SEOUL, Aug. 27 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday it has teamed up with Korea Shipbuilding & Offshore Engineering Co. and other partners to develop a carrier of liquefied carbon dioxide in the latest move to reduce greenhouse gas emissions. Under the deal, POSCO and its partners will build [...]
SEOUL, Aug. 18 (Korea Bizwire) — Posco magnesium alloy coating (PosMAC), a corrosion-resistant steel product produced by South Korea’s leading steelmaker POSCO, is set to gain wider access in the Chinese market. The China Engineering Construction Standardized Association recently certified the ternary alloy coated steel product with high corrosion resistance as a suitable material that [...]
SEOUL, Aug. 17 (Korea Bizwire) — An analysis showed that the primary factor behind South Korean steel giant POSCO’s record-high second quarter results was the surge in its non-steel profits along with the recovery of its main steel business. POSCO Chairman Choi Jeong-woo, who took office in July 2018, is assessed as having succeeded in [...]
SEOUL, July 28 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Wednesday it will build a new nickel sulfate refinery to meet rising demand for electric vehicle (EV) batteries. The steel giant said the broader POSCO group will invest 230 billion won (US$199.5 million) to build the new refining infrastructure to produce [...]
SEOUL, July 22 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday that its second-quarter net profit surged 18 times from a year earlier on robust demand amid the global economic recovery from the COVID-19 pandemic. Net profit for the three months that ended in June soared to 1.81 trillion won (US$1.57 [...]
SEOUL, July 20 (Korea Bizwire) — South Korea’s steel giant POSCO announced on Monday that in collaboration with power plant builder Doosan Heavy Industries & Construction Co., it will develop a new power generation technology using the ammonia synthesized from green and blue hydrogen as a fuel. The two parties, together with the Research Institute [...]
DANBURY, Conn., July 13 (Korea Bizwire) – FuelCell Energy, Inc. (Nasdaq: FCEL) — a global leader in fuel cell technology with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy — announced today that it has received a favorable ruling in a court case filed in the Court [...]
SEOUL, July 9 (Korea Bizwire) — South Korea’s leading steelmaker POSCO estimated Friday its second-quarter operating profit hit the highest point in 15 years on robust demand amid a global economic recovery from the COVID-19 pandemic. Operating profit for the April-June quarter jumped to 2.2 trillion won (US$1.9 billion) from 121.2 billion won during the [...]
SEOUL, June 25 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Friday it has signed a deal with HBIS Group, China’s second-biggest steelmaker, to set up a US$600 million joint venture in China. Under the deal signed online between POSCO Chairman Choi Jeong-woo and Wang Lanyu, general manager of HBIS Group, the [...]
SEOUL, June 22 (Korea Bizwire) — South Korea’s leading steelmaker POSCO is taking active steps to help small and medium-sized enterprises (SMEs) that are having difficulty exporting their products due to a shortage of vessels and recent hikes in freight rates. On Monday, the company signed a memorandum of understanding (MOU) with the state-run Korea [...]