SEOUL, April 22 (Korea Bizwire) — South Korea’s steel giant POSCO said Wednesday that it had developed a Smart Safety Ball, a smart device designed to prevent accidents in enclosed workplaces, for the first time in the world. The device enables users to sense in advance whether harmful gases exist in enclosed spaces. Before work [...]
SEOUL, April 19 (Korea Bizwire) — South Korea’s leading steelmaker POSCO has decided to end its relationship with a firm backed by Myanmar’s military. POSCO Coated & Color Steel Co., one of the steelmaker’s affiliates, recently issued a press release announcing that it will terminate the joint venture operation with Myanmar Economic Holdings Limited (MEHL) [...]
SEOUL, April 14 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Wednesday it will build a plant in South Korea to extract lithium hydroxide, a key material for electric vehicle (EV) batteries. POSCO said its board of directors approved the plan last week to build a plant in the southern industrial city [...]
SEOUL, April 12 (Korea Bizwire) — South Korea’s leading steelmaker POSCO estimated Monday its first-quarter operating profit hit the highest point in 10 years on robust demand amid global economic recovery from the COVID-19 pandemic. Operating profit for the January-March quarter jumped to 1.55 trillion won (US$1.4 billion) from 705.3 billion won during the same [...]
SEOUL, April 9 (Korea Bizwire) — SK Engineering & Construction Co., a leading South Korean builder, has launched a drive to develop an independent model for a floating structure, a core component of offshore wind power farms that is drawing attention as an eco-friendly renewable energy source. The company announced on Thursday that it had [...]
SEOUL, April 6 (Korea Bizwire) — POSCO C&C, an affiliate of South Korea’s steel giant POSCO Group, said Tuesday it is studying various options to reconsider its business ties with Myanma Economic Holdings Public Company Limited (MEHL), one of Myanmar’s two largest military holding companies. The move by the maker of surface-treatment steel sheets came [...]
SEOUL, March 30 (Korea Bizwire) — South Korean steelmaker POSCO announced Monday that it had recently purchased approximately 64,000 tons of carbon-neutral liquified natural gas (LNG). Carbon-neutral LNG emits zero carbon by canceling all carbon dioxide emitted throughout all phases of production and supply of natural gas with carbon credits earned through forestry or other [...]
SEOUL, March 29 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Monday it will receive about AU$169 million (US$129 million) from Australia’s Roy Hill Holdings next month in the third dividend in over a decade since its investment. The board of Roy Hill Holdings has decided to pay a quarterly record of [...]
SEOUL, March 25 (Korea Bizwire) — Doosan Mobility Innovation (DMI), a producer of portable fuel cell power packs, said Thursday that it has joined hands with POSCO SPS, a steel processing company, to develop a key component for hydrogen fuel cell power packs for drones. Under a preliminary deal with POSCO SPS, a unit of [...]
POHANG, March 18 (Korea Bizwire) — A POSCO employee diagnosed with lung cancer has been recognized as a victim of an industrial disaster, labor authorities said Wednesday, for the first time at the company. The state-run Korea Workers’ Compensation & Welfare Service sent a notification last Tuesday officially recognizing the employee who worked in the [...]