opening ceremony for the newly renovated Gyeoncheon Blacksmith in Gyeongju, North Gyeongsang Province on Monday. The smithy, which first opened in 1946, has been in operation for [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korean steel giant POSCO said Thursday it plans to spend US$830 million on a lithium hydroxide plant in Argentina. Its board of directors approved a plan to establish the plant near the Salar del Hombre Muerto salt lake in northern Argentina, whose annual production capacity is at 25,000 [...]
SEOUL, Dec. 10 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday its board of directors has decided to turn it into a holding company. Starting March 1, 2022, POSCO will be separated into two entities, a holding company tentatively named POSCO Holdings Inc. and its wholly-owned steelmaker tentatively named POSCO, the [...]
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. [...]