SEOUL, April 27 (Korea Bizwire) — POSCO said Wednesday it plans to spend 70 billion won (US$55.5 million) to expand its industrial gas storage facility. South Korea’s top steelmaker plans to expand its storage capacity of oxygen and nitrogen gas to 60,000 tons and 46,000 tons, respectively, from the current 49,000 tons and 36,000 tons. [...]
SEOUL, April 25 (Korea Bizwire) – POSCO Holdings Inc., the holding company of South Korea’s top steelmaker, said Monday that its first-quarter net profit soared 68 percent from a year earlier on the back of strong performance of its non-steelmaking affiliates and higher steel prices. Its net profit stood at 1.9 trillion won (US$1.52 billion) [...]
SEOUL, April 22 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, on Friday broke ground for a new steel plant amid rising demand from automakers and home appliance makers. POSCO will spend 1 trillion won (US$805 million) in building the plant in the southwestern port of Gwangyang, which will have an annual production capacity of [...]
SEOUL, March 24 (Korea Bizwire) — South Korean steel giant POSCO said Thursday it has broken ground on a lithium hydroxide plant in Argentina. The US$830 million project calls for the establishment of the plant near the Salar del Hombre Muerto salt lake in northern Argentina, with an annual production capacity of 25,000 tons of [...]
SEOUL, March 14 (Korea Bizwire) — South Korean steelmaker POSCO said Monday it has broken ground for a plant that will produce sold-state electrolyte (SSE), a key component in solid-state batteries. The plant in Yangsan, about 420 kilometers southeast of Seoul, will be able to produce 24 tons annually from the second half of the [...]
SEOUL, March 2 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, launched a holding company Wednesday to better nurture non-steelmaking businesses, such as battery materials and hydrogen. In January, shareholders of POSCO approved a plan for the steelmaker to transform into a holding company by splitting it into two business entities. After the breakup, the [...]
SEOUL, Feb. 22 (Korea Bizwire) — POSCO Group, South Korea’s top steelmaking group, said Tuesday it plans to spend 750 billion won (US$627 million) in expanding LNG storage tanks in the country. Along with its energy affiliate POSCO Energy Co., POSCO will add three 200,000-kiloliter LNG storage tanks near the existing LNG storage complex in [...]
SEOUL, Jan. 28 (Korea Bizwire) — Shareholders of POSCO, South Korea’s top steelmaker, said Friday that the company will create a holding company following the approval of its plan to transform into a holding company by splitting it into two business entities. After the breakup, the steelmaking group’s holding company, tentatively named POSCO Holdings Inc., [...]
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 [...]