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 [...]
SEOUL, Oct. 22 (Korea Bizwire) — South Korean steelmaker POSCO has joined hands with KT Corp., a major telecommunications firm, to promote smart green cities. The two companies, together with Mystech Co., a local company that specializes in the production of street facilities such as street lamps, signed a business cooperation agreement on Wednesday. Under [...]
SEOUL, Oct. 4 (Korea Bizwire) — South Korean steelmakers are expected to have performed better in the third quarter despite the new coronavirus fears, moving on from a slump a quarter ago, analysts said on Sunday. The country’s major steelmakers are likely to have earned more in the July-September period, thanks to a rebound in [...]
SEOUL, Aug. 5 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, and other local steel mills plan to cut their crude steel production due to a sharp decline in global steel demand over the coronavirus pandemic, company officials said Wednesday. Earlier this year, POSCO had planned to produce 36.7 million tons of crude [...]