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 [...]
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 [...]