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 [...]
SEOUL, June 17 (Korea Bizwire) — South Korea’s leading steelmaker POSCO is likely to post a record operating income for the second quarter of the year on a recovery in global demand, according to market forecasts Thursday. Eight local brokerages’ median estimate for POSCO’s operating profit stands at 1.93 trillion won (US$1.73 billion) for the [...]
SEOUL, June 4 (Korea Bizwire) — South Korea’s leading steelmaker POSCO is set to launch a waste plastic collection campaign to celebrate World Environment Day on Friday. The waste plastics that POSCO and its partner companies collect will be mixed with steel materials and upscaled into useful products for everyday life. For those who participate [...]
SEOUL, May 31 (Korea Bizwire) — South Korean steelmakers have raised automotive steel prices for the first time in four years, people familiar with the matter said Monday, a move that could boost their bottomlines. POSCO, the country’s largest steelmaker, reached a deal with Hyundai Motor Co. and Kia Corp., the country’s two biggest carmakers, [...]
SEOUL, May 31 (Korea Bizwire) — POSCO has teamed up with a Chinese company to roll out an eco-friendly secondary cell recycling business. The world’s fifth-largest steelmaker by output recently signed an investment contract with the South Jeolla provincial government for the development of the new entity. Prior to this, POSCO established a joint venture [...]
SEOUL, May 28 (Korea Bizwire) – South Korea’s leading steelmaker POSCO has joined hands with Orsted A/S, the world’s largest offshore wind power producer in the areas of offshore wind power and green hydrogen production. The two parties recently signed a memorandum of understanding (MOU) to promote a comprehensive partnership with a focus on domestic [...]
SEOUL, May 26 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, on Wednesday broke ground for a plant in South Korea to extract lithium hydroxide, a key material for electric vehicle (EV) batteries. The ceremony came nearly seven weeks after POSCO’s board of directors approved the plan to build a plant in the [...]
SEOUL, May 20 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has signed a deal to buy a 30 percent stake in the Ravensthorpe Nickel Operation in Australia for US$240 million in the latest move to boost its electric vehicle battery business. Under the deal with Canadian miner First Quantum [...]