SEOUL, July 28 (Korea Bizwire) — The Supreme Court on Thursday upheld a ruling that ordered steelmaker POSCO to grant the status of direct employees to 55 of its former subcontract workers. A total of 59 workers of POSCO’s subcontractors filed suits in 2011 and 2016, demanding the company recognize them as direct employees as [...]
SEOUL, July 28 (Korea Bizwire) — POSCO and Indonesia’s state-run steelmaker Krakatau agreed on Thursday to spend US$3.5 billion over the next five years on building a second furnace in the Southeast Asian country to meeting growing demand. POSCO and Krakatau already run PT.KRAKATAU-POSCO, their joint venture located in the major industrial city of Cilegon [...]
SEOUL, July 24 (Korea Bizwire) — South Korean steel giant POSCO Group has put itself on an emergency management footing, its holding company said Sunday, as business units across the group brace for weaker profits amid an expected slowdown of the global economy. The decision came in a Thursday meeting of Chairman Choi Jeong-woo and [...]
SEOUL, July 21 (Korea Bizwire) — POSCO Holdings Inc., the holding company of South Korea’s top steelmaker, said Thursday its second-quarter net profit almost stayed flat from a year earlier amid soaring material prices and robust performance at its non-steelmaking affiliates. Its net profit stood at 1.8 trillion won (US$1.38 billion) on a consolidated basis [...]
SEOUL, June 23 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said it has launched a talent cultivation program in collaboration with Brazilian mining giant Vale SA. Under this program, the two companies agreed to offer support to young students from low-income households in South Korea and Brazil. On Wednesday, POSCO donated US$100,000 to Korea [...]
SEOUL, June 16 (Korea Bizwire) — South Korean battery maker SK On Co. and steel giant POSCO jointly announced on Wednesday that they had signed a memorandum of understanding to promote comprehensive cooperation in their burgeoning secondary battery business. The two parties plan to unite forces to explore joint projects throughout the entire value chain [...]
SEOUL, June 10 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said Friday that it has completed a 370 billion won (US$293 million) project to transform the No. 4 blast furnace into a smart and eco-friendly furnace. The steelmaker held a blow-in ceremony for the blast furnace earlier in the day after the 18-month work [...]
POHANG, June 6 (Korea Bizwire) — An automatic stop technology has been developed to prevent forklift collisions. South Korean steel giant POSCO said it had developed the automatic stop technology for forklifts in collaboration with the Research Institute of Industrial Science & Technology, Posco Group’s Future Technology Research Institute and local small and medium companies. [...]
SEOUL, May 26 (Korea Bizwire) — POSCO Group said Thursday it will invest 53 trillion won (US$41.8 billion) over the next five years to transform its steel plants into environment-friendly facilities and invest in battery materials. The South Korean steelmaker will spend most of the planned investment to upgrade the existing steel mills into eco-friendly [...]
POHANG, May 19 (Korea Bizwire) — Another employee at South Korean steelmaker POSCO who was diagnosed with lung cancer has been recognized as a victim of an industrial disaster. A 68-year-old former POSCO employee who was recently diagnosed with lung cancer was recognized as a victim of an industrial disaster under the Industrial Accident Compensation [...]