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 [...]
SEOUL, May 14 (Korea Bizwire) — POSCO Engineering & Construction Co., an affiliate of POSCO, South Korea’s top steelmaker, plans to deploy a walking robot for safety management during tunnel construction. The company said Thursday that it had decided to use a walking robot mounted with LiDAR and a high-performance camera to examine construction errors [...]
SEOUL, April 26 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Monday that its first-quarter net profit soared 162 percent 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 March soared to 1.13 trillion won (US$1.02 [...]
SEOUL, April 26 (Korea Bizwire) — South Korea’s leading steelmaker POSCO has embarked on a project to restore deforested areas through partnerships with a string of domestic and international companies. On Saturday, POSCO held a tree planting event in Pyeongchang County, Gangwon Province along with Australian mining giant BHP Group Ltd. and local social enterprise [...]