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POSCO to Partner in Implementing U.N. Sustainable Development Goals

SEOUL, April 11 (Korea Bizwire) – POSCO, the world’s fifth-largest steelmaker by output, will partner in the implementation of U.N. Sustainable Development Goals, a local nongovernmental organization (NGO) said Wednesday. The South Korean steel company has been working on a project since 2014 to build high-quality houses using its own steel house method and to provide sustainable life for residents in the cities where POSCO operates. [...]

Turning 50, POSCO Seeks to Diversify to Energy, Materials Businesses

SEOUL, Apr. 1 (Korea Bizwire) — POSCO said Sunday it will diversify its business portfolio to include infrastructure, biotechnology and new materials as South Korea’s No. 1 steelmaker marked the 50th anniversary of its foundation. Laying out its long-term vision, the company said it aims to increase its sales by twentyfold to 500 trillion won [...]

POSCO-Samsung SDI Consortium to Build Cathode Plant in Chile

SEOUL, Mar. 12 (Korea Bizwire) — A South Korean consortium made up of steelmaker POSCO and battery maker Samsung SDI Co. will invest 57.5 billion won (US$54 million) to build a cathode plant in Chile by 2021, POSCO said Sunday. The POSCO-Samsung SDI consortium beat 12 companies from seven countries to secure the Chilean project, [...]

Heavy U.S. Tariffs to Hurt Steel Exports: Sources

SEOUL, Mar. 9 (Korea Bizwire) — South Korean steel exports to the United States will take a big hit from Washington’s move to slap heavy tariffs on imported steel, local industry sources said Friday. Defying threats of retaliatory measures from major economies, U.S. President Donald Trump signed orders imposing 25 percent tariffs on steel imports, [...]

POSCO to Buy 240,000 Tons of Lithium Spodumene Concentrate From Australia

SEOUL, Feb. 27 (Korea Bizwire) – POSCO, South Korea’s largest steel producer, said Tuesday it has signed a deal to buy up to 240,000 tons of lithium spodumene concentrate per year from Australia’s Pilbara Minerals, securing the key material for its lithium business. POSCO did not elaborate on how much it will pay for the import of lithium spodumene concentrate. Lithium is a key material [...]

Bank’s Offer of Birth Control Pills to New Hires for 100km March Ruffles Feathers

SEOUL, Jan. 19 (Korea Bizwire) — A long-held rite of passage for new employees at big firms has in recent weeks come under fire after reports surfaced detailing allegations that newly hired female employees at Kookmin Bank (KB), who were participants in a company mandated training program, were offered contraceptives to avoid suffering from discomfort [...]

POSCO Indonesia Plant Posts Profit After 4 Years of Operation

SEOUL, Jan. 15 (Korea Bizwire) – South Korean steelmaker PSCO said Monday its steel plant in Indonesia turned a profit after four years of operation, with accumulated sales exceeding 10 million tons. PT Krakatau POSCO, an integrated steel mill jointly set up by POSCO and Indonesia’s state-run steel firm Krakatau Steel, shifted to an operating profit of US$12 million last year after posting losses in the previous three years, POSCO said [...]

Gov’t, Steelmakers Discuss Ways to Tackle U.S. Trade Protectionism

SEOUL, Dec. 25 (Korea Bizwire) — South Korea’s trade ministry and local steelmakers have discussed ways to cope with the United States’ growing trade protectionism including adjusting steel exports, officials said Monday. The ministry held a meeting with trade experts and local steelmakers, including top player POSCO and its rival Hyundai Steel Co., on Thursday [...]

South Korea’s First LNG-powered Merchant Vessel Unveiled

SEOUL, Dec. 22 (Korea Bizwire) – The very first South Korean LNG-powered merchant vessel is expected to set sail next year. The Ministry of Trade, Industry and Energy and POSCO said on Thursday that the launch ceremony for the country’s first LNG-powered merchant vessel, ‘Green Iris’, will take place on Friday at Hyundai Mipo Dockyard [...]

POSCO’s China Plant Sells 5M Tons of Steel

SEOUL, Dec. 13 (Korea Bizwire) — POSCO, South Korea’s leading steelmaker, said Wednesday that its auto steel processing plant in eastern China has sold an accumulated 5 million tons of steel. The plant in Suzhou in China’s eastern Jiangsu Province is POSCO’s first plant overseas to reach the milestone, said POSCO Automotive Processing Center Co. [...]