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. [...]
POHANG, Nov. 26 (Korea Bizwire) — POSCO unveiled a plan to set up infrastructure for the supply of hydrogen in Pohang, North Gyeongsang Province where its steel mill is located, as well as to shift the transport of steel products from diesel trucks to hydrogen vehicles. The South Korean steel giant on Wednesday signed a [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korea’s corporate social responsibility (CSR) activities are expanding into protecting animal rights and revitalizing local economies. POSCO Engineering & Construction Co. is going to offer a helping hand to build a large cat shelter using a closed school in the island village in Tongyeong, a coastal city in [...]