SEOUL, Sept. 25 (Korea Bizwire) — South Korea’s 30 biggest conglomerates were found to be engaged in over 13 trillion won (US$11 billion) worth of lawsuits in the first half of the year, a local market research firm said Wednesday. In their earnings reports for the January-June period, 176 affiliates of the top 30 business [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s cathode material producers are likely to see solid earnings in the fourth quarter of the year on a surge in nickel and cobalt prices, analysts here said Saturday, amid growing demand for electric vehicle (EV) batteries. Nickel and cobalt are key raw materials for cathodes, one of [...]
SEOUL, Sept. 4 (Korea Bizwire) — POSCO, South Korea’s largest steelmaker, said Wednesday it will build a lithium processing plant in the country’s southwestern city to meet the growing demand of electric vehicle (EV) battery materials. POSCO said it has recently finalized a deal with Pilbara Minerals Ltd., a major lithium mining company in Australia, [...]
SEOUL, Sept. 1 (Korea Bizwire) — A sharp drop in prices of key raw materials, such as iron ore, is posing a quandary for South Korean steelmakers who are eager to raise prices of their steel products for the second half of the year, industry observers said Saturday. According to data from Korea Resources Corporation, [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Thursday it has completed the construction of a facility in China to produce cathode material, a key component for electric vehicle (EV) batteries. POSCO said its joint venture with Huayou Cobalt, China’s largest cobalt producer, in Tongxiang, Zhejiang Province of China, will begin [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Tuesday its cryogenic high manganese steel (HMS) has earned government approval as a material reliable for manufacturing land-based liquefied natural gas (LNG) storage tanks. POSCO completed the development of world’s first cryogenic HMS in 2013 after six years of research. The company said [...]
SEOUL, Aug. 8 (Korea Bizwire) — POSCO Co., South Korea’s top steelmaker, has developed a new construction technology that allows builders to add up to three stories at a time. The company said Wednesday that the “P-Box Pillar and Reinforced Concrete Beam Jointing Method,” developed with its customers, has been designated as a new technology [...]
SEOUL, Jul. 23 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Tuesday that its second-quarter net profit increased mainly due to the robust performance of its affiliates. Net profit reached 681.4 billion won (US$577 million) in the April-June period on a consolidated basis, up 17 percent from a profit of 580 billion won a [...]
SEOUL, Jul. 9 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Tuesday it has raised US$500 million by selling so-called environment, social, governance (ESG) bonds. The ESG bond is a type of sustainability debt offering aimed to finance corporate activities in environmental, social responsibility and governance improvement. POSCO also said it is the world’s [...]
SEOUL, Jul. 3 (Korea Bizwire) – South Korea’s top steelmaker POSCO said Wednesday it has been named a “lighthouse factory,” by the World Economic Forum (WEF) for its efforts to drive innovation of the manufacturing sector. The WEF, an international organization for public-private cooperation, selects lighthouse factories twice a year that are considered front runners [...]