SEOUL, Jul. 2 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Tuesday one of its major steel mills has returned to normal operations following a power outage the previous day. POSCO said that furnaces and other production facilities at its steel mill in Gwangyang, South Jeolla Province, some 420 kilometers southwest of Seoul, are [...]
SEOUL, Jun. 20 (Korea Bizwire) — South Korea’s No. 1 steelmaker, POSCO, was the top greenhouse gas emitter among local companies, industry data showed Thursday. POSCO produced 71 million tons of greenhouse gases in 2017, accounting 11.3 percent of total emissions by South Korean companies, according to a report from the Korea Corporate Governance Service [...]
SEOUL, Jun. 19 (Korea Bizwire) — South Korean steelmakers are likely to continue to suffer weak business results in the second quarter of the year due to high iron ore prices and a supply glut amid concerns over a global economic slowdown, analysts here said Wednesday. The price of iron ore, one of the main [...]
SEOUL, Jun. 13 (Korea Bizwire) — He is not an alchemist, but when it comes to handling metals, Kim Yong-tae, an engineer at South Korea’s top steelmaker POSCO, is a top-notch artisan, although he does not use a forge to make the metal submit to his will. Instead, he uses a complicated formula and a [...]
SEOUL, May 21 (Korea Bizwire) — POSCO Co., South Korea’s largest steelmaker, said Tuesday it will invest 1 trillion won (US$838 million) to foster startups in the country. POSCO said it will create an industrial complex for startups, as well as a fund to support promising firms in association with the Ministry of SMEs and [...]
SEOUL, May 21 (Korea Bizwire) — The U.S. Commerce Department has decided to further lower its tariff on cold-rolled steel products by South Korea’s top steelmaker POSCO, industry sources said Tuesday. According to the sources, the U.S. government recently decided to impose a 3.23 percent tariff on cold-rolled steel sheets produced by POSCO, down from [...]
SEOUL, May 1 (Korea Bizwire) — South Korean steelmakers are facing a double whammy of rising iron ore prices and low demand from major clients, industry sources said Wednesday. Steelmakers have passed high costs of raw materials such as iron ore and coking coal onto customers, but they have difficulties in demanding that their clients [...]
SEOUL, Apr. 25 (Korea Bizwire) — POSCO, South Korea’s largest steelmaker, said Thursday it will spend 350 billion won (US$302 million) to build new byproduct gas power generating facilities at its main steel mill. The new byproduct gas power plants inside its still mill in Pohang, some 370 kilometers southeast of Seoul, will be completed [...]
SEOUL, Apr. 24 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Wednesday that its first-quarter earnings dropped 28 percent from a year earlier due to a slump in the steelmaking sector and a drop in steel prices. Net profit reached 778 billion won (US$679 million) in the January-March period on a consolidated basis, compared [...]
SEOUL, Apr. 15 (Korea Bizwire) — South Korea’s largest steelmaker POSCO said Monday that it will reorganize its liquefied natural gas (LNG) operations as part of its efforts to enhance its business efficiency. The company said in a regulatory filing that its board of directors last week approved the transfer of its LNG terminal in [...]