SEOUL, Jan. 28 (Korea Bizwire) – POSCO, South Korea’s top steelmaker, said Thursday its operating profit slipped 37.9 percent last year as the coronavirus pandemic ravaged global demand for steel. POSCO reported an operating profit of 2.4 trillion won (US$2.15 billion) and a net profit of 1.7 trillion won for 2020. Net profit fell 9.8 [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korean steelmakers are doubling down on hydrogen-related investments, as part of efforts to overcome the ever-toughening environmental regulations as well as to create new growth engines. Industry experts say that in a situation where the steel industry is stigmatized as being devastating to the environment, the core competitiveness [...]
SEOUL, Jan. 24 (Korea Bizwire) – POSCO, the world’s fifth-largest steelmaker by output, is expected to have logged double-digit operating profit growth in the fourth quarter on increased demand despite the coronavirus pandemic. Strong demand for steel products in China and a hike in steel prices likely buoyed the company’s bottom line in the October-December [...]
SEOUL, Jan. 22 (Korea Bizwire) – South Korean steelmaker POSCO announced on Thursday that the world’s largest liquid natural gas (LNG)-fueled bulk carrier has successfully completed its maiden voyage. POSCO’s eco-friendly bulk carrier HL Green arrived at the terminal of its steel mill in Gwangyang, 420 kilometers southwest of Seoul, after departing from Mokpo in [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korean steelmakers are expected to see their earnings bounce back in the first quarter of the year on a recovery in demand and rising prices, analysts said Thursday. The rosy outlook represents a stark turnaround from their dismal performances last year in the wake of the coronavirus pandemic [...]
SEOUL, Dec. 17 (Korea Bizwire) – POSCO, the world’s fifth-largest steelmaker by output, said Thursday it has agreed to buy a 15 percent stake in Black Rock Mining for US$7.5 million. The deal will pave the way for POSCO to secure graphite fines, a material required to make anodes, according to the steelmaker. Still, POSCO [...]
SEOUL, Dec. 13 (Korea Bizwire) — South Korean steelmaker POSCO said Sunday it will expand hydrogen production capacity in the next three decades to meet growing demand for the clean energy source and foster new growth drivers. POSCO, the world’s fifth-largest steelmaker by output, said it will produce up to 5 million tons of hydrogen [...]
SEOUL, Dec. 3 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, is considering buying stakes in graphite mines in Australia and Mozambique, a person familiar with the matter said Thursday. The move is part of POSCO’s efforts to diversify import sources of graphite, a material required in making anodes, he said. An anode [...]
SEOUL, Nov. 10 (Korea Bizwire) — POSCO, the world’s fifth-largest steelmaker by output, said Tuesday that it has installed key equipment at its sinter plants in the southeastern city of Pohang in the latest move to reduce nitrogen oxide (NOx) emissions. The Selective Catalytic Reduction (SCR) equipment at three out of four sinter plants in [...]
SEOUL, Oct. 23 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, said Friday its third-quarter net profit rose 3.5 percent from a year earlier on improving sales despite the coronavirus pandemic. Net profit for the three months ending in September rose to 514 billion won (US$450 million) from 496.8 billion won in the [...]