SEOUL, Apr. 8 (Korea Bizwire) — Domestic civic groups filed a joint complaint against POSCO with prosecutors on Monday, accusing the world’s fifth-largest steelmaker of releasing air pollutants. The civic groups, led by the Korean Federation for Environmental Movement and its regional chapter in Pohang, where POSCO’s headquarters are located, argued in the complaint that [...]
SEOUL, Feb. 26 (Korea Bizwire) — POSCO, South Korea’s leading steelmaker, said Tuesday that it plans to spend some 1.1 trillion won (US$984 million) by 2021 to sharply reduce fine dust. Under the plan, some 700 billion won will be spent to remodel or newly build its 21 power-generating facilities for a sharp reduction of [...]
SEOUL, Jan. 30 (Korea Bizwire) — POSCO, South Korea’s biggest steelmaker, said Wednesday that its net profit dropped 36 percent last year from a year earlier on a one-off valuation loss, reduced gains from asset sales and higher taxation. Net profit reached 1.89 trillion won (US$1.69 billion) on a consolidated basis, compared with a net [...]
POHANG, Jan. 9 (Korea Bizwire) – POSCO has introduced a new smart safety helmet at its factories to maximize safety and efficiency. The steel giant announced on Tuesday that it had developed a new smart safety helmet in collaboration with its subsidiary POSCO ICT. The new helmet is equipped with smart sensors and safety devices, [...]
Gwangyang, Jan. 7 (Korea Bizwire) — To meet rising demand for lithium, a base material for batteries, that is increasing along with the rapid growth of the electric car market, Posco has decided to expand the lithium plant that it plans to build in Gwangyang, South Jeolla Province. Posco’s new lithium business, in which it [...]
SEJONG, Dec. 9 (Korea Bizwire) — The U.N. maritime agency has approved guidelines on the application of POSCO’s steel product, officials said Friday, paving the way for global sales of high manganese austenitic steel for liquefied natural gas (LNG) tanks. The International Maritime Organization (IMO) made the decision in favor of POSCO’s steel for cryogenic [...]
SEOUL, Nov. 22 (Korea Bizwire) — French carmaker Renault S.A. has asked South Korean steelmaker POSCO to enter Morocco and supply automotive steel, a person familiar with the issue said Thursday. Renault made the offer to the world’s fifth-largest steelmaker by output in early 2017 as part of its strategy to diversify its sources of [...]
SEOUL, Aug. 30 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, recently created a new task force to prepare for potential business opportunities in North Korea, the company’s chief said Thursday. POSCO CEO Choi Jeong-woo told reporters earlier in the day that the firm and its affiliates have initiated a new team to manage all [...]
SEOUL, April 24 (Korea Bizwire) – POSCO, the world’s fifth-biggest steelmaker by output, said Tuesday its first-quarter net profit jumped 11 percent from a year earlier on rising demand and increased shareholding gains. Net profit for the three months ending on March 31 rose to 1.084 trillion won (US$1 billion) from 976.9 billion won a year earlier, the company said in a statement. “Rising demand for steel products [...]
SEOUL, Apr. 18 (Korea Bizwire) — POSCO, the world’s fifth-biggest steelmaker by output, said Wednesday it has begun the process of selecting a new chairman as Kwon Oh-joon offered to step down. Kwon, who has been leading the steelmaker since March 2014, made the announcement during a meeting with the company’s board of directors that [...]